QuantRx Biomedical Announces Material Relationship with Taiwan-Based Manufacturing Firm
DOYLESTOWN, PA – September 4, 2007 -- QuantRx® Biomedical Corporation (OTCBB: QTXB), an emerging leader in the research and development of medical diagnostic platforms and products, is pleased to announce it has entered into a long-term agreement with Kang Na Hsiung (KNH) of Taiwan, covering the process development, manufacturing, and packaging of its PAD-based product line.
KNH is a respected manufacturing firm currently producing products under FDA cGMP controls whose client list includes Procter & Gamble and a number of other major consumer product companies. KNH has been dedicated to improving the quality of life and to protecting the environment since they were founded in 1969. Committed to quality products, superior service, and consistent innovation, KNH is making advances in the fields of personal care, hygiene, skin care, and industrial specialty products.
This important milestone allows QuantRx to rapidly scale the production of its PAD technology products to meet anticipated demand and expanding market reach. This agreement extends to include both its feminine hygiene products and its hemorrhoid products which Synova Healthcare Group plans to introduce to the U.S. market within the next few months. It also enables QuantRx to seek marketing and distribution agreements with companies in Europe and Asia, and comfortably meet any additional demand.
“KNH has worked closely with us to assure the product produced is of a quality that will meet global consumer standards,” said Dr. Bill Fleming, Chief Scientific Officer of QuantRx. “Their support and expertise has been valuable in assuring quality products for our pending launches.”
QuantRx anticipates the sale and distribution of its line of both hemorrhoid and feminine hygiene PAD products will have a positive impact on its revenue in 2008 and beyond.
About QuantRx Biomedical (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB: QTXB) is an emerging leader in the development of products for advanced diagnosis of serious disease and health conditions. With synergistic expertise in the discovery of diagnostic platforms and the commercialization of products for use by either medical professionals or consumers, QuantRx is focused on providing more accurate, reliable and faster diagnoses that result in improved patient care.
The QuantRx strategy is one of sustained growth and targets significant market opportunities estimated to be in excess of $4 billion worldwide. The Company's technology portfolio, with more than two dozen patents, patents pending and licenses, includes RapidSense® point-of-care testing products based on QuantRx core intellectual property related to lateral flow techniques that rapidly provide medical information directly to the healthcare provider or patient. QuantRx affiliate FluoroPharma is developing important molecular imaging agents for positron emission tomography (PET) and fluorescence imaging, and addressing significant unmet medical needs by providing clinicians with important tools for early discovery and assessment of disease; Initial application is in the treatment of cardiovascular disease. Other QuantRx technology platforms are genome-based diagnostic chips for the laboratory-based diagnostic market, and PAD technology for diagnosis and treatment of women's health concerns and other medical needs.
QuantRx has corporate offices in Doylestown, Pennsylvania, and its research and development center in Portland, Oregon. The Company holds a majority position in FluoroPharma, Inc., a Boston-based molecular imaging company, and a significant position in Genomics USA, Inc., a Chicago-based developer of microarray technology for DNA testing.
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management's current expectations, management's current plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict including; general economic conditions, QuantRx' need for additional funds, the Company's dependence on a limited number of imaging compounds, the early state of the products the Company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the Company's ability to avoid infringement of the patent rights of others, and the Company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. QuantRx does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Adam P. Lowensteiner (Investors)
Alisa D. Steinberg (Media)
Wolfe Axelrod Weinberger Assoc. LLC
(212) 370-4500; (212) 370-4505 (Fax)