European Patent Office To Grant Biomoda Patent
August 02 2011 - 9:21AM
Business Wire
Cancer diagnostics company Biomoda, Inc. (OTC BB: BMOD)
(www.biomoda.com) received notification from the European Patent
Office (EPO) of its intention to grant the company’s patent
application related to a method of using Biomoda’s proprietary
porphyrin-based compound to detect cancer and pre-cancerous cells
in body fluid and tissue samples.
“According to the World Health Organization, there are 215
million current smokers in the European Union and tobacco is the
leading contributor to the disease burden in more than half the EU
countries,” Biomoda President John Cousins said. “The potential
European market for the CyPath® diagnostic assay is five times the
U.S. market, representing a significant revenue stream
post-commercialization of the technology. With the EPO patent, we
may be able to launch CyPath® as a screening tool in Europe and
start collecting revenue from sales prior to FDA approval in the
U.S.”
European Patent Application No. 01987011.2, “Composition and
Methods for Detecting Pre-Cancerous Conditions In Cell And Tissue
Samples Using 5, 10, 15, 20-Tetrakis (Carboxyphenol) Porphine,” is
similar to Biomoda’s U.S. patent 6,838,248, which was issued in
2005. Foreign equivalents are also effective in Canada, Mexico,
Japan and Australia.
“The EPO is committed to high standards for quality and
innovation,” Biomoda CEO Maria Zannes said. “The EPO’s decision to
grant our patent is an important addition to our patent portfolio
and may open the door to additional sources of funding to continue
our push toward FDA approval and commercialization.”
The European Patent Office cooperates with the U.S. Patent and
Trademark Office and the Japan Patent Office as part of a
cooperative program established to improve the efficiency of the
global patent system.
About Biomoda
Biomoda (www.biomoda.com) is focused on the development of
accurate, inexpensive and non-invasive tests for the early
detection of cancer. In addition to its first product for lung
cancer, diagnostic assays for cervical, breast, colorectal,
bladder, and oral cancers are targeted for development.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on estimates,
projections, beliefs and assumptions of Biomoda management at the
time of such statements and are not guarantees of future
performance. Forward-looking statements involve risks and
uncertainties in predicting future results and conditions. Actual
results could differ materially due to a variety of factors, which
are described from time to time in the company’s filings with the
Securities and Exchange Commission, including those under the
heading "Risk Factors" in the company's Annual Report on Form 10-K
filed with the SEC on March 15, 2011. Forward-looking statements
are made as of the date of this press release and are subject to
change without notice.