TORONTO, ON / ACCESSWIRE / November 22, 2016 / ChroMedX Corp. (CSE: CHX) (OTCQB: MNLIF) (FSE: EIY2) (the "Company"), developer of the HemoPalmTM Handheld Blood Analyzer System, is pleased to announce the filing of global patent protection on its key patent entitled "Joint Spectroscopic and Biosensor System for Point-of-Care Testing". The system includes a handheld analyzer and disposable cartridges.
ChroMedX received a US patent in September of this year and has now filed for patent protection in the remaining major international markets of Europe, India, China, Japan and South Korea. With these filings, the Company now has patent protection on the HemoPalm System in the global marketplace. ChroMedX has held the patent in Canada since June 2016.
"The HemoPalm system has a unique competitive advantage in the market. Securing global patent protection, although costly, significantly increases the value of the technology. These markets account for the majority share of the estimated US $1.5B blood gas market and we have the makings of an industry leading technology." said Ash Kaushal, President & CEO, ChroMedX Corp.
ChroMedX's HemoPalm is the only handheld blood analysis technology which combines Blood Gases & Electrolytes with full CO-oximetry. Currently this combination is not available on any of the handheld analyzers on the market. Existing technologies require users to purchase a second device to carry out the CO-oximetry. The Company's technology has the advantage of being able to offer a single handheld blood analyzer that provides all the required tests for Blood Gases & Electrolytes, with full CO-oximetry and bilirubin.
The global market for Blood Gases & Electrolytes was estimated to be 1.5 Billion $US in 2015 and is projected to reach over 1.8 Billion by 2020. The in-vitro diagnostics/Point-of-Care market is growing at a rapid pace with a clear trend of moving laboratory analysis to the patient. The HemoPalm platform will provide point-of-care testing in the Emergency Dept., Intensive Care Unit, and in the field by first responders. Bilirubin, for detecting neonatal jaundice, is a separate market that will also be serviced by the HemoPalm Handheld Blood System.
Another competitive advantage of the HemoPalm system is its ability to draw capillary blood directly from a pin-prick site into the cartridge, providing an alternative to arterial blood. Drawing arterial blood is painful and can cause nerve damage.
The above-mentioned patent has been issued in the USA as US Pat. No. 9,470,673, and in Canada as Pat. No. CA 2,911,318. A complete list of the Company's intellectual property can be found on the ChroMedX website at http://www.chromedx.com/intellectual-property/
About ChroMedX Corp.
ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company's issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.
Website: www.chromedx.com
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Investor Relations
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SOURCE: ChroMedX Corp.