QuantRX Biomedical Corporation Announces Distribution Agreement With Synova Healthcare
PHILADELPHIA, PA -- (MARKET WIRE) -- December 13, 2005 -- QuantRX Biomedical Corporation (formerly know as A-Fem Medical Corporation) is pleased to announce that it has entered into a five year OEM supply agreement with Synova Healthcare Group, Inc. to supply products utilizing the Company's state-of-the-art Rapid Sense® technology for Synova's developing female reproductive health product line.
"Synova specializes in the distribution of non-invasive medical diagnostics to both the OTC and POC market segments," said Walter Witoshkin, president and CEO of QuantRX Biomedical Corporation. "This agreement reflects a continuation of our strategy to supply our cutting-edge medical technology and quality manufacturing to the 'point of care' diagnostics market."
QuantRX specializes in developing and manufacturing a wide range of proprietary platforms including:
-- Rapid Sense®, a point-of-care in vitro diagnostic technology and
positive lateral flow test. This technology can be used for a range of
applications, from pregnancy tests to drug screens.
-- inSync® and Unique® Miniform, a patented, disposable, over-the-
counter technology with applications in the incontinence and hemorrhoidal
OTC markets. The Miniform also has potential applications as an innovative
drug delivery system.
-- PadKit®, a diagnostic sample collection system using miniform
technology. This product allows patients to self-collect a sample for
diagnostic or drug testing in the privacy of their own home and mail to a
laboratory for analysis.
"We look forward to continuing our commitment to our customers and shareholders, by delivering leading edge products to both the retail and point-of-care marketplace through collaboration with valued R&D partners such as QuantRX," said Stephen King, CEO of Synova. "We believe the future looks very exciting for both Synova and QuantRX, and we look forward to ongoing collaboration between our companies."
ABOUT QUANTRX BIOMEDICAL CORPORATION
Originally founded in 1987 as Xtramedics, QuantRX Biomedical Corporation is a leading biomedical research, development and manufacturing company with corporate offices in Ambler, Pennsylvania. The firm specializes in creating innovative medical technology platforms and products for diagnosis and treatment of a wide range of medical needs.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. There can be no assurance that such factors will not affect the accuracy of such forward-looking statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information set forth in this Press Release including such forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy; nor will there be any sale of securities of QuantRX Biomedical Corporation in any state where such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of those states.