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Biomoda Awarded Patent in Mexico
Monday, June 07, 2010
Albuquerque, NM -- Cancer diagnostics company Biomoda, Inc. (OTCBB: BMOD) (www.biomoda.com) has been granted a Mexican patent for its proprietary porphyrin-based compound that binds to cancer cells and causes them to fluoresce red under ultraviolet light.
Issued by the Instituto Mexicano de la Propiedad Industrial (IMPI), Mexican patent #269352, “Compositions and Methods for Detecting Pre-Cancerous Conditions In Cell And Tissue Samples Using 5, 10, 15, 20-Tetrakis (Carboxyphenol) Porphine,” is similar to Biomoda’s U.S. patent 6,838,248, which was issued in 2005. Foreign equivalents are now effective in Mexico, Japan and Australia and are pending in Europe and Canada.
“This patent represents another step in protecting our intellectual property rights internationally,” said Biomoda President John Cousins. "We are strategically building our IP portfolio with an eye on the eventual commercialization and marketing of our CyPath® diagnostic assay to address the global issue of lung cancer mortality.”
The 5, 10, 15, 20-tetrakis (carboxyphenyl) porphine, or TCPP, is the foundation for several Biomoda product lines and medical diagnostics. The company is concluding Phase II clinical trials of its first product, an in-vitro test for the detection of early-stage lung cancer, in which study volunteers provide deep-lung sputum samples to be screened for cancer cells with the CyPath® assay. Results are compared to CT scans and Pap stains read by independent radiologists and cytopathologists, respectively, to confirm accuracy.
Biomoda is seeking Food and Drug Administration (FDA) approval of its cytology-based screening technology as a Class III medical device. Pending FDA approval, CyPath® is for investigational use only.
Based, in Albuquerque, N.M., Biomoda is a cancer diagnostics company focused on the development of accurate, inexpensive and noninvasive tests for the early detection of cancer in large populations. In addition to its first product for lung cancer, diagnostic assays for cervical, breast, colorectal, bladder, and oral cancers are targeted for development.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on estimates, projections, beliefs and assumptions of Biomoda management at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, the acceptance by customers of our products, our ability to develop new products cost-effectively, our ability to raise capital in the future, the development by competitors of products using improved or alternative technology, the retention of key employees and general economic conditions. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including those under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 31, 2009. Forward-looking statements are made as of the date of this press release and are subject to change without notice.
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