Toronto, Ontario--(Newsfile Corp. - November 25, 2016) - ChroMedX Corp. (CSE: CHX) (OTCQB: MNLIF) (FSE: EIY2) (the "Company"), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce that the Company has commenced testing of its biosensor component and is receiving positive results.
Testing on the biosensors commenced earlier this month at McMaster University where the Company has conducted its biosensor development initiative since early this year. Results are now being generated starting with the pH biosensor. Initial results are very positive, providing expected electrical signals in response to pH changes.
"Construction of the biosensor has been the most challenging part of our development process and we are excited that we have moved into the testing phase. Initial results have been better than expected and I am now very pleased with the pace in which our overall development program is progressing. Positive testing of the biosensor moves us much closer to the assembly of the initial prototype." said Ash Kaushal, President & CEO, ChroMedX Corp.
The HemoPalm technology's biosensor array is one of two main components of its handheld blood analyzer system. The Company reported on the proof-of-concept on the spectroscopic component at the end of last year, and this year has been focused on the development of the biosensor component. The spectroscopic component is essential for measuring five different hemoglobin species in blood, referred to as CO-oximetry, plus bilirubin; the biosensor technology is essential for measuring pH, blood gases and electrolytes.
Since July 2016 the HemoPalm development initiative has been led by ChroMedX President & CEO, Ash Kaushal. Mr. Kaushal is managing the biosensor development as a joint effort with Conductive Technologies Inc., PA and the Biointerface Institute of McMaster University. This collaboration is now producing positive results as testing continues.
Earlier this week the Company announced the filing of international patent protection in Europe, China, Japan and South Korea. 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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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
