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Posted: Feb 05, 2011
CardioGenics to Continue Commercialization of its Magnetic Beads With Merck Chimie SAS
(Nanowerk News) CardioGenics Holdings Inc. announced today that CardioGenics and Merck Chimie SAS
continue the commercialization process of CardioGenics' magnetic beads. Merck recently
notified CardioGenics that while it is refining its encapsulation of the CardioGenics
beads, it will also test a batch of magnetic beads coated with CardioGenics' proprietary
silver-coating and polymer encapsulation processes (the "CardioGenics Encapsulated
Beads") with the aim of commercializing the CardioGenics Encapsulated Beads while
Merck Chimie is finalizing its owns proprietary encapsulation of the CardioGenics beads.
CardioGenics also announced that it is accelerating its commercialization efforts for its
magnetic beads and as a result, the Company has signed two significant Material Transfer
Agreements ("MTA") with 2 major international life sciences companies. Under the first
MTA with one of the top 3 beads production and distribution companies, CardioGenics
will furnish them with its silver-coated magnetic beads for polymer coating by the
distributor. In addition, the distributor will provide CardioGenics with their magnetized
bead prototypes, which CardioGenics will then silver-coat with its proprietary silver-
Under the second MTA with one of the top IVD companies, CardioGenics will furnish
them with its silver-coated and polymer encapsulated magnetic beads for subsequent
testing and evaluation in their various test products.
Magnetic beads are a key component of virtually every immunoassay analyzer in the
world. CardioGenics' proprietary silver-coating technology enhances the signaling
properties of magnetic beads, resulting in an increased sensitivity of immunoassay
analyzers by up to seven fold. This can allow for more sophisticated data collection from
patient samples being analyzed for the presence and progression of a disease– with no
change to existing hardware or instrumentation. In addition to being used on
CardioGenics' own beads, CardioGenics' proprietary silver coating can also be used on
third-party magnetic beads to enhance their sensitivity.
Upon completion of the testing process, CardioGenics and the distributors will evaluate
the test results and determine whether to further pursue commercialization of the
resulting products. The Biosciences magnetic beads market is estimated to be in excess of
$1.2 billion worldwide.
About CardioGenics Holdings Inc.
Through its operating subsidiaries, the Company develops ultra-sensitive analyzers and
other products targeting the immunoassay segment of the Point-Of-Care IVD testing
market. It has developed the QL Care™ Analyzer, a proprietary and ultra-sensitive Point-
Of-Care immuno-analyzer, which will run a number of diagnostic tests under
development, the first of which will be a series of cardiovascular diagnostic tests. As part
of its core proprietary technology, the Company has also developed a proprietary method
for silver coating paramagnetic microspheres (a fundamental platform component of
immunoassay equipment), which improve instrument sensitivity to light. The Company's
principal offices are located in Mississauga, Ontario, Canada. For more information
please visit www.cardiogenics.com.