Zenosense, Inc. (OTCQB:ZENO) - Breaking News -
September 5, 2018
Zenosense, Inc.: MIDS Medical
JV to Receive Funding of up to $1.2million
VALENCIA, SPAIN
- September 5, 2018 -- Zenosense, Inc. (OTCQB:
ZENO)
("Zenosense", the "Company"), a healthcare technology company focused on
the development and commercialization of the MIDS Cardiac™ hand-held technology
for the early detection of heart attack at the Point of Care, is pleased to
announce that its MIDS Medical Ltd. joint venture (“MML") has entered a staged
funding for the next phase of development of MIDS Cardiac.
On 31 August, 2018 MML entered into an agreement with a third party investor for
funding of up to an aggregate amount of $1,200,000 (“Agreement”). This funding
is expected to cover the costs of the next crucial development phase of the MIDS
Cardiac microfluidic test strip which aims to embody a high sensitivity (“HS”)
troponin assay or a similar assay to prove the MIDS system on a live test.
As reported on June 19, 2018 the patented MIDS technology has successfully
detected commercial assay beads at a level approximately four times better than
the threshold advised by MML’s assay consultants as required for a HS troponin
assay.
The next phase development plan includes;
- Design and create an active version of the MIDS microfluidic strip,
including the closer integration of the MIDS magnetic sensors to improve the
detection levels even further;
- In conjunction with a leading assay development Company contracted to MML
design, develop and embody a live HS assay on the MIDS test strip;
- Refinements of electronic circuitry and software, system testing and data
collection; and
- The creation of compliance dossier.
MML’s work is ongoing and it plans to expand its development operations by
engaging a number of specialists in the fields of electronics, microfluidics and
software development to carry out the work required.
The outcome of this next phase is intended to prove to industry that the MIDS
magnetic detection method can detect and accurately quantify a live HS assay on
the MIDS microfluidic test strip. If successfully completed, the Company
believes this will demonstrate that MIDS Cardiac can be used at the Point of
Care for HS Troponin testing and is ready for final device development.
HS Troponin testing for myocardial infarction at the Point of Care would meet a
critical unmet medical need. It is expected to be of intense interest to global
diagnostic majors and the proof of concept should also open up substantial
opportunities for the MIDS system to be applied to numerous other immunoassay
tests.
Under the Agreement MML will receive an initial aggregate amount of $300,000 in
exchange for ordinary shares in MML representing a 2.91% equity ownership, with
the option to make scheduled payments up to an additional $900,000. The full
$1,200,000 investment would equate to a final 10.31% equity ownership in MML.
Details of the Agreement have been filed on form 8K with the Securities and
Exchange Commission.
About Zenosense, Inc.
Zenosense Inc., through a joint-venture ownership in MIDS Medical Ltd., is
primarily focused on the development of a cost-effective, hand-held Point of
Care rapid cardiac diagnostic device, MIDS Cardiac. MIDS Medical applies
patent-protected magnetic nanoparticle detection technology and a development
team with world-class technical expertise. The MIDS Cardiac device and test
strip is being designed to support a variety of rapid high sensitivity cardiac
biomarker tests, with a focus on troponin I and T, to identify or discount Acute
Myocardial Infarction with accuracy equal or superior to high sensitivity assays
performed on laboratory analyzers. To find out more about Zenosense, visit
www.zenosense.com
Forward-Looking Statements
Statements in this news release that are not statements of historical fact are
forward-looking statements, which are subject to certain risks and
uncertainties. Forward-looking statements can often be identified by words such
as "expects,” "intends,” "plans,” "may,” "could,” "should,” "anticipates,”
"likely,” "believes" and words of similar import. Forward-looking statements are
based on current facts and analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determined and
assumptions of management. Actual results may differ materially from those
expressed or implied by forward-looking statements due to a variety of factors
that may or may not be foreseeable or within the reasonable control of the
Company. Readers are cautioned not to place undue reliance on such
forward-looking statements. Additional information on risks and other factors
that may affect the business and financial results of the Company can be found
in filings of the Company with the U.S. Securities and Exchange Commission,
including without limitation the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed
on filed on April 17, 2018, and in Company reports filed subsequently thereto.
