QuantRx(R) Biomedical Corporation Announces Completion of Technology License Agreement
AMBLER, PA -- (MARKET WIRE) -- July 06, 2006 -- QuantRx® Biomedical Corporation (OTCBB: QTXB), announced the completion of a Worldwide Technology License Agreement with The Procter & Gamble Company (NYSE: PG).
Walter Witoshkin, President and CEO, stated, "We are pleased to be able to add this significant technology as an expansion to our world-wide intellectual property. With the addition of this key technology to the QuantRx® PAD portfolio of products we plan to enter the hemorrhoid treatment market with great confidence in our competitive advantages."
About QuantRx® Biomedical Corporation
QuantRx® Biomedical Corporation is a medical technology company with leading edge products targeting worldwide health needs. QuantRx® Biomedical Corporation has developed a broad spectrum of intellectual property targeted to its three proprietary business lines: the patented inSync® miniform Interlabial PAD (ILP), Rapid·Sense® technology, and the PADKit® Sample Collection System. QuantRx® Biomedical Corporation plans to license and market products via established distribution networks, initially targeting inSync® in the hemorrhoid pain and discomfort relief market. The Company's patented point-of-care Rapid·Sense® technology has been selectively licensed and is envisioned to support a strong point-of-care testing original equipment manufacturer business. The Company's patented PADKit®, which utilizes an inSync® pad as a non-invasive sample collection device is planned for use in screening for certain cancers and other diseases. The company also holds significant positions in FluorPharma, a molecular imaging company and GUSA, a Microarray Detection for DNA technology. QuantRx® Biomedical Corporation holds U.S. and foreign patents that grant it sole rights to all of its technology.
About Procter & Gamble (NYSE: PG)
Three billion times a day, P&G brands touch the lives of people around the world. The company has one of the strongest portfolios of trusted, quality, leadership brands, including Pampers®, Tide®, Ariel®, Always®, Whisper®, Pantene®, Mach3®. Bounty®, Dawn®, Pringles®, Folgers®, Charmin®, Downy®, Lenor®, Iams®, Crest®, Oral-B®, Actonel®, Duracell®, Olay®, Head & Shoulders®, Wella, Gillette®, and Braun. The P&G community consists of almost 140,000 employees working in over 80 countries worldwide. Please visit for the latest news and in-depth information about P&G and its brands.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" or statements which may be deemed or construed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause QuantRx® Biomedical Corporation's actual results, performance (finance or operating) or achievements to differ materially from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.