Healthcare Industry News: aspirin
News Release - July 6, 2006
Corgenix Launches Diagnostic Test for Aspirin Effectiveness
aspirinWorks(R) Test Kit Now CE Marked for Sale in EuropeSubmission to FDA Imminent
DENVER--(HSMN NewsFeed)--July 6, 2006--Corgenix Medical Corporation (OTCBB: CONX ) has released for international sale its newest diagnostic product to be used in the fight against cardiovascular disease. The Company's aspirinWorks® Test Kit was launched at the 52nd Annual Scientific and Standardization Committee of the International Society on Thrombosis and Haemostasis, held June 28 through July 1, 2006, in Oslo, Norway.
The aspirinWorks® Test Kit is a quantitative laboratory test used to determine levels of 11-dehydrothromboxane B2 in human urine, which aids in the assessment of an individual's response to aspirin therapy. Recent reports indicate that up to 25% of the population may be non-responsive to aspirin's benefits, and less or non-responsive individuals may be as much as three times more likely to die from cardiovascular disease.
"The release of the first aspirinWorks® product is a major milestone for our Company," said Douglass Simpson, Corgenix President and CEO. "We have high expectations for this product and its contribution to the general practice of medicine. Interest worldwide is already strong, and we have ramped up our production to meet expected market demands."
The aspirinWorks® product was developed in conjunction with Corgenix's strategic partners, Creative Clinical Concepts (CCC), a Denver-based biotechnology company, and Cayman Chemical Company (Cayman), an Ann Arbor, Michigan-based manufacturer of biochemical research products. Corgenix and CCC have previously collaborated with McMaster University (McMaster) in Hamilton, Ontario. Under terms of a license agreement with McMaster, Corgenix and CCC have exclusive worldwide rights to the proprietary technology owned by McMaster for the development, manufacture and marketing of innovative diagnostic tests specific to the pathway by which aspirin acts on platelets.
The McMaster technology includes several patents pending in the United States, Canada and Europe, and has received notice of allowance of the first of the U.S. patent applications. In addition to licensing the McMaster technology, Corgenix also has a U.S. patent pending on the aspirinWorks® product.
The new aspirinWorks® product will be sold through Corgenix's established international distribution network and, as the product is not currently approved or cleared by the U.S. Food and Drug Administration (FDA), the Company intends to submit a Pre-Market Notification to the FDA within the next 10 days.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at www.corgenix.com.
Source: Corgenix Medical
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