QuantRx Debuts Flagship Diagnostic Reader Device (Q-Reader™) at MEDICA 2009, the World’s Leading Medical Trade Fair
Company Schedules Annual Shareholder Meeting for December 3, 2009
DOYLESTOWN, PA – November 6, 2009 – QuantRx® Biomedical Corporation (OTCBB: QTXB), a broad-based diagnostic company focused on the development and commercialization of innovative diagnostic products, today announced that the Company will demonstrate its latest technology at MEDICA 2009, the world's leading medical trade fair, to be held November 18-21, 2009, in Düsseldorf, Germany. The trade show will be host to a milestone event for QuantRx as the point-of-care (POC) medical device pioneer will introduce for the first time its flagship diagnostic reader device, Q-Reader™.
QuantRx has been developing a platform of POC devices to facilitate diagnosis of critical metabolic markers, such as those associated with thyroid disease, malignant cancers, therapeutic drugs and other medically relevant conditions, as part of its QN Diagnostics initiative This unique platform technology, which combines the incredible sensitivity of our RapidSense® technology with the ultra-portable Q-Reader, enables the use of any biological sample, such as blood, urine, vaginal fluids, or saliva, to deliver laboratory results to the primary care provider in minutes.
“MEDICA 2009 sets the stage for the debut of an extraordinary new point-of-care system that is capable of significantly improving medical diagnostic procedures while potentially lowering healthcare costs,” said Walter Witoshkin, QuantRx Chairman and Chief Executive Officer. “Our products are intended to provide front-line information needed by healthcare professionals to aid timely diagnosis for earlier intervention and immediate treatment, which can limit the spread of the disease within the patient, while providing greater patient convenience.”
Dr. William H. Fleming, QuantRx Chief Scientific Officer, noted: “While we have had success with our positive/negative point-of-care tests, the combination of our existing RapidSense technology with our new reader presents for the first time the opportunity to quickly and cost effectively provide results to the healthcare practitioner that were previously limited to clinical laboratory testing. Based on the high level of interest that international distributors have expressed about our Q-Reader platform, we are preparing for an incredibly successful MEDICA 2009.”
As the world’s largest medical trade fair accompanied by a congress, this year’s MEDICA will offer a comprehensive overview of a wide variety of innovations in the world of medicine, including the latest developments in healthcare diagnostic technology. Nearly 136,000 healthcare and related constituents participated in MEDICA 2008, with nearly half of the attendants visiting from outside of Europe.
MEDICA 2009 takes place from November 18-21, 2009, from 9:00 a.m. – 5:30 p.m. each day, at the congress centers CCD South, CCD Pavilion and CCD East in Düsseldorf. For information on MEDICA 2009 and to download the program for the MEDICA Congress 2009, visit: http://www.medica.de.
Separately, the Company also announced today that it will hold its 2009 Annual General Meeting of Shareholders (AGM) on Thursday, December 3, 2009, at 10:00 a.m. local time, at Multnomah Athletic Club located at 1849 SW Salmon Street, Portland, Oregon 97205. Shareholders of record at the close of business on October 30, 2009 will receive copies of the meeting notice and proxy materials.
About QuantRx Biomedical
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® and Q-Reader™ point-of-care testing products based on QuantRx core intellectual property related to lateral flow techniques for the consumer and healthcare professional markets (QN Diagnostics); (2) PAD technology for over-the-counter applications, and the diagnosis and treatment of women's health concerns and other medical needs, and (3) 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.
Additional information on QuantRx is available at www.quantrx.com.
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Forward Looking Statements Disclaimer for QuantRx Biomedical Corporation: 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.
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Investor Relations Contact:
Jordan M. Darrow
Darrow Associates, Inc.