Biomoda, Inc. To Collaborate in Clinical Study in Russia
Albuquerque, NM December 13, 2006 -- Biomoda, Inc. (OTCBB: BMOD) of Albuquerque, NM, maker of early lung cancer detection testing and other cancer diagnostic technology, announced today that it signed an agreement with Cureline, Inc., a multi-national medical sample acquisition company, www.cureline.com to collect and provide sputum samples for Biomoda's ongoing validation and development work.
Biomoda trades on NASDAQ's OTC Bulletin Board: ticker symbol “BMOD”.
Biomoda’s technology is based on a patented porphyrin application that preferentially binds to cancerous or aberrant cells extracted from lung sputum samples. Cancerous cells glow red under fluorescent light to allow detection under a microscope. The patented technology, a non-invasive cytology based assay, is designed for cancer screening of large populations at a reasonable cost. Current diagnostic methods for lung cancer, including CT scans and X-rays, often detect the disease only at more advanced stages and are relatively expensive.
Cureline, Inc. was founded in 2003 by a group of scientists and business development experts as a custom tissue procurement company with headquarters in South San Francisco, California. The company’s primary business is preclinical and clinical research management services with an emphasis on medical samples acquisition, biomarkers discovery and co-development of novel diagnostic tests in oncology.
“Biomoda has aligned itself with a dynamic partner that will help move our development work forward and can open up important markets for our diagnostic technology in Russia and Eastern Europe,” said John Cousins, President of Biomoda.
"We are excited about the prospects of working with Biomoda" said Dr. Olga Potapova, Cureline's President and Scientific Director. “Cureline's goal is to support development and commercialization activities, ultimately greatly improving the outcome for patients."
Lung cancer claims more lives than any other cancer. The expected 5-year survival rate for all patients combined in whom lung cancer is diagnosed is 15 percent and by contrast, the 5-year survival rate for cases detected when the disease is still localized is 50 percent. At the present time, only 16 percent of lung cancer cases are diagnosed at this early stage.
For additional information, visit the Biomoda web site at www.biomoda.com.
“Safe Harbor” Statement: This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from expectations contained herein. Biomoda is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.