ChroMedX Completes HemoPalm System Prototype
Toronto, Ontario--(Newsfile Corp. - May 19, 2017) - ChroMedX Corp. (CSE: CHX) (OTCQB: MNLIF) (FSE: EIY2) (the "Company"), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce the completion of a HemoPalm handheld analyzer and cartridge system prototype.
The HemoPalm system prototype has been developed as a collaborative effort led by ChroMedX CEO & President Ash Kaushal with key contributors internationally. The prototype system demonstrates portability and in-field handheld analysis capabilities.
"I am proud to announce this accomplishment and would like to congratulate our team and advisors on an extraordinary job. This prototype represents the significant success we have had in developing technology from a pending patent to a patented handheld system," said Ash Kaushal, President & CEO, ChroMedX Corp.
ChroMedX Corp. commenced development of the HemoPalm system concurrently with the Company’s formation as a publicly-traded entity in 2014. The intellectual property was written by ChroMedX founder and Director James Samsoondar in order to address the need for a handheld device that offers combined blood gases, electrolyte, CO-oximetry and bilirubin analysis of blood in a single/disposable cartridge for hospital and infield applications. The technology addresses a projected 1.8 billion USD industry by 2020.
“Our dedication to the advancement of POCT healthcare is unwavering and this milestone marks the culmination of a great deal of dedication and perseverance. Research and development always presents a fair share of challenges in the early stages and it is the people behind the development that makes the difference. I commend the ChroMedX development team and the leadership of Ash Kaushal, and his accomplishments in a short time as CEO. We are very excited to move into the next stage of development and play a role in the advancement of POCT healthcare.” said Dr. George Langdon, Chairman, ChroMedX Corp.
The assembly of the physical unit prototype includes the essential components of the HemoPalm system and a streamlined design. The current HemoPalm system design offers full CO-oximetry and bilirubin analysis capabilities and the cartridge design includes biosensors for pH, PO2, and PCO2 (blood gases) and Na+, K+, and Cl- (electrolytes) as well as two additional sensors for future analytes such as lactate and creatinine. Lactate assists in the detection of blood poisoning (sepsis) in life-threatening situations, and creatinine is the preferred analyte for assessing kidney function. Within this POCT system to date, the Company has demonstrated operational CO-oximetry and the initial stages of operational biosensors.
The completion of handheld prototype system is a key step in the progression towards a pre-production device and refinements in the design and functionality of the system will continue through the testing phase.
ChroMedX is now working towards organizing the manufacturability and reproducibility of cartridges using injection molding instead of machining. The molded cartridges will be used for testing, calibration and validation of the HemoPalm analyzer prototype. The Company is now focused on completing all functionality and testing/calibration for clinical trials in Q4 2017.
The HemoPalm Handheld Blood Analyzer System is protected by US Pat.Nos. 9,162,186 and 8,206,650, pending PCT/CA2017/050379 and other international issued & pending patents.
About ChroMedX Corp.
ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company’s issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.
The HemoPalm Handheld Blood Analyzer System is the only handheld blood analysis technology which combines Blood Gases & Electrolytes with full CO-oximetry. Currently this combination is not available on any of the handheld analyzers on the market. Existing technologies require users to purchase a second device to carry out the CO-oximetry. The Company’s technology has the advantage of being able to offer a single handheld blood analyzer that provides all the required tests for Blood Gases & Electrolytes, with full CO-oximetry and bilirubin. Another competitive advantage of the HemoPalm system will be its ability to draw capillary blood directly from a pin-prick site into the cartridge, providing an alternative to arterial blood. Drawing arterial blood is painful and can cause nerve damage. CO-oximetry is the measurement of five different hemoglobin species in blood.
The global market for Blood Gases & Electrolytes was estimated to be 1.5 Billion $US in 2015 and is projected to reach over 1.8 Billion by 2020.