Except as otherwise required by law, the Company disclaims any obligations or
undertaking to publicly release any updates or revisions to any forward-looking
statement contained in this news release to reflect any change in the Company’s
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. Respective statements
concerning the development of both MIDS Cardiac™ and other devices under
development have been made based on information obtained from MIDS Medical Ltd.,
which the Company believes to be accurate, but have not been independently
verified.
Contact:
Zenosense, Inc.
www.zenosense.com
Tel: +34 960 454 202
ir@zenosense.net
Source: Zenosense, Inc.
Zenosense Trading on the OTCQB
Venture Market
VALENCIA, SPAIN,
July 10, 2018 -- Zenosense, Inc. (OTCQB:
ZENO)
("Zenosense", the "Company"), a healthcare technology company focused on
the development and commercialization of the MIDS Cardiac™ hand-held device for
the early detection of heart attack at the Point of Care, is pleased to announce
that the Company is now trading on the OTC Markets Group OTCQB “Venture Market”.
Investors can find current financial disclosure, company news and Real-Time
Level 2 quotes for Zenosense at:
http://www.otcmarkets.com/stock/ZENO/quote
The OTCQB is recognized as an Established Public Market by the U.S. Securities
and Exchange Commission and is a leading market for entrepreneurial and
development stage U.S. and international companies.
To be eligible, companies must be current in their financial reporting, pass a
minimum bid price test, and undergo an annual company verification and
management certification process. The OTCQB Venture Market quality standards
provide a strong baseline of transparency, as well as the technology and
regulation to improve the information and trading experience for investors. As a
verified market with efficient access to U.S. investors, OTCQB helps companies
build shareholder value with a goal of enhancing liquidity and achieving fair
valuation.
About Zenosense, Inc.
Zenosense Inc., through a joint-venture ownership in MIDS Medical Ltd., is
primarily focused on the development of a cost-effective, hand-held Point of
Care rapid cardiac diagnostic device, MIDS Cardiac. MIDS Medical applies
patent-protected magnetic nanoparticle detection technology and a development
team with world-class technical expertise. The MIDS Cardiac device and test
strip is being designed to support a variety of rapid high sensitivity cardiac
biomarker tests, with a focus on troponin I and T, to identify or discount Acute
Myocardial Infarction with accuracy equal or superior to high sensitivity assays
performed on laboratory analyzers. To find out more about Zenosense, visit
www.Zenosense.com
Forward-Looking Statements
Statements in this news release that are not statements of historical fact are
forward-looking statements, which are subject to certain risks and
uncertainties. Forward-looking statements can often be identified by words such
as "expects,” "intends,” "plans,” "may,” "could,” "should,” "anticipates,”
"likely,” "believes" and words of similar import. Forward-looking statements are
based on current facts and analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determined and
assumptions of management. Actual results may differ materially from those
expressed or implied by forward-looking statements due to a variety of factors
that may or may not be foreseeable or within the reasonable control of the
Company. Readers are cautioned not to place undue reliance on such
forward-looking statements. Additional information on risks and other factors
that may affect the business and financial results of the Company can be found
in filings of the Company with the U.S. Securities and Exchange Commission,
including without limitation the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed
on filed on April 17, 2018, and in Company reports filed subsequently thereto.
Except as otherwise required by law, the Company disclaims any obligations or
undertaking to publicly release any updates or revisions to any forward-looking
statement contained in this news release to reflect any change in the Company’s
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. Respective statements
concerning the development of both MIDS Cardiac™ and other devices under
development have been made based on information obtained from MIDS Medical Ltd.
and Zenon Biosystem, which the Company believes to be accurate, but have not
been independently verified.
Contact:
Zenosense, Inc.
www.zenosense.com
Tel: +34 960 454 202
ir@zenosense.net
Source: Zenosense, Inc.
Diagnostics Play Critical Role
in Medical Sector
New York, NY – June 26, 2018 –
NetworkNewsWire.com News
Coverage:
Diagnostic devices are a crucial part of the medical technology sector, and many
companies are pressing forward with work in this area.
Zenosense, Inc. (OTC:ZENO) has just announced breakthrough
quantitative test results for its MIDS Cardiac handheld diagnostic technology,
under development to provide rapid cardiac biomarker tests in emergency
settings. Thermo Fisher
Scientific,
Inc. (NYSE:TMO) has developed devices to streamline
protein characterization, improve analysis of
small
molecules, and improve the speed and confidence of laboratory spectrometry.
