IRVINE, CA--(Marketwire - January 12, 2010) - Biomerica, Inc. (OTCBB: BMRA) announced that it has purchased the technology, know-how and manufacturing rights for seven new gastrointestinal enteric disease tests from an undisclosed Company. The seven new tests detect certain parasites or bacteria in stool samples including: Parasites of Cryptosporidium, E. histolytica, and Giardia; bacteria E. Coli 0157 and Campylobacter; and bacteria-produced toxins Verotoxin and Clostridium difficile A/B. Symptoms of enteric diseases may include diarrhea, fever, abdominal pain, dehydration, and even death, if not treated properly. Treatment varies, depending on cause and severity of the disease.
Enteric infections enter the body through the mouth and intestinal tract, and are usually spread by contaminated food, water, or contact with contaminated feces. It has been estimated by the Centers for Disease Control that 76,000,000 cases of foodborne illness occur every year in the United States, with over 5000 associated deaths. The highest death rates occur in the elderly and in infants. Worldwide, CDC estimates that over two million deaths in young children occur every year from diarrheal illness caused by contaminated food and water. The World Health Organization has data indicating that diarrheal diseases account for 15 to 34 percent of all deaths in certain developing countries, with the overall death toll between 4 million and 6 million annually, occurring primarily in pre-school children, the elderly, and the immunocompromised.
“With relatively few competitors and high gross margins, we are excited to be expanding our gastrointestinal test line to include these new enteric disease tests,” said Zackary Irani, CEO of Biomerica.
The Company is currently transferring the production of these products to Biomerica’s new facilities and estimates that the transfer will be completed during the first six to eight months of 2010. These products will initially be sold internationally and in the U.S. only after FDA clearance. The terms of the transaction were not disclosed.
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global medical technology company, based in Irvine, CA. The Company manufactures and markets advanced diagnostic products used at home, in hospitals, and in physicians’ offices for the early detection of medical conditions and diseases.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, growth of business, favorable positions, expansion, expected orders, leading market positions, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company’s operating results due to its business model and expansion plans, downturns in international and or national economies, the Company’s ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company’s dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.
Contact :
Zackary Irani
Tel: 949-645-2111
