Acrongenomics Inc. and Molecular Vision Ltd. Take Further Steps towards the First Milestone for Diabetes Monitoring
October 5, 2006
Geneva, Switzerland--Acrongenomics,Inc. (OTCBB:AGNM) and Molecular Vision, Ltd. -- an Imperial Innovations spin-out company -- today present a second R&D update of their joint collaboration, following the meeting that took place on 27th September 2006 at Acrongenomics' headquarters in Geneva. The ultimate goal of the partnership is to develop and commercialize smart Point-of-Care (POC) diagnostic devices based on the innovative technology platform offered by Molecular Vision's experts.
The devices, being developed upon mutually set milestones, will enable personalized on-the-spot analysis for:
Diabetes monitoring through albumin/creatinine detection in urine
Detection of cardiac markers
Detection of STDs (Sexually Transmitted Diseases), and
Detection of substances of abuse
Both parties are working towards a generic research prototype to be delivered at the beginning of 2007. Development steps include the design and fabrication of stand-alone product models based around chemiluminescence detection. The products will comprise a microfluidic substrate, an organic photodetector, a printed circuit board, a display and a battery.
Dr. Jingsong Huang, a principal research scientist at Molecular Vision Ltd, presented our technology's latest results at the OEC 2006 conference that took place in Frankfurt, in a talk entitled "Application of polymer electronic devices in miniaturized diagnostic detection systems". Dr. Huang reported on the fabrication on a chip-based diagnostic device by integration of a pLED and a polymer photodetector with a microfluidic analysis system. Details of the integration process and the optimization of the components were also presented.
In the coming months a series of microfluidic devices, able to handle blood samples, will be tested and the most suitable blood pretreatment methods and assays will be determined. This work, which is being partially funded by the UK Government's Health Technology Devices (HTD) Scheme, will provide the basis for the development of the next POC diagnostic devices capable of detecting cardiovascular markers.
The company also announces that Mr. Platon Tzouvalis MSc Vice President of Acrongenomics, Inc. has been appointed President of Acrongenomics, Inc., replacing Constatine Poulios who has stepped down from the company to pursue other opportunities.
About Acrongenomics, Inc.
Acrongenomics Inc., is a publicly traded company that focuses on investing and commercializing novel technology platforms concerning the Life Sciences sector. Acrongenomics brings novel and realistic concepts to market by transforming scientific innovations into tangible, consumer-oriented applications. The company's headquarters are located at Geneva, Switzerland.
About Molecular Vision, Ltd.
Molecular Vision is a spin-off company of Imperial Innovations Ltd. The company was founded to meet a clearly defined demand in the medical diagnostics, biosensors and analytical instrumentations markets. The technology emerged for covering the need for miniaturized chemical and biological detectors offering high sensitivity and functionality at low cost. The company has directly addressed this market demand by inventing a novel method for optical detection based on recent advances in organic electronics and light emitting diodes combined with microfluidics technology. The company has mainly focused on applying its technology to the medical diagnostics markets.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions. For further information concerning risks and uncertainties that may affect our future results, please review the disclosures contained in our latest filings with the SEC, including our most recent annual report on Form 10-KSB, and subsequent quarterly reports on Form 10-QSB. Other than as required by federal securities laws, we undertake no obligation to publicly update or revise any of our forward-looking statements, whether as a result of changed circumstances, new information, future events, or for any other reason occurring after the date of this news release.
