You are here
Medline and Biomerica sign agreement for distribution of Biomerica’s colorectal screening test to help identify an early warning sign of colorectal cancer
IRVINE, Calif., Nov. 28, 2018 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA) announced that is has signed a three year agreement with Medline Industries for the distribution of Biomerica’s EZ Detect™ colorectal disease screening test designed to help identify an early warning sign of colorectal cancer.
The EZ Detect colorectal screening test is the simplest at home test to detect fecal occult (hidden) blood, an early warning sign of colorectal cancer. The test does not require handling of stool or dietary restrictions. The EZ Detect pad is tossed into the toilet after a bowel movement. A change in the pad’s color to blue/green, which would appear within two minutes, indicates the presence of blood in the stool. The pad is then simply flushed.
With over 18,000 employees worldwide, 1,600 direct sales reps and $10.2 billion in sales, Medline Industries is ranked 32 on the Forbes list of largest private companies. Medline is the largest privately held manufacturer and distributor of medical supplies uniquely positioned to provide products, education and support across the continuum of care (from large healthcare systems and independent physician practices to home health patients and their families).
Colorectal cancer is the third leading cause of cancer-related deaths in men and women in the United States. It's expected to cause about 50,630 deaths during 20181. There were an estimated 1,332,085 people living with colorectal cancer in the United States in 20152.
1 American Cancer Society
2 National Cancer Institute
About Biomerica (NASDAQ: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica primarily focuses on products for Gastrointestinal Disease, Diabetes and esoteric testing.
The Biomerica InFoods® IBS product is designed to allow physicians to identify patient specific foods (e.g. eggs, broccoli, wheat, potatoes, corn, etc.), that when removed, may alleviate or improve an individual's IBS symptoms including but not limited to constipation, diarrhea, bloating, pain and indigestion. This patent-pending, diagnostic-guided therapy is designed to allow for a patient specific, guided dietary regimen to improve Irritable Bowel Syndrome (IBS) outcomes. The point-of-care product is being developed to allow physicians to perform the test in-office using a finger stick blood sample while a clinical lab version of the product will be the first for which the company will seek regulatory approval. A billable CPT code that can be used by both clinical labs and physicians' offices is available for InFoods® diagnostic products. Since the InFoods® product is a diagnostic-guided therapy, and not a drug, it has no drug type side effects.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, prospects, new products, favorable outlook, new distributors, expansion, increases in productivity and margins, expected orders, leading market positions, anticipated future sales or production volume of the Company, the launch or success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.
Zack Irani | CEO