ORANGEVALE, Calif.--(BUSINESS WIRE)--Biomagnetics Diagnostics Corporation (OTC:BMGP - News), announced today that is continuing formal negotiations to purchase an interest in Tianjin Automatic Science & Instrument Co. LTD.
1) Auto Science is located in Tianjin, China’s third largest city with a population of 9.5 million. Tianjin is a major comprehensive industrial base in northern China. It has over 150 lines of industry consisting primarily of electronics, automobile, metallurgy, pharmaceuticals, textiles, chemicals and mechanics.
Tianjin Auto Science has been in business over 15 years. By acquiring an interest in Tianjin Auto Science, Biomagnetics Diagnostics will gain access to over 1,250 distributors, a laboratory client base of 10,000 and skilled manufacturing in the business community’s most exciting markets.
2) We have received quotes to manufacturing our Assays from Shanghai Jing Ying Biotechnology Co. and are now conducting due diligence.
3) Biomagnetics has entered into a memorandum of understanding whereby B.R.I.A. will undertake the responsibility to represent Biomagnetics Diagnostics Corp. in acquiring the required Health Ministry approvals to perform clinical trials in Thailand on the HTS-MTP Diagnostic System, including the Company’s proprietary HIV and Hepatitis B assays.
(BRIA is a leading company in healthcare service for over 25 years. They provide clinical lab services and distribute the rapid IVD test kits to hospitals and clinics in this region. Their business includes; Clinical laboratory service for hospitals, clinics and CROs.)
About Biomagnetics Diagnostics Corporation
Biomagnetics Diagnostics Corporation, through its wholly owned subsidiary Biospectrum Technologies, Inc., a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies and highly specific and sensitive assays that are qualitative (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.
For more information please visit: www.biomagneticsbmgp.com.
Forward-looking Statement:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluation such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
Contact: Biomagnetics Diagnostics Corp Paul Hardman, 916-987-7078
Source: Biomagnetics Diagnostics Corporation
