An OTCPicks.com Corporate Profile Biomagnetics Diagnostics Corp.
Company Overview
Biomagnetics Diagnostics Corporation has partnered with Los Alamos National Lab to develop, commercialize and market the world's first handheld Integrated Optical Biosensor (IOBS), a revolutionary diagnostic system for detecting some of the world’s most rampant diseases including HIV, hepatitis, tuberculosis and malaria.
IOBS are a relatively new classification of pathogen detection equipment that use advanced fiber optic-based technology to detect a wide variety of human and animal pathogens. These devices are specifically designed to be field deployable and ultraportable, allowing for the rapid detection of various viral and bacterial pathogens by relatively untrained personnel outside of the laboratory setting. Going forward, with the flexibility of the underlying technology, Biomagnetics will be able to adapt the IOBS to detect almost any pathogen in human or animal blood or other body fluids.
To date, Biomagnetics has successfully transitioned from a research stage entity to a developmental company and is positioning itself to perform clinical trials of its IOBS device in Mexico, Thailand, India and China during the third quarter of 2011 that will be followed by trials in the United States and Europe. Biomagnetics will continue to develop a strategic portfolio of patents for a diverse range of bacterial and viral assays for specific use with the Company’s revolutionary diagnostics systems.
Importantly, on November 27, 2009, Biomagnetics entered into a "Licensing Agreement" with world renowned Los Alamos National Laboratories (LANL) to market a hand held, Integrated Optical Biosensor (IOBS). While the Agreement itself is Non-Exclusive, any foreign patents filed and paid for by Biomagnetics become "EXCLUSIVE" for that specific country.
On June 21, 2010 the Company entered into a Collaborative Research and Development Agreement (CRADA) with Los Alamos National Laboratories to develop a new and updated wave-guide based Integrated Optical Biosensor (IOBS), including assay development for tuberculosis and cholera.
On March 15, 2011, Biomagnetics Diagnostics group and the team from Lathrop Engineering are scheduled to meet with the IOBS development scientists at Los Alamos National Laboratory in order to review all technical data relating to the miniaturization and design of the production model. Following the meeting, Lathrop Engineering will provide Biomagnetics with a cost and timeline to complete development.
The Company’s CRADA agreement date of completion is June 21, 2011, at which time LANL is to provide Biomagnetics with cholera and tuberculosis assay as well as a fully functioning bench top model. A validation/proof of concept report will also be included.
By the end of March 2011, the management team from Biomagnetics is scheduled to fly to India to interview potential scientific candidates who will be hired and employed by the Company and trained at Los Alamos on Biomagnetics’ new system. In turn, the job of this candidate will then be to train others and help with clinical trials at the National institute of Tuberculosis in Chennai, India.
Biomagnetics Diagnostics Corporation expects to introduce the IOBS to the market by the end of 2011.
The Biosensor Team
Mortality associated with disease can be decreased with early diagnosis. However, current technologies for the early detection of disease are inadequate, creating an imminent need for rapid, sensitive and specific detection platforms.
The Biosensor team at Los Alamos National Laboratory is addressing this inadequacy by developing new biosensor technologies for rapid diagnosis of pathogens. A “biosensor” is a sensor capable of detecting biological molecules such as proteins, carbohydrates and intactpathogens.
Here, the central theme is the sensitive, specific, and rapid detection of biological agents. The team develops methods to detect national security threats (anthrax, botulism) as well as medically important organisms and conditions (influenza, breast cancer, tuberculosis). To achieve these goals, the team relies on a group of researchers focused on the following areas:
• Engineering of optics and electronics
• Development and use of planar optical waveguides
• Assay development for protein and oligonucleotide detection
• Biological engineering
• Thin-film and surface chemistry
• Preparation and use of novel surface-reactive molecules
• Preparation and use of novel carbohydrate-based ligands
• Application of optical reporters to new problems
• Development of optical reporters
This project requires the participation of chemists, biologists, engineers, and materials experts alike. Such an integrated effort is possible because of extensive collaboration, both amongst scientists at the Los Alamos National Laboratory and with external organizations.
Los Alamos National Laboratory
The National Laboratory at Los Alamos is the largest institution in Northern New Mexico with more than 9,000 employees in addition to approximately 650 contractor personnel with an annual budget of approximately $2.2 billion.
