TORONTO, ON / ACCESSWIRE / April 24, 2017 / ChroMedX Corp. (CSE: CHX) (OTCQB: MNLIF) (FSE: EIY2) (the "Company"), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce the filing of a second PCT (International) patent application describing its HemoPalm platform. The application's purpose is to protect innovations and improvements discovered during development and extend patent protection until 2037.
ChroMedX filed a first PCT patent application, entitled, "Joint Spectroscopic and Biosensor System for Point-of-care Testing System," on the HemoPalm technology in May 2015, which resulted in US Pat No. 9,470,673, CA Pat No. 2,911,318, and pending patents in Europe, China, India, Japan, and S. ;Korea. Since filing the first PCT application in 2015, ChroMedX has continued to refine its cartridge technology through research and development for better functionality.
"The new application reflects the considerable success we have had in the refinement and evolution of our technology. The HemoPalm will improve the quality of emergency and hospital care worldwide and the issued and pending patents play an invaluable role in protecting the technology in the global marketplace. As we've developed the product, we have discovered new innovative solutions that have enhanced the capability of the system and it is very important that these are protected," said Ash Kaushal, President & CEO, ChroMedX Corp.
The improvements outlined in the new application have made the cartridge and its applications more efficient, reliable, and cost effective.
Labeled Diagram
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Prototype Cartridge
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The HemoPalm technology is designed to improve diagnostic efficiencies by expediting the analysis and treatment process in existing and emerging international markets. The HemoPalm platform provides first responders and hospital medical personnel the ability to perform rapid point-of-care testing of individuals in potentially life-threatening situations. Emerging economies and disaster relief situations where the use of a central lab is unavailable are key settings where the HemoPalm can make the difference in life-altering situations.
The Company recently announced the finalization of the HemoPalm 2.0 design and completion of its prototype cartridge.
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.
The HemoPalm Handheld Blood Analyzer System 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. Another competitive advantage of the HemoPalm system will be 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. CO-oximetry is the measurement of five different hemoglobin species in blood.
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.
Website: www.chromedx.com
Contact:
Investor Relations
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TF. 1-844-247-6633 ext. 2
[email protected]
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Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan," "expect, "project," "intend," "believe," "anticipate," "estimate," and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE: ChroMedX Corp.