Archive for the ‘Biomagnetics Diagnostics Corp. BMGP’ Category

Beacon Equity Research Featured Company: Biomagnetics Diagnostics Corp. (BMGP.PK)

Monday, March 24th, 2008

Biomagnetics Diagnostics Corp. (BMGP.PK) is a biotechnology company. The Company’s primary focus is on discovering, developing and marketing new diagnostic equipment and immunoassays. An immunoassay is a biochemical test that measures the concentration of a substance in a biological liquid by using the reaction of an antibody or antibodies to its antigen.

The company’s primary product is the High Throughput Screening-Magnetic Testing Platform (HTS-MTP) diagnostic system. This system’s purpose is to detect any pathogen, whether it is viral or bacterial, by using any body fluid as the primary testing median. It is the only system of its caliber and efficiency. The HTS-MTP is capable of concluding multiple tests in a matter of minutes and is more cost efficient than its existing competition. Biomagnetics’ proprietary immunoassays are also able to more effectively target HIV and Hepatitis B viruses.

The Company has several partnerships and signed letters of intent with integral institutions and agencies. These agreements and partnerships will allow for clinical trials, manufacturing and distribution of the HTS-MTP system, and shortened regulatory approval time. Some partnerships include Instituto Mexicana del Seguro Social, Bangkok RIA Group, Tianjin Automatic Science and Instrument Co., Ltd, Shanghai Jing Yin Biotechnology Co. Ltd, and Mil Industries.

The company’s product and business plans show strong competitive advantages and are attracting interest around the world. Biomagnetics claims and anticipates system and assay sales to reach approximately $10 million in 2009 and $41 million in 2010. The company plans to enter the US and EU markets.

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Biomagnetics Diagnostic Corp. (BMGP) Breaks the Mold for Diagnostics Industry

Friday, March 14th, 2008

Biomagnetics Diagnostic Corp. (BMGP) is working to revolutionize the current diagnostic industry with its patented technologies.

The High Throughput Screening Magnetic Testing Platform (HTS-MTP) will be Biomagnetic’s first product to be released into the market. The HTS-MTP has been designed to detect a “target virus/bacteria” by measuring and defining a single paramagnetic microsphere attached to each virus/bacteria molecule. Rather than taking days or even hours for results of a virus presence, the HTS-MTP has the ability to detect the virus and count the viral load in minutes.

As stated above, the HTS-MTP has the ability to detect both bacterial and viral pathogens. It also has the capability to detect the presence of illicit drugs through blood, serum, saliva, urine, and spinal fluid samples. The HTS-MTP can be designed to identify the presence of countless drugs and bacterial and viral pathogens, as each will have a specific software program written to identify its unique pathogenic array.

Since the HTS-MTP has the ability to measure a load within minutes, the equipment can be utilized to assist the medical and drug industry to monitor the effectiveness of new drug formulations, vaccinations, and treatments on a real-time basis. There currently are no screening or confirmatory tests applied during treatments that have the ability to measure viral load. Having detailed measurements available would be a critical addition in the development of new drugs and vaccines.

Biomagnetics has decided that the Latin American and Asian markets will be their initial target markets for the HTS-MTP. The company has partnered with the Instituto Mexicana del Seguro Social (IMSS) to conduct clinical trials in Mexico. It has also completed due diligence on Shanghai Jing Ying Biotechnology, Ltd, to perform clinical trials in China. The company is also working with other companies to lay the groundwork for product distribution and manufacture in Thailand, China, and India.

Once the clinical trials in Latin America and Asia are complete, the company will market its HTS-MTP system in the United States, Sweden, China, Mexico, Thailand, and India. The company anticipates a commercial launch in the first quarter of 2009.

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Biomagnetics Diagnostics Corporation (BMGP.PK) Hoping to Revolutionize the Medical Device Market

Friday, March 14th, 2008

Working through their subsidiary, Biospectrum Technologies, Biomagnetic Diagnostics Corporation (OTC: BMGP) attains revolutionary patented technologies that can potentially revitalize the diagnostic industry.

The company’s first product being prepped for the health care market is the High Throughput Screening – Magnetic Testing Platform (HTS-MTP). The current price for a laboratory conformity test, more commonly known as Western Blot, is between $35 and $50, with a screening test set between $2.5 and $5. If a person is infected, they are often given a periodic viral load test that measures the amount of virus in an infected person. These tests cost between $80 and $120. The advantage of BMGP’s testing system (HTS-MTP) is that it performs the screening, conformity and viral load test for a single cost of $2.50. This is the only existing test that performs all three functions in a single test. Additionally, the HTS-MTP can measure the presence of a disease in any bodily fluid—blood, semen, urine, spinal fluid, tears, saliva, and so forth.

The company’s management and research team has identified Latin America and Asian markets to be in immediate need for the HTS-MTP test. With this knowledge, the company will focus their efforts on conducting clinical trials and product registration in the United States, Mexico, Thailand, China, and Sweden. Following the completion of the clinical trials in Latin America and Asia, the company will initiate a 510K registration with the U.S. Food and Drug Administration (FDA). According to figures in 2002, HIV diagnostics test conducted in the U.S. were 22.158 million, and Hepatitis B diagnostic tests in the U.S. were estimated at 31 million.

The global size of the medical device market exceeds $200 billion and the U.S. retail market exceeds $56 billion, according to Frost & Sullivan. The company has partnered with the largest social institute in Latin America, Instituto Mexicana del Seguro Social (IMSS), to conduct trials in Mexico, and has also entered into an agreement with Bangkok RIA (BRIA) Group, a laboratory manufacturer and distributor service company in Thailand.

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