ChroMedX manufacturing HemoPalm biosensor part in lab
2017-12-01 16:25 ET - News Release
Mr. Gerard Edwards reports
CHROMEDX ANNOUNCES IN-HOUSE BIOSENSOR MANUFACTURING FOR EXPEDITED TESTING AND REFINEMENT; APPOINTS EDWARDS AS EXECUTIVE CHAIRMAN
ChroMedX Corp. is now in the process of mass manufacturing the HemoPalm's biosensor component at the ChroMedX lab in Ontario, Canada. The company also announces the appointment of Gerard Edwards as executive chairman and George Langdon as corporate communications director.
In August of this year, ChroMedX announced the construction of a new lab and the relocation of corporate headquarters and development activities, apart from the manufacturing of the HemoPalm's biosensor component. Since that time, ChroMedX has continued to manufacture the sensors at the McMaster University biointerface facility and has worked with a number of specialized manufacturing firms to find a partner to expedite the biosensor development process for testing and commercial manufacturing.
ChroMedX is very pleased to announce that following an extensive vetting process, the company has collaborated with manufacturing and dispensing specialist BioDot Inc. of Irvine, Calif., to custom modify a dispensing platform to produce the sensors in-house, greatly accelerating the manufacturing, development and testing of the biosensor component.
"This is a major turning point for HemoPalm development, and the biosensor is now on the critical path. Our results with McMaster were positive, but the manufacturing of the sensors greatly slowed the process. Our collaboration with BioDot has put us on the fast track, and the sensors developed with them have exceeded our expectations," said Ash Kaushal, president and chief executive officer, ChroMedX.
Using the modified dispensing equipment, the company has manufactured biosensors that have demonstrated remarkable performance in terms of accuracy, stability and reproducibility of measurement. In addition, ChroMedX has eliminated an electrolyte layer that current devices have and has also simplified the reference half-electrode. These improvements will result in a decrease in manufacturing cost and a longer cartridge shelf life.
The modified platform also provides positional accuracy and high-speed aspirating and dispensing, for manufacturing the biosensors. The company is now in the process of optimizing the deposition technique, using sophisticated microscopic image technology to minimize defects in the ion-selective membrane.
Other business
The company is also pleased to report on new appointments. Current director Mr. Edwards has been appointed executive chairman of the ChroMedX and director Mr. Langdon as corporate communications director.
"As a founding director of ChroMedX, I have always been enthusiastic about its potential to disrupt this industry. It is a rare opportunity to take part in a successful business and advance the standard of health care for those in critical need. I am honoured with this appointment and look forward to playing my role in the advancement of this technology," said Mr. Edwards, executive chairman, ChroMedX.
Mr. Edwards holds an undergraduate degree in commerce and a master of business administration with a focus in finance. Mr. Edwards has 30 years of independent business experience as a serial entrepreneur and venture capitalist. He has developed companies in the technology sector, oil and gas exploration/development, and real estate development. He was recently appointed as lead negotiator of the ChroMedX, DxEconomix Inc. merger-and-acquisition transaction.
Recent news
ChroMedX recently announced the signing of a letter of intent with diagnostic marketing expert DxEconomix to conduct a potential high-value transaction for the company. The company and DxEconomix are now working toward a definitive agreement within 60 days of the LOI signing. Further information can be found on the company's website.
About ChroMedX Corp.
ChroMedX is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the company's issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.
The global market for blood gases and electrolytes was estimated to be $1.5-billion (U.S.) in 2015 and is projected to reach over $1.8-billion (U.S.) by 2020.
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