Toronto, Ontario--(Newsfile Corp. - August 21, 2017) - ChroMedX Corp. (CSE: CHX) (OTCQB: CHXIF) (FSE: EIY2) (the "Company"), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce that it has retained Glendale, California based IVD marketing specialists DxEconomix Inc.
DxEconomix led by Dr. Richard Janeczko will work with ChroMedX to evaluate/analyze the patented HemoPalm Blood Analyzer System's value offering, forecasting, commercialization and marketing plan in preparation for commercial launch of the technology in 2018.
"We are excited to identify new applications and further explore the economic value of the HemoPalm. The expertise of Dr. Janeczko and DxEconomix is a perfect addition to ChroMedX's strategic initiatives and we look forward to their analysis and formalization of the HemoPalms introduction to market." said Ash Kaushal, President & CEO, ChroMedX Corp.
DxEconomix provides unique IVD marketing services based on healthcare system-wide economic impact analyses for new products and services. Dr. Janeczko is a 25 year veteran of the in-vitro diagnostic industry and has played executive and advisory roles specializing in the marketing and management of molecular and sequencing assays, proteomics, companion diagnostics, and personalized medicine.
"Success in today's healthcare reform environment is driven by both clinical and economic impacts of new products and services. Health economic analyses establishes real world value propositions and forms the basis for value-based pricing strategies and maximizing ROI's. At Dx Economix we are very excited to be working with ChroMedX and the HemoPalm product line." said Dr. Richard Janeczko CEO, DxEconomix Inc.
DxEconomix's initial focus will be to thoroughly explore the value of the HemoPalm's combined POCT analysis. The collaboration will establish a path to market related to health economics, clinical sciences, and health technology assessment and adoption in multiple markets including USA, Canada and Europe. Dr. Janeczko and DxEconomix will play an integral role on multiple fronts as the Company's technology advances towards commercialization.
About DxEconomix, Inc.
DxEconomix Inc. is a marketing group providing assistance to medical device companies including IVD businesses. Using health economic impact analyses we define the positioning landscape, value proposition and value-based pricing options for client services and products. In this way we help our clients understand the real value they bring to healthcare systems, how to use this to obtain better pricing and better understand returns on their investments. We also work with clients to optimize design inputs for new tests or adapt existing diagnostics. We develop modes of application and source key technologies to create products to overcomes market access obstacles. DxEx helps broker commercial relationships between clients and key stakeholders providing new market channels to IVD companies and creating value for healthcare systems.
Other Business
The Company also announces the grant of 200,000 options a price of $0.25 CAD
ChroMedX Website
The Company recently announced the launch of a new website at www.ChroMedX.com. Investors and individuals interested in keeping up with latest news and updates can subscribe on the Home and News pages on the Company's website or reach out on the contact page.
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.
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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.
