Biomagnetics Diagnostics Corporation Concludes Contract Talks With U.S. Government Lab - Preparing Bill & Melinda Gates Foundation Grant Application

ORANGEVALE, Calif.--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, today announced the Company has completed business negotiations with one of the U.S. Government's top national security research institutions regarding the acquisition of rights to the Integrated Optical Biosensor System (IBOS) technology developed by the laboratory personnel. Biomagnetics Diagnostics plans to utilize this technology to enter the significantly underserved market for handheld biosensors capable of detecting a broad range of disease-causing viruses, bacteria and fungi.