QuantRx Presents at the International Association for Dental Research Conference and International Society for Breath and Odor Research Conference
DOYLESTOWN, PA – May 4, 2009 – QuantRx® Biomedical Corporation (OTCBB:QTXB), a diagnostics company focused on the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide point-of-care healthcare industry, today announced that, in conjunction with its strategic partner, ALT BioScience, QuantRx' Senior Scientist, Dr. Tony Burgess-Cassler, presented his work on developing a new method for the rapid detection of oral disease at the 2009 International Association for Dental Research (IADR) Conference in Miami, Florida. The conference, held in early April, represented the most significant international dental research conference, attracting over 6,000 participants and showcasing the latest breakthroughs in dental research and technology. The presentation was also made at the April International Society for Breath and Odor Research (ISBOR) Conference held in Dortmund, Germany.
The first QuantRx-developed product ALT plans for release will be a consumer ‘quick-check’ for detection of compounds causing halitosis. Introduction of this product into the marketplace is anticipated in late 2009 or early 2010. Also planned is a professional dental product designed to augment current clinical diagnostic methods of determining periodontal health. ALT sponsored research, performed at Temple University employing QuantRx-produced prototypes, which was presented at IADR as well.
The need for novel diagnostic tools in the fight against oral diseases is vital; available treatments are quite effective in treating diseases in the early-stage, ultimately reducing overall health-care costs. U.S. dental industry revenues nearing $100 billion annually are expected to grow 6-7% per year. U.S. sales of dental equipment alone are expected to increase by 4% per year and exceed $8 billion by year-end 2011.
Leslie J. Herzog, President and Chief Executive Officer of ALT BioScience, stated, “So many studies point to links between oral health and general systemic health. By offering the public and the professional community rapid and easy-to-use oral health screens, we hope in turn to help facilitate improvements in general health. The presentations made at IADR and ISBOR are the harbingers of our upcoming products – the first fruits of the development work we’ve undertaken with QuantRx. QuantRx has not only helped us transform and build upon our intellectual property, but will also be our manufacturing partner, as we go forward on a number of fronts.”
Dr. William Fleming, QuantRx’ Chief Scientific Officer and President of Diagnostics, added, “By being innovative as well as methodical and thorough, our design and development efforts are nearing a point QuantRx and ALT have anticipated since our 2008 joint agreement. The synergy of the QuantRx corporate quality system, our collective experience at getting in vitro diagnostics with demonstrable diagnostic value into the marketplace, and our consistent attention to the details of our ALT-related projects will soon yield products we can both be quite proud of.”
About QuantRx Biomedical (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB: QTXB) is a broad-based diagnostics company focused on the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide healthcare industry. With synergistic expertise in the discovery of diagnostic platforms and the commercialization of products for use by healthcare professionals and consumers, QuantRx is focused on providing more accurate, reliable, and faster diagnoses that result in improved patient care.
The QuantRx strategy targets significant market opportunities estimated to be in excess of $5 billion worldwide. The Company's technology portfolio, with more than three dozen patents, patents pending and licensed patents, includes: (1) RapidSense® point-of-care testing products based on QuantRx core intellectual property related to lateral flow techniques for the consumer and healthcare professional markets; (2) PAD technology for over-the-counter applications, and the diagnosis and treatment of women's health concerns and other medical needs. As well as significant investments in: (a) genome-based diagnostic chips for the laboratory and healthcare professional markets; and (b) molecular imaging agents for positron emission tomography (PET) and fluorescence imaging, with initial application in cardiovascular disease, addressing significant unmet medical needs by providing clinicians with important tools for early discovery and assessment.
About ALT BioScience (www.altbioscience.com)
ALT BioScience, LLC is a specialty bioscience company that discovers, develops, and commercializes diagnostic and biomedical technologies focused on oral-systemic health, neurodegenerative diseases and nucleotide photoaffinity labeling for basic protein research. The basic foundation of the company, via its photoaffinity technologies, supplies research tools for nearly 300 research, biotech and pharmaceutical companies worldwide, and allows for the identification of enzyme-protein differences in diseases such as Alzheimer's, ALS, and cancer. Founded in 1997, ALT BioScience, LLC, is a privately held company located in Lexington, Kentucky.
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, the Company’s need for additional funds, 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.
Dr. William Fleming
CSO & President of Diagnostics
QuantRx Biomedical Corporation