ALBUQUERQUE, N.M., May 14 /PRNewswire-FirstCall/ -- John J. Cousins, CEO and President of Biomoda, Inc. (http://www.biomoda.com), a development stage medical diagnostics company, was a featured speaker at the 10th Annual States Southern Consortium of CLIA Surveyors Laboratory Training, held May 7 in Albuquerque.
Cousins' presentation, "TCPP Porphyrin Testing for Lung Cancer," outlined critical market need for a non-invasive and cost-efficient screening alternative for early detection of lung cancer.
Biomoda is currently developing and marketing inexpensive and accurate screening diagnostic products using patented porphyrin technology. The technology identifies cancerous or aberrant cells extracted from samples of lung sputum; porphyrins -- organic compounds that preferentially bind to cancerous cells -- glow red under fluorescent light and can be detected under a microscope.
Current diagnostic methods for lung cancer, including CT scans and X-rays, often detect the disease at more advanced stages. Biomoda's technology complements these tools by screening for signs of lung cancer at an earlier stage, ensuring that patients receive advanced tests at the appropriate time.
"The world market for lung and bladder cancer diagnostics is estimated to be $1 to $1.2 billion per year, and in the U.S., $250 to $300 million per year," said Cousins. "Biomoda's technology is poised to significantly influence the future of early diagnosis and treatment of lung cancer throughout the world."
Earlier this year, Biomoda and the New Mexico Institute of Mining and Technology announced their partnership with the New Mexico Department of Veterans Services to conduct a $350,000 clinical study using Biomoda's proprietary testing technology for detection of early lung cancer in the state's veterans. The New Mexico state legislature recently allocated an additional $1.3 million in funding through the Interim Tobacco Settlement Committee to the clinical screening program.
Lung cancer claims more lives than any other cancer. The expected five-year survival rate for all patients diagnosed with lung cancer is 15 percent; the five-year survival rate for cases detected when the disease is still localized is 50 percent. Presently, only 16 percent of lung cancer cases are diagnosed at this early stage.
Biomoda's technology was originally developed at Los Alamos National Laboratory.
CLIA, or the Clinical Laboratory Improvement Amendments, covers approximately 189,000 laboratory entities and is regulated by the Centers for Medicare & Medicaid Services.
Forward Looking Statement
All statements in this press release that are not historical are forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of BIOMODA's products, dependence on collaborations and partners, regulatory approvals, competition, intellectual property of others, and patent protection and litigation. BIOMODA, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in BIOMODA's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.
CONTACT: John Cousins of Biomoda, Inc., +1-505-821-0875,
investor@biomoda.com
Web site: http://www.biomoda.com/