Merit Medical Systems, Inc. (NASDAQ:MMSI) has
recently finalized a deal with NinePoint Medical that will increase access to
NinePoint’s groundbreaking platform for the detection of esophageal cancer.
Abbott Laboratories (NYSE:ABT) has undertaken the
U.S. launch of an analyzer to help diabetics diagnose their state of health. And
Koninklijke Philips N.V. (NYSE:PHG) has acquired
Remote Diagnostic Technologies to increase its offering of frontline diagnostic
tools, which include invaluable devices for emergency medicine.
Identifying the Problem
Diagnostic devices may not
seem like one of the most glamorous aspects of medicine, but they are among the
most important. They allow medical professionals to identify the ailments of
patients and provide patients with the right treatment. Without accurate
diagnosis, the whole process falls apart.
This importance has led to
the growth of an increasingly buoyant market in diagnostic devices driven by
cutting-edge technological innovations. From handheld devices that can be used
anywhere to sophisticated, highly complex machines used in hospitals by skilled
operators, diagnostic technologies form a market worth billions of dollars each
year. Few devices or analyzers are perfect, especially regarding speed and ease
of use. New technologies that advance diagnostic sensitivity and accuracy,
reduce costs or make diagnosis more simple are in great demand. Each step
forward brings improvements in clinical care and a chance for innovative
companies to enter the market by offering advantages over established
technologies, especially at the point of care (POC).
Improving Detection for
Better Cardiac Care
Zenosense, Inc. (OTC:ZENO) recently announced breakthrough
quantitative testing results of its MIDS Cardiac technology platform.
Developed by the Company’s
MIDS Medical Limited joint venture (MML) based at the
prestigious Sci-Tech Daresbury campus in
the United Kingdom, MIDS Cardiac is a handheld POC technology for the detection
of heart attack. It is designed to help medical staff rapidly diagnose heart
attack at an early stage and so to improve treatment. By the early detection of
certain cardiac event biomarkers, MIDS Cardiac is expected to significantly
accelerate the triage, diagnosis, treatment and disposition of patients
reporting chest pain suspected as symptomatic of a heart attack.
Heart disease is the
leading killer in the western world. In Europe and the United States alone,
15 to 20 million patients a year visit the emergency departments of hospitals
reporting chest pain that could be a sign of an acute myocardial infarction,
commonly referred to as a heart attack.
Swift diagnosis helps
patients who are suffering from a heart attack as well as those who aren’t. It
allows those with heart problems to receive the treatment they need. It also
saves others from inappropriate and costly interventions.
Like any good diagnostic tool, it can save lives and save money that hospitals
need for other treatments.
MIDS Cardiac is designed to
be just such a solution. The advantage of the MIDS technology lies in its
superior detection technology and applying it to established immunoassay tests,
with the first target being troponin.
MIDS goes beyond the optical technology used by most immunoassay tests. The
analytical sensitivity gap between central laboratory testing platforms and
existing POC testing devices is significant as this bulky optical technology has
not been successfully miniaturized into high sensitivity capable, handheld
devices. In contrast, the MIDS technology uses highly sensitive, custom-built
“Hall Effect” magnetic sensors that allow it to detect extremely low levels of
magnetic field disturbance caused by immunoassay beads. As the recent results
indicate, this is expected to deliver Gold Standard, true high-sensitivity
laboratory testing at the POC with results available in minutes — enabling
high-sensitivity laboratory accuracy in emergency settings for the first time.
Breakthrough Quantitative
Results
Early detection of heart
attack by measuring very low levels of troponin released in the early stages of
a heart attack is a vital unmet medical need at the POC. Key to the MIDS
proposition is its highly portable, high-sensitivity ability to detect very low
numbers of the microscopic paramagnetic beads commonly used in immunoassay tests
and bound to these low levels of troponin.
Testing of MIDS has
been underway since last year at MML’s facility at Sci-Tech Daresbury,
United Kingdom. The nano-magnetic detection system and analytical electronics
have been tested to gain a better understanding of how the system functions and
how sensitive it is.
By running tests on different
sets of beads, MML developers have been able to refine the nano-magnetic signal
and filter out electronic noise to increase the sensitivity of the technology.
