CerMed International Inc.
CerMed International Inc.: CerMed International Acquires Viridis Bioscience
CerMed International Inc. / Key word(s): Acquisition/Mergers & Acquisitions
CONTACT CerMed International Acquires Viridis Bioscience Monterey, CA – May 25, 2011 – CerMed International, Inc. based in Monterey, CA announces the acquisition of Viridis Bioscience of Essex Junction, VT along with existing licensing agreements related to the development of an electrode-based point of care (POC) system for rapid detection of infectious disease Viridis's licensing agreement covers the adaptation of a non-optical, high-density electrode array for POC detection of specific carbohydrates, drugs, drug metabolites, lipids and proteins indicative of infectious disease or specific medical conditions. Viridis' licensed platform provides CerMed with a disposable, compact, portable microelectrode array with improved sensitivity and specificity for protein-based detection relative to lateral flow, or optical-based immunological platforms. CerMed intends to apply the platform in low cost, highly sensitive POC assays for detection of infectious agents and diseases related to women's health, in particular reproductive health. CerMed will market the platform as a means to rapidly screen women for cervical neoplasia, initially in areas underserved by current medical practice. The majority of new cases of cervical cancer resulting from infection with the human papillomavirus (HPV) occur in underdeveloped countries, due primarily to a lack of infrastructure, personnel, and the high costs associated with screening women using PAP smears, the current industry standard. The portability, improved sensitivity, and rapid function of the new platform will allow CerMed to reach the areas of greatest need, improving the delivery of health care to women worldwide at significantly reduced cost and time compared with typical screening methods. CerMed's platform will be the first of its kind to offer a rapid means to screen for both the presence of HPV as well as the status of neoplasia, an advantage over both PAP smear and nucleic acid based screening, providing improved marketing and delivery options for healthcare. About CerMed International CerMed International, Inc. is an emerging global medical device company that develops products and systems that help improve the health of women worldwide. These lower cost products will aid in reducing the risk of female reproductive diseases. They will enable women's health initiatives to be brought to the underserved regions of the world and empower women to personally take steps to reduce the risk of HIV and other STD's.
For information: http://www.cermedint.com End of Corporate News 25.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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