New family of patent granted by Japanese Patent Office enhances BioMark's global intellectual property position in lung cancer detection using urine as a convenient biological sample medium.
Vancouver, British Columbia--(Newsfile Corp. - August 8, 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 that the Japan Patent Office (JPO) has issued Divisional Patent Application N° 7311659 titled "Methods of detecting lung cancer" using urine biomarkers. The issued patent belongs to a larger family of patents on the Company's biomarker panel for detecting lung cancer.
"We are excited to expand our patent portfolio by offering clinicians and patients another more convenient and non-invasive option to detect lung cancer using novel and urine-based biomarkers. This robust panel of biomarkers demonstrates the company's technological capabilities in accelerating translational science in the dynamic field of metabolomics. Over the years, the company has successfully developed highly sensitive assays using saliva, plasma, and urine mediums. In Japan approximately 125K new cases of lung cancer are reported annually," said Rashid Bux, CEO and President of BioMark. He further adds, "BioMark is proud to expand its patent assets in its cancer diagnostic portfolio. We anticipate more announcements in the upcoming quarters related to our patent status."
According to the Market Data Forecast report, the cancer diagnostic market in Asia Pacific is valued at $30B USD in 2022 and is expected to grow at a CAGR of 9.1% reaching $47B by 2027 driven by higher chronic cancer cases and increasing demand for minimally invasive tests. BioMark's patent estate creates shareholder value by giving the Company an opportunity to tap into this vast cancer diagnostic market.
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's current focus is on the commercialization of its liquid biopsy test for early detection of lung, it has plans 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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