Corgenix Announces Issuance Of European Patent For Aspirin Resistance Testing

Main Category: Medical Devices / Diagnostics
Also Included In: Regulatory Affairs / Drug Approvals;  Stroke;  Pharma Industry / Biotech Industry
Article Date: 25 Feb 2008 - 3:00 PDT

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Corgenix Medical Corporation (OTCBB: CONX), a worldwide developer and marketer of diagnostic test kits, has received notification of European Patent Office (EPO) approval for technology to which Corgenix holds exclusive worldwide licensing rights.

McMaster University (McMaster) of Hamilton, Ontario, is the owner of the patent covering the aspirin resistance measurement method. Corgenix has licensed this technology from McMaster and is presently developing products to capitalize on the European protected technology. The patented technology is also related to Corgenix' AspirinWorks® test kit, which received FDA clearance in 2007.

The EPO patent approval covers the ability to assess a patient's resistance to the anti-clotting effects of aspirin and also to assess the risk of a cardiovascular event (heart attack or stroke) in patients taking aspirin.

"The EPO approval validates the strength of our strategic partnerships and demonstrates that we have built a solid foundation on which Corgenix can meet global demand for the testing of aspirin effect," said Douglass Simpson, Corgenix President and Chief Executive Officer.

The AspirinWorks test is an enzyme-linked immunoassay (ELISA) to determine levels of 11-Dehydro Thromboxane B2 (11dhTxB2) in human urine, which aids in the qualitative detection of aspirin effect. The test targets a potential global market exceeding 200 million individuals.

In addition to the new EPO patent, the McMaster technology includes one patent issued in the United States and several patents pending in the United States and Canada. Corgenix also has a patent application pending in the U.S. that covers various aspects of the AspirinWorks product.

The EPO provides a uniform application procedure for individual inventors and companies seeking patent protection in up to 38 European countries. It is the executive arm of the European Patent Organization and is supervised by the Administrative Council.

About Corgenix Medical Corporation

Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network.

Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe," "estimate," "project," "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

Corgenix Medical Corporation

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