Further testing has demonstrated the effectiveness of the improving system.
While last year’s tests were successful, the recent quantitative results are
even more impressive:
Using its revised magnetic
and electronics technology, MIDS was able to detect the lowest quantities of
beads to date (numbers confirmed by an independent study conducted by the
University of Liverpool). Around 200,000 beads or less must be detected to
service a high-sensitivity troponin test. MML’s quantitative testing results
demonstrate that the MIDS technology can already detect as low as 50,000 beads.
The next steps are now to
apply this groundbreaking technology to established assay techniques used in
conventional laboratory analyzers to deliver state-of-the-art laboratory
standard, high-sensitivity cardiac troponin testing at the POC.
Improving Point of Care
Devices
The introduction of accurate
handheld devices such as MIDS Cardiac is an important step for the POC market.
Many of the most effective detection systems are too large and unwieldy to be
used at the POC. Meanwhile, the handheld devices available for POC assessment
lack the accuracy and reliability to definitively exclude the possibility of a
cardiac condition. By miniaturizing laboratory-style and accuracy testing,
Zenosense hopes to provide detection that is rapid, reliable and easily usable
on the front line of medical care.
While this is a mission that
will save lives, it is also one that could potentially bring the company a tidy
profit. Medical sensors have been a top performer within the medical technology
market for the past five years, performing even better than biotech. The global
market for cardiac biomarker diagnostic tests alone is
expected to reach a value of $7.2 billion this
year, with $1.16 billion of that projected value in POC devices. MIDS therefore
has the potential to tap into a valuable and growing market sector.
As Carlos Gil, CEO of
Zenosense, said: “These results should not be underestimated. I am not aware of
any other detection technology suitable for use at the POC, which comes anywhere
close to achieving these results. . . . I truly believe we have a blockbuster
technology in the making.”
Medical Technology Booms
Demand for ever-improving
medical care has fueled the growth of many companies providing equipment and
support for medical professionals.
Thermo Fisher Scientific,
Inc. (NYSE:TMO)
provides innovative technologies to support both patient diagnostics and medical
research. The company
showed off some of its latest advances at the 66th Annual
American Society for Mass Spectrometry conference earlier this month. There, it
displayed devices built to streamline protein characterization, improve analysis
of small molecules, and improve the speed and confidence of spectrometry work in
food and environmental laboratories.
Like Thermo Fisher, Merit
Medical Systems, Inc. (NASDAQ:MMSI) aims to innovate in medical devices and
services. By focusing on customer needs, the company has created a diverse range
of products that improve patients’ lives around the world. It has recently
entered into a
worldwide distribution agreement and strategic alliance with NinePoint Medical.
This will provide Merit customers with access to NinePoint’s groundbreaking
Optical Coherence Tomography platform, an invaluable tool in the detection of
esophageal cancer. Successes like this led the company to
record revenues in the first quarter of 2018.
With more than 125 years of
experience behind it, Abbott Laboratories (NYSE:ABT) continues to be an
important player in the medical technology field. The recent
U.S. launch of its Afinion 2 analyzer provides a fast-working multi-assay
platform that gives diabetics information about their state of health. It can be
used in a wide variety of medical settings to give quick results and so allow
patients to be analyzed and to discuss their results with a professional in a
single visit. The latest generation of the company’s XIENCE heart stent has also
recently
been approved for use in the
United States, and will provide better treatment for patients
suffering from coronary artery disease.
Koninklijke Philips N.V. (NYSE:PHG),
already a global leader in health technology, has
recently acquired U.K.-based company Remote Diagnostic Technologies (RDT).
This adds a comprehensive portfolio of emergency care solutions to Philips’
therapeutic care business, strengthening its position in the resuscitation and
emergency care field and increasing its ability to drive change and enter new
markets. The company already offers external defibrillators, advanced life
support monitors and data management solutions, helping emergency teams to
diagnose patients and provide them with the best in emergency care. With the
addition of RDT’s range of diagnostic tools, the company’s position has become
even stronger.
Diagnostic devices are a
vital part of the medical technology sector. As they become more portable and
more accurate, they help doctors to save lives and improve patients’ chances of
survival, while simultaneously supporting the growth of influential medical tech
companies.
