BioMark Diagnostics - Founder and CEO, Rashid Bux
Founder and CEO, Rashid Bux
Source: BioMark Diagnostics
  • Biotech company, BioMark Diagnostics (CSE:BUX) has been granted a European patent for a new cancer diagnosis method
  • The method correlates the presence of specific metabolic substances to activity involving the transfer of acetyl groups
  • BioMark Diagnostics expects that the patent will assist in selecting better candidates for targeting specific cancers 
  • In 2018, the global cancer diagnostic market was valued at approximately C$144.4 billion, and is likely to continue rising
  • BioMark Diagnostics (CSE:BUX) is up 18.75 per cent and is currently trading at C$0.19 per share

Biotech company, BioMark Diagnostics (CSE:BUX) has been granted a European patent for a new cancer diagnosis method.

Specifically, the patent looks for the presence of acetylated metabolite of rimantadine or tocainide. Rimantadine is an antiviral drug, while tocainide is a drug which suppresses irregular heart rhythms. 

The patented method suggests that the presence of these drugs’ metabolic products correlates to the enzyme’s activity.

BioMark Diagnostics expects that the patent will assist in selecting better candidates for targeting particular types of cancer.

BioMark CEO, Rashid Bux, welcomed the new addition to the company’s existing portfolio of diagnostic methods.

“This patent bolsters our intellectual property beyond a single compound, providing us the ability to select potentially better signalling candidates, which can be targeted for specific or more fatal cancers. 

“We have expanded our portfolio of solid candidates that supports our unique and non-invasive approach of using in many cases, a selective single dose FDA off label drugs as ‘smart probes’ for diagnostic applications. 

“Our approach offers clinicians and patients an additional set of tools to help better manage the cancer continuum of care,” he said.

Cancer remains one of the leading causes of death worldwide, reportedly killing approximately 9.6 million in 2018. As the prevalence of the disease continues to increase, so to does the demand for cancer diagnosis methods. 

In 2018, the global cancer diagnostic market was valued at approximately C$144.4 billion, and is likely to continue rising.

BioMark Diagnostics (CSE:BUX) is up 18.75 per cent and trading at 19 cents per share at 10:07pm EDT.

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