BioMark Receives European Patent for Cancer Diagnostic
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2020) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark") announced today that the company has been granted a patent titled "A METHOD FOR ASSAYING THE ACTIVITY OF SPERMIDINE/SPERMINE N1-ACETYLTRANSFERASE." The method comprises correlating a presence of the acetylated metabolite of rimantadine or tocainide to spermidine/spermine N1-acetyltransferase activity. The patent will cover a novel approach to diagnosing and monitoring various forms of cancer.
Cancer is one of the leading causes of deaths in the world and prevalence of the disease has been increasing. The global cancer diagnostics market size was valued at $144. 4 billion in 2018 and is expected to register a CAGR of 7.0% over the forecast period. Rising awareness and supportive government initiatives are some additional factors anticipated to boost market growth during the forecast period.
"Receiving this critical patent reaffirms our commitment to enhancing and developing our core cancer technology platform," said Rashid Bux, Chief Executive Officer of BioMark Diagnostics Inc. "This patent bolsters our intellectual property beyond a single compound, providing us the ability to select potentially better signaling candidates which can be targeted for specific or more fatal cancers. We have expanded our portfolio of solid candidates that supports our unique and non-invasive approach of using in many cases, a selective single dose FDA off label drugs as "smart probes" for diagnostic applications. Our approach offers clinicians and patients an additional set of tools to help better manage the cancer continuum of care."
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 for 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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