Contact Information: Contact : Zackary Irani Tel: 949-645-2111
Biomerica Purchases the Technology, Know-How and Manufacturing Rights for 7 New Gastrointestinal Enteric Tests
| Source: Biomerica
IRVINE, CA--(Marketwire - January 12, 2010) - Biomerica, Inc. (OTCBB : BMRA ) announced that it
has purchased the technology, know-how and manufacturing rights for seven
new gastrointestinal enteric disease tests from an undisclosed Company.
The seven new tests detect certain parasites or bacteria in stool samples
including: Parasites of Cryptosporidium, E. histolytica, and Giardia;
bacteria E. Coli 0157 and Campylobacter; and bacteria-produced toxins
Verotoxin and Clostridium difficile A/B. Symptoms of enteric diseases may
include diarrhea, fever, abdominal pain, dehydration, and even death, if
not treated properly. Treatment varies, depending on cause and severity of
the disease.
Enteric infections enter the body through the mouth and intestinal tract,
and are usually spread by contaminated food, water, or contact with
contaminated feces. It has been estimated by the Centers for Disease
Control that 76,000,000 cases of foodborne illness occur every year in the
United States, with over 5000 associated deaths. The highest death rates
occur in the elderly and in infants. Worldwide, CDC estimates that over
two million deaths in young children occur every year from diarrheal
illness caused by contaminated food and water. The World Health
Organization has data indicating that diarrheal diseases account for 15 to
34 percent of all deaths in certain developing countries, with the overall
death toll between 4 million and 6 million annually, occurring primarily in
pre-school children, the elderly, and the immunocompromised.
"With relatively few competitors and high gross margins, we are excited to
be expanding our gastrointestinal test line to include these new enteric
disease tests," said Zackary Irani, CEO of Biomerica.
The Company is currently transferring the production of these products to
Biomerica's new facilities and estimates that the transfer will be
completed during the first six to eight months of 2010. These products
will initially be sold internationally and in the U.S. only after FDA
clearance. The terms of the transaction were not disclosed.
About Biomerica (OTCBB : BMRA )
Biomerica, Inc. (www.biomerica.com) is a global medical technology company,
based in Irvine, CA. The Company manufactures and markets advanced
diagnostic products used at home, in hospitals, and in physicians' offices
for the early detection of medical conditions and diseases.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in
this press release (as well as information included in oral statements or
other written statements made or to be made by Biomerica) contains
statements that are forward-looking; such as statements relating to
intended launch dates, sales potential, significant benefits, market size,
growth of business, favorable positions, expansion, expected orders,
leading market positions, anticipated future revenues or production volume
of the Company, success of product and new product offerings. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future, and
accordingly, such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of Biomerica. The potential
risks and uncertainties include, among others, fluctuations in the
Company's operating results due to its business model and expansion plans,
downturns in international and or national economies, the Company's ability
to raise additional capital, the competitive environment in which the
Company will be competing, and the Company's dependence on strategic
relationships. The Company is under no obligation to update any
forward-looking statements after the date of this release.