Magnetic Detection | Chinese Stem Cell Research | Genetic Engineering

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. Our revolutionary diagnostics system and test kit testing technology for HIV, Hepatitis, H-Pylori, HPV, Tuberculosis and many other viruses, bacterium's, toxins and diseases focuses on real-time testing for the actual presence of the virus/ toxin/ disease itself, and not for antibodies produced by the body's immune system which may take anywhere from weeks to months to appear. This allows for much earlier detection and treatment, as well as delivering the test at a fraction of current costs.

The company is positioning itself to perform clinical trials in Mexico, Thailand, India and China in the first/second quarter of 2009 followed by trials in the US and Europe. Biomagnetics hopes to have products in use in China by late 2009/ early 2010, followed by US and European sales sometime in 2011, pending successful financing and approvals.

Biomagnetics (OTC BMGP) intends to follow the lead of established Western drugmakers and biotechs Merck & Co. (MRK), Wyeth (WYE), Eli Lilly & Co. (LLY), Schering-Plough (SGP), Novartis (NVS), Sanofi-Aventis (SNY), Genentech (DNA), Bristol Meyers Squibb (BMYS) and many others that are ramping up investments in China, India and Singapore. The company is currently exploring opportunities within the international stem cell/ genetic engineering/ biotechnical industry, and is working to establish a separate Chinese operating company that it intends to apply for listing on the Shenzhen or Hong Kong stock exchange.

Business Development/ Licensing/ Technology Partnerships

Dr. Hai Shiene Chen, President and CEO of ACGT DNA Technologies Corporation, a leader in Canada's DNA industry with extensive ties to China. Dr. Chen and ACGT are currently consulting on behalf of Biomagnetics in regards to the use of various aspects of the company's products and technology within mainland China's healthcare and food industry. They are also assisting Biomagnetics with qualifying for the Chinese government's incubator program to foster development of a first class biotechnology industrial complex on mainland China, an important aspect of Biomagnetics' international development strategy.

Additionally, Biomagnetics is currently pursuing other private and public entity based developmental partnerships pertaining to the company's core technology and infrastructure, including applications within the stem cell and genetic engineering industries. We will consider and evaluate global and regional partnership opportunities that enhance the value of our programs through a combination of complementary products, technologies and expertise, financial commitment, large-scale clinical trial management expertise, and commercial capabilities.

Watch this space for updates concerning new technology partners and professional affiliations.