BioMark Secures Funding to Accelerate Development of Its Liquid Biopsy Assay in Quebec
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2021) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark") an advanced stage liquid biopsy company with a focus on hard to detect and treat cancers is pleased to announce today that its Quebec-based subsidiary, BioMark Diagnostic Solutions Inc ("BDS")., is receiving advisory services and funding of up to CAD $169,550 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support research and development of its liquid biopsy assay for the early detection and screening of lung cancer.
In addition to technical and business advisory services provided by NRC IRAP, the funding will be utilized by BDS to perform validation and verification studies including the completion of internal standards development with a clear objective of accelerating the commercialization of BioMark's liquid biopsy platform for early lung cancer detection.
"We are delighted and extremely grateful to have this support from NRC IRAP as we continue to build an innovative platform for the early detection of lung cancer that help clinicians, healthcare system as well as at risk Canadian get access to more accurate diagnosis," says Dr. Jean-François Haince, General Manager at BDS. "It has been a pleasure to have worked on this application with support from the NRC IRAP team and we look forward to completing the next required set of nonclinical and validation studies so that we can rapidly proceed into commercialization."
Last week, BioMark announced that it is supporting lung cancer awareness and that by developing proprietary, non-invasive, and accurate lung cancer screening and monitoring assays it is supporting improvement of patient care throughout the lung cancer continuum of care. Mr. Rashid Bux, CEO of BioMark, stated: "It's an opportune time for this announcement as we recognize and support the Lung Cancer Awareness Month." Lung cancer is the leading cause of cancer-related deaths worldwide with an estimated 1.69 million deaths each year. In Canada, more than 28,000 are diagnosed and more than 21,000 people die from lung cancer annually. "We understand the importance of this month and BioMark has been developing and now closer to commercializing a simpler, inexpensive, and more accurate test for early detection of lung cancer that have the potential to disrupt the management of people at higher risk due to smoking history, other respiratory diseases linked to lung cancer and other environmental exposures, leading to better screening modalities and reduced healthcare burden globally," added Mr. Rashid Bux.
About BioMark Diagnostics Inc.
BioMark 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 of cancer survivors.
For further information on BioMark, please Contact:
Rashid Ahmed Bux
President & CEO
BioMark Diagnostics Inc.
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.
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