For more information about
Zenosense, please visit
Zenosense, Inc. (OTC:ZENO)
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Zenosense, Inc.: Breakthrough
Quantitative MIDS Testing Results
VALENCIA, SPAIN, June 19, 2018 -- Zenosense, Inc. (OTCPK:
ZENO)
("Zenosense", the "Company"), a healthcare technology company focused on
the development and commercialization of the MIDS Cardiac™ hand-held technology
for the early detection of heart attack at the Point of Care, is pleased to
announce that its MIDS Medical Ltd. joint venture ("MML") has successfully
completed a second testing round of its revised detection system.
In 2017 the first next generation troponin assay for the early diagnosis of
heart attack was approved for use in the U.S. by the FDA. High sensitivity
(“HS”) troponin assays have been in use in other parts of the world for over 7
years. These assays are performed on state of the art central laboratory
analyzers, which are expensive and typically take about an hour to turnaround
results, when minutes are vital. The key to the MIDS technology is its ground
breaking ability to magnetically detect and measure diagnostic assay beads in
low enough numbers to support a HS troponin assay. MML aims to embody this
highly compact technology into an easy to use, hand-held MIDS Cardiac device for
rapid diagnosis in
emergency rooms, or by paramedics responding to chest pain patients at the
scene.
Highlights:
-
Extensive revision and
improvements to core Hall effect sensor electronics during H1 2018
-
Testing on new electronics
which confirms and materially improves upon the testing results announced in
late 2017, with a near doubling of sensitivity
-
Results achieved using two
leading brands of commercially available assay beads
-
Assay bead numbers
detected are well within the Limit of Detection (“LoD”) required for a HS
troponin assay
2018 Quantitative Testing
Results
Quantitative testing was conducted to (a) determine the minimum number of assay
beads that can be detected; and (b) to prove linearity of detection signal to
quantified bead numbers. MML has been advised by Future Diagnostics Solutions
B.V. (a leading assay developer engaged to MML) that a capability to detect
below 200,000 assay beads and preferably less than 110,000 is required to
support a HS troponin test.
Two brands of beads were tested: GE Sera-Mag™ (3μm) and Thermo Fisher Scientific
M-270 Dynabeads® (2.8 μm), both of which are regarded as suitable for a HS
troponin assay and have similar paramagnetic characteristics.
The MIDS LoD of both these brands was seen on a reliable, repeatable basis at
around 50,000 beads, with good signal linearity (required for accurate assay
quantitation) at higher numbers. This number of beads detected at the LoD is
approximately four times lower than the maximum threshold and therefore well
within the range advised by Future Diagnostics as suitable for a HS troponin
assay.
MML Managing Director and Chief Scientific Officer Dr. Nasser Djennati
commented: “MIDS is a hugely challenging development. The results of this second
round of testing are quite extraordinary, as magnetic detection at this level
for this application is unheard of. We can now move forward and apply the MIDS
detection to established assay techniques used in conventional analyzers as we
seek to deliver state-of-the-art laboratory standard, high sensitivity cardiac
troponin testing at the Point of Care.”
Improved Electronics
MML has revised its core Hall Effect sensor electronics during the first half of
2018 to further enhance the ability of MIDS to detect and accurately quantitate
the nano-Tesla magnetic signal of the relatively low numbers of assay beads
required for a HS troponin assay.
MML estimates that compared to the previous electronics, the sensitivity of the
platform has been improved by a factor of nearly 2, as well as materially
improving its stability.
Independent, Third-Party SEM Verification of Bead Numbers
MML has carried out an in-house Scanning Electron Microscope investigation (“MML
SEM”) and has received a confirmatory study carried out by the Condensed Matter
Physics group and Materials Innovation Factory at the Department of Physics of
the University of Liverpool (“Liverpool SEM”). The MML SEM and Liverpool SEM
indicate that a maximum of around 92,000 beads (Liverpool SEM) were previously
detected at the LoD in 2017.
The recent quantitative testing on the improved electronics has demonstrated a
substantial improvement on the initial testing results, now indicating that
approximately 50,000 beads of a type suitable for a HS troponin assay can be
detected at the LoD.
The Company is delighted that the achieved detection of around 50,000 beads is
already considerably lower than the maximum number suitable for a HS troponin
assay. It is confident that a further material reduction to this number at the
LoD can be achieved when unpackaged Hall effect sensors are used as planned in a
production lab-on-chip test strip.
