VANCOUVER, British Columbia, March 29, 2016 (GLOBE NEWSWIRE) -- BioMark Diagnostics Inc. (“BioMark” or the “Company”) (CSE:BUX) (FSE:20B) (OTCQB:BMKDF) is pleased to announce that it has now completed its response to lung cancer treatment protocol and has successfully been granted approval by both Health Canada and the Ethics Review Board. Having received both approvals for this protocol, the Company can now commence its preliminary pilot study at CancerCare Manitoba, expected to commence late April 2016.
President and CEO of BioMark Rashid Ahmed states: “Health Canada approval for our lung cancer treatment protocol is an important achievement for BioMark. Our technology offers real clinical value and offers physicians a cheaper and faster prognosis biomarker for prediction of chemotherapy response as well as a positive/negative indicator of the prognosis for patients with a lung cancer diagnosis. This is a large and underserved market that BioMark intends to additionally capture. We anticipate 2016 to be a milestone year for the Company with the completion of the 200 patient clinical trial and the commercialization of its early detection red alert technology.”
BioMark’s technology platform is robust and can be used as a Cancer Management System with application in early detection, measuring response to both drug and surgical treatment and potentially for serial cancer monitoring. BioMark is investigating and continually developing multiple clinical applications of its platform metabolomics based technology. The Company has recently closed the first tranche of private placement of over $400,000 CAD to be used for the continuation of the company’s clinical trials, marketing initiatives and general working capital.
Background
Current projections predict a substantial increase in cancer rates in the general population. Currently 1 in 4 deaths in the United States is due to cancer, making it the second leading cause of death, behind cardiac disease. Within 10 to 15 years cancer will overtake cardiovascular disease as the leading cause of death. Although the American Cancer Society recommends that those over 40 years of age undergo yearly cancer check-ups, this recommendation is usually not followed. When patients present to their physicians with symptoms of cancer at a later stage of development, survival tends to be poorer.
For advanced-stage malignant disease, systemic chemotherapy is one of the main choices for therapy. The objectives are usually palliative in intent: i.e., to maintain or improve symptoms and quality of life, with the additional benefit of improving the survival duration – though falling short of cure in most cases. Evaluation of response is often challenging as it may require several months to assess regression using conventional techniques of physical examination, radiographic studies and/or conventional laboratory biochemistry studies. Serum tumour markers provide early indications but are not available for many common types of cancer such as lung cancer. Therefore, many patients may endure side-effects of therapy for several months before clinicians are able to determine if therapy will be effective in achieving the intended therapeutic outcomes.
About BioMark Diagnostics Inc.
BioMark Diagnostics is developing proprietary, non-invasive, and accurate cancer diagnostic solutions, which can help detect, monitor and assess treatment for cancer early and cost effectively. The technology can also be used for measuring response to treatment and potentially for serial monitoring for cancer survivors. For more information please visit the company website at: www.biomarkdiagnostics.com
On Behalf of the Board of Directors
BIOMARK DIAGNOSTICS INC.
“Rashid Ahmed Bux”
CEO and Director
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.
The CSE has not reviewed, approved or disapproved the content of this press release.