DENVER — March 3, 2011 — Corgenix Medical Corporation (OTC BB: CONX) has successfully completed the feasibility stage for a new, high-speed automated test format for its AspirinWorks® Test. Developed in collaboration with Randox Laboratories, the new format will make it faster and easier to perform the AspirinWorks Test at clinical laboratories and hospitals around the world.
Millions of Americans take a daily aspirin to prevent heart attack or stroke but don’t know if the aspirin is having the desired effect. AspirinWorks is a simple urine test to measure levels of 11-dehydro thromboxane B2 (11dhTxB2) to determine aspirin effect in apparently healthy individuals. The goal of aspirin therapy is to reduce levels of thromboxane in the blood, decreasing platelet stickiness, and therefore reducing the chance of forming a blood clot. AspirinWorks is the only FDA-cleared test that measures levels of thromboxane metabolite, 11dhTxB2, to determine aspirin effect. Studies show that higher levels of 11dhTxB2 in individuals on daily aspirin therapy indicate a greater risk of cardiovascular events, including stroke, myocardial infarction and cardiac death.
“We’ve taken another critical step forward in expanding the potential market for the AspirinWorks Test,” said Douglass Simpson, Corgenix President and CEO. “The next step in this process will be the launch of the new fully automated immunoturbidimetric (IT) format, making it easier and faster to process large volumes of this important cardiovascular test.”
Once completed and granted market clearance by the FDA, the new IT assay for 11dhTxB2 will be compatible with automated chemistry analyzers, making the test readily available in most
hospital laboratories. The assay will be manufactured at Randox Laboratories in the United Kingdom, and the two companies will share global distribution rights.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for vascular diseases, immunology disorders, and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 52 diagnostic products through a global distribution. More information is available at www.corgenix.com.
About Randox Laboratories
Randox is an international diagnostics company, headquartered in the UK. Currently the twenty- third largest diagnostics company in the world, Randox develops, manufactures and markets clinical diagnostic products worldwide. Core products are: Biochip Array Technology; clinical chemistry analyzers and reagents; quality controls and external quality assurance programs; environmental diagnostics; recombinant proteins and antibodies. More information is available at www.randox.com.
Statements in this press release that are not strictly historical facts are “forward-looking” statements (identified by the words “believe”, “estimate”, “project”, “expect” or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company’ s products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company’ s periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Armada Medical Marketing
Dan Snyders, Vice President and Public Relations Supervisor Phone: 303-623-1190 x230
Corgenix Medical Corp.
William Critchfield, Senior VP and CFO Phone: 303-453-8903