Next Steps
MML is now planning the next key phase of development to test microfluidic
detection on the revised electronics platform and to embody a HS assay on a test
strip.
Carlos Gil, CEO of Zenosense, commented: “These results should not be
underestimated. I am not aware of any other detection technology suitable for
use at the Point of Care which comes anywhere close to achieving these results.
We are now so far within the limit of detection I am extremely confident that
high sensitivity rapid troponin testing can become a reality in emergency
settings. Achieving these results is a huge step towards that. I truly believe
we have a blockbuster technology in the making.”
Dr. Dave Dekkers, Scientist at Future Diagnostics Solutions B.V. said: “We are
impressed by the achievement of MIDS Medical Ltd. for the detection of 50,000
beads with their Biosensor. Future Diagnostics will follow MML closely on their
progress with the further development of this sensor.”
About Zenosense, Inc.
Zenosense Inc., through a joint-venture ownership in MIDS Medical Ltd.,
is primarily focused on the development of a cost-effective, hand-held Point of
Care rapid cardiac diagnostic device, MIDS Cardiac. MIDS Medical applies
patent-protected magnetic nanoparticle detection technology and a development
team with world-class technical expertise. The MIDS Cardiac device and test
strip is being designed to support a variety of rapid high sensitivity cardiac
biomarker tests, with a focus on troponin I and T, to identify or discount Acute
Myocardial Infarction with accuracy equal or superior to high sensitivity assays
performed on laboratory analyzers. To find out more about Zenosense, visit
www.Zenosense.com
Forward-Looking Statements
Statements in this news release that are not statements of historical fact are
forward-looking statements, which are subject to certain risks and
uncertainties. Forward-looking statements can often be identified by words such
as "expects,” "intends,” "plans,” "may,” "could,” "should,” "anticipates,”
"likely,” "believes" and words of similar import. Forward-looking statements are
based on current facts and analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determined and
assumptions of management. Actual results may differ materially from those
expressed or implied by forward-looking statements due to a variety of factors
that may or may not be foreseeable or within the reasonable control of the
Company. Readers are cautioned not to place undue reliance on such
forward-looking statements. Additional information on risks and other factors
that may affect the business and financial results of the Company can be found
in filings of the Company with the U.S. Securities and Exchange Commission,
including without limitation the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed
on filed on April 17, 2018, and in Company reports filed subsequently thereto.
Except as otherwise required by law, the Company disclaims any obligations or
undertaking to publicly release any updates or revisions to any forward-looking
statement contained in this news release to reflect any change in the Company’s
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. Respective statements
concerning the development of both MIDS Cardiac™ and other devices under
development have been made based on information obtained from MIDS Medical Ltd.
and Zenon Biosystem, which the Company believes to be accurate, but have not
been independently verified.
Contact:
Zenosense, Inc.
www.zenosense.com
Tel: +34 960 454 202
ir@zenosense.net
Source: Zenosense, Inc.
Zenosense, Inc.: MIDS
Shareholder Update
VALENCIA, SPAIN, May 24, 2018 -- Zenosense, Inc. (OTCPK:
ZENO)
("Zenosense", the "Company"), a healthcare technology company primarily focused
on the development and commercialization of MIDS Cardiac™, a Point of Care
handheld device for the early detection of certain cardiac event biomarkers. We
believe that MIDS Cardiac will significantly accelerate the triage, diagnosis,
treatment and disposition of patients reporting chest pain symptomatic of acute
myocardial infarction (heart attack). The MIDS Cardiac development is being
carried out by our MIDS Medical Limited joint venture ("MML") based at Sci-Tech,
Daresbury (UK).
The Company notes the recent decline in its share price and knows of no
operational reason for this. The development by MML of the MIDS technology
platform is progressing as planned. Within the next few weeks the Company
expects to receive the following development information from MML:
A summary of revisions and enhancements to the core MIDS electronics as a result
of research and development work carried out by MML during the latter part of
2017 and to date in 2018. These enhancements are expected to deliver a material
improvement in the MIDS platform capability in respect of the sensitivity and
reproducibility of assay bead detection.
Results from tests using the revised electronics to be carried out on two brands
of commercially available composite assay beads of a type believed to be
suitable for a high sensitivity troponin assay.
