The new family of patent granted by USPTO strengthens BioMark's global intellectual property position in liquid biopsy and early cancer detection
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2023) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark") an advanced stage liquid biopsy company with a focus on hard to detect and treat cancers is pleased to announce today that the U.S. Patent and Trademark Office (USPTO) has issued U.S. Patent No. 11,656,229 which was filed as a provisional on June 26, 2015 and titled Method of Detecting Lung Cancer. The issued patent belongs to a larger family of patents on the Company's biomarker panel for detecting lung cancer, and complements similar patents already approved in Japan and Canada and pending in Europe, and China.
"This is a pivotal moment for BioMark, and the timing is well synchronized with our planned commercialization of our early lung cancer screening assay slated for introduction in North America later this fiscal year," said Rashid Bux CEO and President of BioMark. Screening helps to detect cancer at an early stage, which can improve the long-term survival rate. There is an urgency to improve screening, affordability and accessibility globally. As a result, the global lung cancer screening market is expected to grow from approximately $2.0 billion in 2021 to over $4.0 billion by 2029. Mr. Bux adds, "Our pursuit in innovative molecular diagnostic assay development backed by proven science is yielding immense latent value the intangible portion of our balance sheet. BioMark is well positioned to add additional patents to help address one of the most significant unmet needs in early cancer detection."
Cancer remains one of the leading causes of deaths in the world and the prevalence of the disease has been increasing. The growing awareness of lung cancer and an increasing government initiative regarding screening, early detection and management of lung cancer are anticipated to drive the global cancer diagnostics market in the upcoming years. Another key driver is the growing demand for liquid biopsy tests. BioMark's extensive portfolio of patents covering key products in this market creates shareholder value by giving the Company both the freedom to operate and significant product differentiation.
About BioMark Diagnostics Inc.
BioMark is a liquid biopsy company developing a molecular diagnostics technology platform that leverages the power of metabolomics and machine learning algorithms to bring new cancer diagnostics to market and improving cancer prognosis by allowing physicians to detect carcinomas in the pre-symptomatic stages. The technology can also be used for measuring response to treatment and potentially for serial monitoring of cancer survivors. While the Company current focus is on the commercialization of its liquid biopsy test for early detection of lung, it has plan to expand into other hard to detect and treat cancers such as brain, ovarian and pancreatic.
For further information on BioMark, please Contact:
Rashid Ahmed Bux, President & CEO
BioMark Diagnostics Inc.
Tel. 604-370-0779, Email: email@example.com
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.
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