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Cousins' presentation, "TCPP Porphyrin Testing for Lung Cancer," outlinedcritical market need for a non-invasive and cost-efficient screeningalternative for early detection of lung cancer.
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Biomoda is currently developing and marketing inexpensive and accuratescreening diagnostic products using patented porphyrin technology. Thetechnology identifies cancerous or aberrant cells extracted from samples oflung sputum; porphyrins -- organic compounds that preferentially bind tocancerous cells -- glow red under fluorescent light and can be detected undera microscope.
Current diagnostic methods for lung cancer, including CT scans and X-rays,often detect the disease at more advanced stages. Biomoda's technologycomplements these tools by screening for signs of lung cancer at an earlierstage, ensuring that patients receive advanced tests at the appropriate time.
"The world market for lung and bladder cancer diagnostics is estimated tobe $1 to $1.2 billion per year, and in the U.S., $250 to $300 million peryear," said Cousins. "Biomoda's technology is poised to significantlyinfluence the future of early diagnosis and treatment of lung cancerthroughout the world."
Earlier this year, Biomoda and the New Mexico Institute of Mining andTechnology announced their partnership with the New Mexico Department ofVeterans Services to conduct a $350,000 clinical study using Biomoda'sproprietary testing technology for detection of early lung cancer in thestate's veterans. The New Mexico state legislature recently allocated anadditional $1.3 million in funding through the Interim Tobacco SettlementCommittee to the clinical screening program.
Lung cancer claims more lives than any other cancer. The expectedfive-year survival rate for all patients diagnosed with lung cancer is 15percent; the five-year survival rate for cases detected when the disease isstill localized is 50 percent. Presently, only 16 percent of lung cancer casesare diagnosed at this early stage.
Biomoda's technology was originally developed at Los Alamos NationalLaboratory.
CLIA, or the Clinical Laboratory Improvement Amendments, coversapproximately 189,000 laboratory entities and is regulated by the Centers forMedicare & Medicaid Services.
Forward Looking Statement
All statements in this press release that are not historical areforward-looking statements. Such statements are subject to risks anduncertainties that could cause actual results to differ materially from thoseprojected, including, but not limited to, uncertainties relating totechnologies, product development, manufacturing, market acceptance, cost andpricing of BIOMODA's products, dependence on collaborations and partners,regulatory approvals, competition, intellectual property of others, and patentprotection and litigation. BIOMODA, Inc. expressly disclaims any obligationor undertaking to release publicly any updates or revisions to anyforward-looking statements contained herein to reflect any change in BIOMODA'sexpectations with regard thereto or any change in events, conditions, orcircumstances on which any such statements are based.For more information contact: John Cousins Biomoda, Inc. 505-821-0875 [email protected]
SOURCE Biomoda, Inc.