These quantitative results will include definitive numerical estimates of the
numbers of assay beads that have been detected, verified by a qualified and
independent third party, so that the diagnostic industry can be better informed
of the MIDS capability.
A further update will be issued in due course on receipt of the above
information.
About Zenosense, Inc.
Zenosense Inc.'s primary focus, through our joint venture ownership in MIDS
Medical Ltd., is the development of a cost-effective, hand-held Point of Care
rapid cardiac diagnostic device, MIDS Cardiac™, and is also the holder of an
exclusive global license agreement to develop and market effective medical
devices for use in hospitals and primary healthcare settings targeting the early
detection of both deadly bacteria and certain cancers in the exhaled breath of
patients.
To find out more about Zenosense (OTC PINK: ZENO), visit our website at
www.zenosense.com.
Forward-Looking Statements
Statements in this news release that are not statements of historical fact are
forward-looking statements, which are subject to certain risks and
uncertainties. Forward-looking statements can often be identified by words such
as "expects,” "intends,” "plans,” "may,” "could,” "should,” "anticipates,”
"likely,” "believes" and words of similar import. Forward-looking statements are
based on current facts and analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determined and
assumptions of management. Actual results may differ materially from those
expressed or implied by forward-looking statements due to a variety of factors
that may or may not be foreseeable or within the reasonable control of the
Company. Readers are cautioned not to place undue reliance on such
forward-looking statements. Additional information on risks and other factors
that may affect the business and financial results of the Company can be found
in filings of the Company with the U.S. Securities and Exchange Commission,
including without limitation the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed
on filed on April 17, 2018, and in Company reports filed subsequently thereto.
Except as otherwise required by law, the Company disclaims any obligations or
undertaking to publicly release any updates or revisions to any forward-looking
statement contained in this news release to reflect any change in the Company’s
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based. Respective statements
concerning the development of both MIDS Cardiac™ and other devices under
developmenthave been made based on information obtained from MIDS Medical Ltd.
and Zenon Biosystem, which the Company believes to be accurate, but have not
been independently verified.
Contact:
Zenosense, Inc.
Email: ir@zenosense.net
Tel: +34 960 454 202
Web: www.zenosense.com
Source: Zenosense, Inc.
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About Zenosense, Inc.:
The Revolution in Cardiac Diagnostics
Zenosense, Inc. (OTC:ZENO) participates in the development of transformational
medical diagnostic technologies: hand-held devices used at the Point of Care
replacing slow and expensive laboratory testing. Our core focus through our
joint venture in MIDS Medical (http://midsmed.com/) is the development and
commercialisation of MIDS Cardiac™. A hand held device being developed for use
at the Point of Care for the rapid testing of cardiac markers delivering results
equal or superior to laboratory gold standard accuracy within minutes. A device
which can revolutionize the diagnosis and management of suspected Acute
Myocardial Infarction (AMI).
Our team of professionals has world class expertise and technical know-how of
the application of highly specific nano magnetic particle technology to medical
testing. This knowledge, alongside their commercial experience of the Point of
Care market, puts MIDS Medical in an excellent position to commercialise MIDS
Cardiac™ and become the leading innovator in this field.
Laboratory
The MIDS Medical laboratory is located at the prestigious, UK Government
supported Sci-Tech Daresbury campus in the UK. Sci-Tech Daresbury is
internationally recognised for leading-edge scientific research and commercial
development.
Cardiovascular disease is the leading cause of death in the Western World
> Accounting for more than 17 million deaths p.a. In Europe and the US alone
approximately 15-20 million patients a year visit an
> Emergency Department (ED) reporting chest pain which must be investigated as
possibly caused by a cardiac event.
Acute Myocardial Infarction (heart attack, Acute Myocardial Infraction “AMI”)
affects all of us at some point in our lives, directly or indirectly, Rapid
diagnosis is key; treatment in the first “Golden Hour” being crucial to
survival. Equally, early “rule out” of AMI as the cause of chest pain can save
healthcare providers $billions.
TECHNOLOGY
Immunoassay tests are commonly used to diagnose a whole host of disease /
medical conditions. In general the technology behind them relies on the
manipulation of magnetic nanoparticles. However laboratory and Point of Care
tests generally use optical technology to detect these particles; only around
30% of particles can be detected in this way, severely limiting accuracy.
