Corgenix Signs Collaboration Agreement With Randox Laboratories to Develop and Market Automated Version of AspirinWorks(R) Test
03 April 2008 - 2:00PM
PR Newswire (US)
NEW FORMAT ENABLES HIGH VOLUME TESTING, EXPANDS GLOBAL MARKET
OPPORTUNITY FOR TECHNOLOGY TO MEASURE ASPIRIN EFFECT DENVER, April
3, 2008 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation
(OTC:CONX) (BULLETIN BOARD: CONX) , a worldwide developer and
marketer of diagnostic test kits, announced today that it has
entered into an agreement with Randox Laboratories, a diagnostic
company with headquarters in Crumlin, United Kingdom, to expand the
test processing technology and distribution network of the Corgenix
AspirinWorks(R) product. Under the terms of the agreement, the
companies will collaborate in adapting the Corgenix AspirinWorks
test to a format compatible with automated chemistry analyzers. The
AspirinWorks test will be manufactured at Randox facilities in the
United Kingdom, and the two companies will share global
distribution rights. "We are very pleased about this new
relationship with Randox. They are one of the world's premier
diagnostic companies in automated technology, and together we
expect to adapt the important AspirinWorks product into a format
suitable for high volume clinical testing," said Douglass Simpson,
Corgenix President and CEO. "A key factor in the future success of
the AspirinWorks product will be automation. We are confident that
our collaboration with Randox will result in a successful launch of
the new product format next year." AspirinWorks is a simple urine
test that determines the effect of aspirin on platelets by
measuring the level of thromboxane production (aspirin's target).
The higher the levels of thromboxane, the stickier the blood
platelets, and the less impact the aspirin is having. This crucial
information allows physicians to individualize a patient's aspirin
therapy. Unlike other platelet tests, which require freshly drawn
blood that must be evaluated within at least 4 hours, the current
AspirinWorks test only requires a urine sample that can be obtained
in any doctor's office or patient service center, making the test
easy for both physician and patient. "We know that not all
individuals respond to aspirin the same and lack of aspirin effect
should be a concern of anyone taking aspirin to prevent heart
attack and stroke," said Corgenix' Clinical Affairs Director Gordon
Ens. "Marrying our AspirinWorks product to automated technologies
by means of Randox expertise is a great opportunity for addressing
the long-term needs of clinical testing laboratories." Simpson said
the collaborative agreement with Randox is particularly important
for the AspirinWorks test and for Corgenix because it lays a solid
foundation for growth and signals future collaborations on a number
of other products and technologies between the two companies. 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
http://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 http://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. DATASOURCE: Corgenix Medical Corporation CONTACT:
William Critchfield, Senior VP and CFO of Corgenix Medical Corp.,
+1-303-453-8903, ; or Dan Snyders, Vice President, Public Relations
Supervisor of Armada Medical Marketing, +1-303-623-1190, ext. 230,
for Corgenix Medical Corporation Web site: http://www.corgenix.com/
http://www.randox.com/
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