ALBUQUERQUE, N.M., March 1 /PRNewswire-FirstCall/ -- Biomoda, Inc. of Albuquerque, NM, (http://www.Biomoda.com) maker of early lung cancer detection testing and other cancer diagnostic technology, disclosed ongoing negotiations with San Francisco based Cureline, Inc., http://www.CurelinePartners.com, a multi-national biomedical sample management company, to license Biomoda’s Patented diagnostic technology for sale in Russia, Eastern Europe and Asia.
Cureline, Inc., founded in 2003 by scientists and business development experts as a custom tissue procurement organization, is San Francisco based. Cureline’s primary business is preclinical and clinical research management services with an emphasis on medical samples acquisition, biomarkers discovery and co-development of novel diagnostic tests in oncology.
“Biomoda is in the process of further aligning itself with this dynamic partner to open up an important market for Biomoda’s patented diagnostic technology in Russia, Eastern Europe and Asia.” said John Cousins, President of Biomoda.
“Cureline is very interested in developing a Clinical Laboratory business in Russia, Eastern Europe and Asia, where we already have been conducting business for the past three years” said Olga Potapova, Ph.D., Cureline’s President and Scientific Director “Co-development of Biomoda’s diagnostic product fits with our strategic goals.”
Mayo Clinic (Rochester, Minn.) and Biomoda, Inc. (Albuquerque, NM) are jointly conducting a broad validation study of Biomoda’s patented technology, a non-invasive cytology based lung cancer diagnostic assay.
Biomoda’s technology is based on a patented porphyrin application that preferentially binds to cancerous or aberrant cells extracted from lung sputum samples. Cancerous cells glow red under fluorescent light to allow detection under a microscope. The patented technology is designed for cancer screening at an early stage of large populations at a reasonable cost.
Lung cancer claims more lives than any other cancer. The expected 5-year survival rate for all patients combined in whom lung cancer is diagnosed is 15 percent and by contrast, the 5-year survival rate for cases detected when the disease is still localized is 50 percent. At the present time, only 16 percent of lung cancer cases are diagnosed at this early stage.
“Safe Harbor” Statement: This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from expectations contained herein. Biomoda is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Biomoda, Inc.
CONTACT: John Cousins of Biomoda, Inc., +1-505-821-0875
