VANCOUVER, British Columbia, Aug. 13, 2015 (GLOBE NEWSWIRE) -- BioMark Diagnostics Inc. ("BioMark" or the "Company") (CSE:BUX) (FSE:20B), a leader in next-generation diagnostics using metabolites, announces its strategy to expand operations into the U.S. with headquarters in Maryland's world-class biotechnology center.
"Expansion of operations into the U.S. market is a critical step in our growth plan," said Rashid Ahmed, BioMark's President and CEO. "This move will support our ability to build upon our leadership position in developing highly sensitive diagnostics that can detect cancer at its very early stages using our proprietary metabolite approach. We are making significant progress in strengthening the clinical validation for our metabolite approach and we are looking to build on the BioMark brand in the U.S. market."
Key aspects of the BioMark U.S. strategy include:
- Expanding BioMark operations into the U.S. by establishing U.S. headquarters in the Maryland biotechnology center.
- Appointing Dr. Thomas Malcolm as Chief Scientific Officer and Head of U.S. Operations, to lead its U.S. operations, as previously announced.
- Submitting our SSAT-1 Acetyl Amantadine assay for regulatory approval to first Health Canada in the first half of 2016 and later to U.S. Food and Drug Administration (FDA). BioMark is currently in the process of collecting and validating additional data points in preparation for these submissions.
"We are basing our decision to expand operations to Maryland on the strength and reputation of its biotech ecosystem, as well as an invitation from Maryland's Department of Business and Economic Development's BioMaryland Center," added Mr. Ahmed. "We believe that locating our U.S. operations in Maryland will support our efforts to collaborate with leading academic and clinical institutions, which is a vital part of our growth strategy. We already have key ties with critical suppliers and luminary research engineers in Maryland and adjacent states, including Diagnostic anSERS Inc., a producer of affordable ink-jet printed surface enhanced raman spectroscopy (SERS) substrates. This is an important part of our future development plans."
The state of Maryland has been recognized for its premier center for biotechnology innovation and supportive infrastructure, and is strategically located in close proximity to the FDA and the National Cancer Institute.
About BioMark Diagnostics Inc.
BioMark is developing proprietary, non-invasive, and accurate cancer diagnostic solutions which can help detect cancer early and cost effectively. The technology can also be used for measuring response to treatment and potentially for serial monitoring for cancer survivors. Further information about BioMark is available under its profile on the SEDAR website www.sedar.com and on the CSE website www.thecse.ca.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.
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