Where others finish up, we start detecting. To a whole new level of accuracy:
The MIDS patented technology not only uses a bespoke optical sensor like other
devices, but also utilizes miniaturised, highly sensitive custom built “Hall
Effect” magnetic sensors embedded within a test strip as a Lab-On-Chip device.
This patented technology can detect extremely low levels (nano-Tesla) of
magnetic field disturbance caused by discrete test particles; In simple terms,
instead of optically reading “clumps of particles” by standard methods,
magnetically identifying the signature of discrete particles is expected to
produce a substantially more accurate test result within minutes. A rapid test
system that accurately measures troponin I and T and other key cardiac markers
is, we believe, a blockbuster technology. It should be a “Must Have” for global
diagnostic companies.
Market Opportunity
The global market for cardiac biomarker diagnostic tests is projected to reach
$7.2 billion by 2018, of which $1.16 billion is expected to be served by Point
of Care devices. The Point of Care market is in its infancy; existing Point of
Care hand held
devices
are not accurate or reliable enough to definitively exclude AMI. Our ultimate
goal is to match or exceed current “Gold Standard” high-sensitivity cardiac
assays, currently carried out on relatively slow, hugely expensive laboratory
analyzers. One multinational diagnostic company claiming the highest levels of
accuracy on the market for a Point of Care cardiac marker device in reality
achieves a mere 65% sensitivity (correctly identifying the condition).
This poor sensitivity comes nowhere near what we expect MIDS Cardiac™ device to
achieve. And despite the shortcomings of Point of Care cardiac devices currently
on the market, 100’s of millions of dollars per year are generated from device
and strip sales to simply aid the diagnosis of AMI in conjunction with ECG and
clinical symptoms. We are confident that our technology platform will deliver
unparalleled levels of accuracy, speed, reliability, ease of use and cost
savings which will make it the device of choice for hospitals, ERs, family
practitioners, paramedics and low resource settings. It is no wonder the MIDS
technology is already attracting interest from a number of the global majors.
The Future
Cardiac is just the first MIDS application. The MIDS technology platform could
be adapted to a vast array of Point of Care immunoassay tests, taking them to a
whole new level of accuracy, cost, ease of use and speed of testing: A
multi-capability Point of Care device with laboratory “Gold Standard” accuracy
for testing for conditions such as Chlamydia, prostate, colorectal and other
cancers, stroke tests, sports anti-doping tests, Drugs of Abuse, insulin tests,
H. Pylori, Inflammatory & Autoimmune disease, Influenza, Legionella,
Osteoporosis, Endocrine tests, Respiratory Virus, pneumonia, Blood infections,
Streptococcus, Meningitis, Rheumatism, Hepatitis, HIV, Viral tests, and many
more. These common medical tests are performed all day long at huge expense in
medical testing laboratories worldwide, in a market projected to be worth $23.7
billion per year worldwide by 2019.
A successful development of MIDS Cardiac™ is expected to be the first step in
the development of technology platform which can serve a whole host of these
other critical tests. The MIDS technology super-accurate quantitation,
applicable to a new generation of High Sensitivity medical tests, could be the
most significant advance in decades, representing the Holy Grail of diagnostic
testing.
Our development team has:
> World class expertise in the field of quantitative micro-magnetic and
luminescence measurement techniques and applying that specialism to measure
density and behavior of particulate markers within body fluids.
> Thirty years cumulative experience in magnetic measurement and magnetic sensor
(Hall Effect and Bio-Sensors) design and specifically in magnetic nano-particle
applications within the medical and bio-engineering Point of Care field.
> High level experience of dealing with the measurement of changes within body
fluids and tissues in micro and nano environments.
> Extensive experience in the design and development of small, low cost Point of
Care measurement devices that read changes occurring on input strips, from an
engineering, physics (optics and magnetic), reader software and end user
perspective.
> Clear understanding of quality standards, timescales, processes and testing
rigours required in the Point of Care healthcare area.
> Established relationships with commercial partners capable of creating license
revenue for enhancements of existing market products and to develop multiple new
revenue streams from new applications.
> A broad skills base across its management team covering scientific, technical
and financial expertise. Team members have experience of closing deals related
to products in this sector.
SOURCE: http://www.zenosense.com/
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