Epinex Diagnostics Receives Government Grant for Groundbreaking G1A(TM) Diabetes Test

TUSTIN, CA--(Marketwire - November 08, 2010) -

Epinex Diagnostics has been awarded a federal grant in the amount of $244,500 for the development of the G1A™ Rapid Diabetes Monitoring Index Test. The Qualifying Therapeutic Discovery Project (QTDP) grant program was created to stimulate cutting edge research by small biotechnology firms as part of the health care reform package initiated by President Obama.

These competitive grants were awarded to companies that showed significant potential to produce innovative therapies that address unmet medical needs while reducing long-term healthcare costs. Additional consideration was given to projects with significant potential to create and sustain high-quality jobs and increase US competitiveness in the medical sciences. All grant applications were reviewed and approved by the Department of Health and Human Services (HHS).

“Diabetes costs are projected to triple over the next couple of decades,” said Asad Zaidi, President and CEO of Epinex. “This grant supports the G1A™ test’s immense potential to alleviate the burden of diabetes on our healthcare system.”

The grant proceeds will be used to accelerate the G1A™ test’s development schedule, in preparation for regulatory filings to the FDA. The G1A™ test is a point-of-care test that uses glycated albumin as a glycation marker for MONTHLY diabetes monitoring. A monthly diabetes-monitoring paradigm using glycated albumin is a major component of a revolutionary approach to the management of type 2 diabetes with the potential to improve patient care and allow for the reduction of other costly diagnostic tests.

About Epinex Diagnostics, Inc.

Epinex Diagnostics is a private medical device company that develops innovative point-of-care diagnostic tests for patients and doctors. The Company specializes in rapid tests that target major deficiencies in the existing healthcare market. Epinex’ flagship product is the G1A™ Diabetes Monitoring Index Test, a patented rapid test for monthly diabetes monitoring with the potential to become a diagnostic tool. Please visit http://www.epinex.com for more information on the company.

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