LONDON, April 25, 2012 /PRNewswire/ -- Bio-AMD, Inc. is pleased to announce that Bio AMD Limited, our majority owned medical devices subsidiary ("Bio-AMD", "We" or the "Company"OTCBB: BIAD.OB,OTCQB: BIAD) has submitted a patent application for a light sensor component used in its Digital Strip Reader ("DSR") device.
The patent application has been made to the UK Intellectual Property Office. The new light sensor is a vital part of the DSR used to detect the colour change of the lateral flow test strip to produce a semi quantitative digital measurement. It comprises multiple photodiodes formed on a single silicon wafer by vapour deposition, forming an integrated Quad Solar Cell Sensor ("QSCS").
Compared to an array of individual photodiodes "packaged" together, the QSCS light sensor offers significant advantages; it is compact, able to cope with lower tolerances and has increased accuracy due to its uniformity. It is also far easier and cheaper to manufacture, the light sensor forming a significant proportion of the cost of the electronics in the DSR device. The QSCS can be produced for around only 1/5 of the cost of an equivalent "packaged" array. This cost of production saving is particularly relevant to DSR's application to digital pregnancy testing, our initial target market for DSR licencing.
An initial run of QSCS sensor units has been produced for incorporation into DSR test units.
The DSR technology is a patented method of reading and quantifying traditional chromatography based, lateral-flow immunoassays including pregnancy and fertility testing, cardiac markers, infectious diseases and drug testing. Compared to existing analog tests DSR offers increased sensitivity and semi-quantitative measurement, allowing earlier diagnostic testing with improved accuracy.
The DSR hand-held reader device incorporates portability, scalability and repeatability with low manufacturing costs. Our technology also runs on photo-electric power, avoiding the need for chemical batteries and the disposal issues arising from them.
About Bio-AMD, Inc.
Bio-AMD has two majority owned UK subsidiaries: Bio-AMD Limited, a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the WOCU™, a global currency data reference source for application in financial markets. (www.wocu.com).
Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2011 filed on March 29, 2012. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
CONTACT: Bio-AMD, Inc.
Tom Barr, CEO
+44 (0)8445 861 910
SOURCE Bio-AMD, Inc.