Biomark Receives Funding Supporting Research and Development Project for Cancer Treatment Monitoring
Vancouver, British Columbia–(Newsfile Corp. – February 7, 2023) – BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) (“BioMark” or the “Company”), an advanced stage liquid biopsy company with a focus on hard to detect and treat cancers, is pleased to announce today that its Quebec-based subsidiary, BioMark Diagnostic Solutions Inc (“BDS”), is receiving advisory services and non-dilutive funding of up to CAD $185,900 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
BioMark intends to use this funding to support research and development of a quantitative assay to measure drug metabolites for cancer treatment monitoring. The project is leveraging the fully integrated BioMark’s metabolomic liquid biopsy platform to develop a safe, effective, and affordable drug biomarker test to assess and monitor response to therapy which could provide both clinician and patient with an accurate and easy way to perform relapse surveillance and therapeutic monitoring more effectively.
In addition to the support provided by NRC IRAP, BioMark is also receiving funding of CAD $13,275 from Global Affairs Canada (GAC) under the CanExport Innovation Program. The Program is administered by the Government of Canada’s Trade Commissioner Service and delivered collaboratively with NRC IRAP to promote and enhance Canada’s international innovation efforts by providing direct financial assistance to the most innovative companies to pursue international opportunities that could lead to the establishment of new collaborative Research and Development (R&D) partnerships with key players in foreign markets.
“We are focused on building out our portfolio of assays for early cancer detection and treatment management while maintaining our commitment to continual improvement of our products,” stated Rashid Bux, CEO of BioMark. Mr. Bux continued, “As a result of this support from the Government of Canada, the company will be well-positioned to commercialize an innovative and integrated cancer management platform. Our platform has universal appeal and we have interested international parties who are willing to engage with the Company. We are delighted and extremely grateful to have this financial support to expand our global R&D collaboration with leading institutions that are evaluating BioMark’s early lung cancer detection assay as we are rapidly proceeding into commercialization phase in North America.”
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 stage. 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.
Further information about BioMark is available under its profile on the SEDAR website www.sedar.com and on the CSE website https://thecse.com/.
For further information on BioMark, please Contact:
Rashid Ahmed Bux, President & CEO
BioMark Diagnostics Inc.
Tel. 604-370-0779, Email: [email protected]
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.
The CSE has not reviewed, approved, or disapproved the content of this press release.
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