From its origins as a secret laboratory dedicated to the famous Manhattan Project for atomic energy, the Los Alamos National Lab has continued to attract world-class scientists that have applied their energy and creativity to solving some of the nation's most challenging and complex problems. As one of the U.S. Department of Energy's multi-program, multi-disciplinary research laboratories, Los Alamos thrives on having the best people available performing the best scientific research in order to solve problems of global importance.
Investor Highlights
• Company holds revolutionary patented technologies (High Throughput Screening - Magnetic Testing Platform or HTS-MTP) designed to potentially re-vitalize the global diagnostics industry.
• Holds a Field-Of-Use Patent License Agreement with Los Alamos National Security, LLC, for the IOBS System.
• Entered into a CRADA Agreement with Los Alamos National Security for the Development of Pathogen Detection Technology, including the development of the tuberculosis (TB) and cholera assays.
• Excerpt from Biotechnology Sector Industry Profile 12-06-2010; The US biotechnology industry includes about 1,500 companies with combined annual revenue of more than $90 billion. Major companies include Amgen, Biogen Idec, Genentech (owned by Switzerland-based Roche), Genzyme, Life Technologies and Monsanto.
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Mr. Hardman is President and CEO of Biomagnetics and he has spent eight years developing Bio-Spectrum’s technology. His responsibilities include oversight and supervision of all Company operations and long term strategic planning. Mr. Hardman left active duty service in December 1974 and retired from the U.S. Navy reserves in October 1993. During his naval career, he served with the prestigious SEAL teams.
Paul Hardman, Vice-President of Operations
Currently responsible for running the day-to-day operations at Biomagnetics, Mr. Hardman’s past experience includes managing on-site personnel for Teleplan International and acting as manager for Certified Employment Group’s Roseville, CA operations.
Sanjay Mishra, Ph.D., Physics, Advisor
Sanjay Mishra, Ph.D. is responsible for advising Biomagnetics on matters of Physics in Thin Film Spectroscopy. He received his Masters of Science in Physics from Pittsburgh State University, Pittsburgh, Kansas, and his Ph.D. in Physics from the University of Missouri in Rolla, Missouri. Dr. Mishra participated in the design and implementation of electron spin polarization detectors at the Advance Light Source facility, Lawrence Berkeley National Laboratory, completing his third year of postdoctoral research. He currently holds the position of Professor, Department of Physics, at the University of Tennessee in Memphis.
Kuldip Sra, Ph.D., Chemistry, Advisor
Kuldip Sra, Ph.D., is responsible for advising the Company on matters of analytical assay development and drug discovery using chemical combinatorial peptide libraries synthesis methods. Previously he was engaged in immunodiagnostics development with Chiron Corporation in Emeryville, California where he served as lead scientist in the development of RIBA™ Assays for infectious diseases. Dr. Sra has also distinguished himself as a Senior Protein Chemist at Sangstat Medical Department of Protein Chemistry in Menlo Park, California, where he designed and developed point of care, one step assays for HIV-1/HIV-2, HTLV-I/II and CMV to include clinical trial and protocols on HTLV-I/II tests. He received a Master of Science degree from Punjab University in India in Organic Chemistry in addition to a Master of Science degree and a Ph.D. in Biochemistry from Seton Hall University in South Orange, New Jersey.
Jaspal Singh Mahal, MS, Microbiology, Advisor
Jaspal Mahal is responsible for advising the Company on matters of Microbiology. His education includes a Master’s of Science degree in Microbiology with a minor in Biochemistry and Immunology. Mr. Mahal left his position as a research chemist with Boehringer-Mannheim Corporation in the development of homogeneous enzyme assays for the medical diagnostic industry using CEDIA technology in order to come work with Bio-Spectrum. His accomplishments include the development of a novel confirmation assay for drugs of abuse, antibody screening and evaluation for immunoassays, and protein/antibody purification and conjugation.
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Our newsletter and website have been prepared for informational purposes only and are not intended to be used as a complete source of information on any particular company. An individual should never invest in the securities of any company profiled based solely on information contained in our reports. Individuals should assume that all information contained in the report about profiled companies is not trustworthy unless verified by their own independent research.
Any individual who chooses to invest in any securities should do so with caution. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Always research your own investments and consult with a registered investment advisor or licensed stock broker before investing.
Information contained in our report will contain “forward looking statements” as defined under Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Subscribers are cautioned not to place undue reliance upon these forward looking statements. These forward looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. Factors that could affect performance include, but are not limited to, those factors that are discussed in each profiled company's most recent reports or registration statements filed with the SEC. You should consider these factors in evaluating the forward looking statements included in the report and not place undue reliance upon such statements. We are committed to providing factual information on the companies that are profiled. However, we do not provide any assurance as to the accuracy or completeness of the information provided, including information regarding a profiled company's plans or ability to effect any planned or proposed actions. We have no first-hand knowledge of any profiled company’s operations and therefore cannot comment on their capabilities, intent, resources, nor experience and we make no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company and related public information sources which we believe to be reliable but we cannot guarantee the accuracy of the information. To the fullest extent of the law, we will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information provided in the report, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information we provide to any person or entity (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). We encourage you to invest carefully and read investment information available at the websites of the SEC at http://www.sec.gov and FINRA at http://www.finra.org.
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DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. OTCPicks.com makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. You are receiving this email because you have registered on OTCPicks.com or one of our affiliate companies.
The information contained in our report should be viewed as commercial advertisement and is not intended to be investment advice. The report is not provided to any particular individual with a view toward their individual circumstances. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.
Our newsletter and website have been prepared for informational purposes only and are not intended to be used as a complete source of information on any particular company. An individual should never invest in the securities of any company profiled based solely on information contained in our reports. Individuals should assume that all information contained in the report about profiled companies is not trustworthy unless verified by their own independent research.
Any individual who chooses to invest in any securities should do so with caution. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Always research your own investments and consult with a registered investment advisor or licensed stock broker before investing.
Information contained in our report will contain “forward looking statements” as defined under Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Subscribers are cautioned not to place undue reliance upon these forward looking statements. These forward looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. Factors that could affect performance include, but are not limited to, those factors that are discussed in each profiled company's most recent reports or registration statements filed with the SEC. You should consider these factors in evaluating the forward looking statements included in the report and not place undue reliance upon such statements. We are committed to providing factual information on the companies that are profiled. However, we do not provide any assurance as to the accuracy or completeness of the information provided, including information regarding a profiled company's plans or ability to effect any planned or proposed actions. We have no first-hand knowledge of any profiled company’s operations and therefore cannot comment on their capabilities, intent, resources, nor experience and we make no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company and related public information sources which we believe to be reliable but we cannot guarantee the accuracy of the information. To the fullest extent of the law, we will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information provided in the report, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information we provide to any person or entity (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). We encourage you to invest carefully and read investment information available at the websites of the SEC at http://www.sec.gov and FINRA at http://www.finra.org.
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DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. OTCPicks.com makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. You are receiving this email because you have registered on OTCPicks.com or one of our affiliate companies.
The information contained in our report should be viewed as commercial advertisement and is not intended to be investment advice. The report is not provided to any particular individual with a view toward their individual circumstances. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.
Our newsletter and website have been prepared for informational purposes only and are not intended to be used as a complete source of information on any particular company. An individual should never invest in the securities of any company profiled based solely on information contained in our reports. Individuals should assume that all information contained in the report about profiled companies is not trustworthy unless verified by their own independent research.
Any individual who chooses to invest in any securities should do so with caution. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Always research your own investments and consult with a registered investment advisor or licensed stock broker before investing.
Information contained in our report will contain “forward looking statements” as defined under Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Subscribers are cautioned not to place undue reliance upon these forward looking statements. These forward looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. Factors that could affect performance include, but are not limited to, those factors that are discussed in each profiled company's most recent reports or registration statements filed with the SEC. You should consider these factors in evaluating the forward looking statements included in the report and not place undue reliance upon such statements. We are committed to providing factual information on the companies that are profiled. However, we do not provide any assurance as to the accuracy or completeness of the information provided, including information regarding a profiled company's plans or ability to effect any planned or proposed actions. We have no first-hand knowledge of any profiled company’s operations and therefore cannot comment on their capabilities, intent, resources, nor experience and we make no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company and related public information sources which we believe to be reliable but we cannot guarantee the accuracy of the information. To the fullest extent of the law, we will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information provided in the report, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information we provide to any person or entity (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). We encourage you to invest carefully and read investment information available at the websites of the SEC at http://www.sec.gov and FINRA at http://www.finra.org.
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Mortality associated with disease can be decreased with early diagnosis. However, current technologies for the early detection of disease are inadequate, creating an imminent need for rapid, sensitive and specific detection platforms. 
