Zenosense, Inc. (OTCQB: ZENO) is a medical device company, which primarily focuses on its flagship product, MIDS Cardiac, which is a cardiac diagnostic device. Shares of the Spain-based company are rallying 20%, during afternoon trading on Wednesday, February 22, 2017. Over the past month, Zenosense, Inc. has seen average daily volume of 128,064 shares. However, volume of 288,307 shares or dollar volume of $207,581, has already exchanged hands through today’s trading.
Shares of Zenosense, Inc. are rallying Wednesday, after the company announced that its flagship product has begun quantitative testing. These tests are important, as they determine the quality of the detection ability of the diagnostic device. Using a variety of different nano-samples and sources, the testing will put the MIDS Cardiac device to the test and possibly one step closer to full-production. The company files a patent on its MIDS device in January 2017. Here is the full press release detailing of the testing:
Zenosense, Inc. Press Release:
VALENCIA, SPAIN–(Marketwired – Feb 22, 2017) – Zenosense, Inc. ( OTCQB : ZENO ) (“Zenosense”, the “Company”), a healthcare technology company primarily focused on the development and commercialization of MIDS Cardiac™, a Point of Care (“POC”) handheld device for the early detection of certain cardiac event biomarkers to significantly accelerate the triage, diagnosis, treatment and disposition of patients reporting chest pain and with suspected acute myocardial infarction (heart attack), is pleased to announce that MIDS Medical Limited (“MML”), our joint venture based at Sci-Tech, Daresbury, has completed construction of two bench readers designed to test two methods of magnetic nanoparticle detection.
Following an initial bench rig evaluation phase in Q4, 2016 MML has designed and constructed two types of rigs to test its two related nano-magnetic detection systems; these rigs are designed to gather preliminary, definitive quantitative data under highly controlled conditions.
Priority testing has now commenced on the first of these rigs, a second iteration design designed to simulate MML’s “Lab-on-Chip” detection method, whereby nanoparticles are dosed into wells on a “Test Slide” and located highly accurately in very close proximity to Hall effect magnetic sensors. This patented design is envisaged to be embodied in a commercial test strip where the Hall sensors will be integrated in a disposable test strip, the Hall sensors then being permanently and accurately located.
Testing is designed to methodically measure the detective ability of the MIDS system: Firstly, pure Magnetite nanoparticles in the sub-200 nanometer to 1 micrometer range are being tested. These particles are dosed in liquid suspension into the test slide wells in defined multi-nanolitre sized volumes. MML subsequently plans to test modern composite magnetic beads in the 1 to 3 micrometer range, such as those used in high sensitivity troponin assays. Initial testing of very small volumes of very small pure Magnetite nanoparticles has already produced encouraging results, with relatively large and clean detective signals being recorded. Based on these first results, MML expects it will be able to similarly detect magnetic beads which may have a lower magnetic signal density but higher individual volumes. MML expects refinements will be made to this simulation rig, to further improve reproducibility of results and to better inform design, prior to the production of a prototype Lab-on-Chip test strip.
A round of testing to a similar protocol is also planned on the second rig. This is a first iteration construction designed to explore the viability of a “Magnetic Bridge” structure for which MML submitted a patent application on January 19, 2017.
We believe that, in addition to cardiac markers, the MIDS technology platform can be applied across a wide spectrum of diagnostic tests. Proof of detection is the first step in applying the MIDS technology to cardiac markers and other immunoassay tests. The Company believes there is an enormous potential market for highly accurate cardiac marker assays conducted by a hand held device at the POC. The Company’s target is to develop a hand-held device which can achieve Gold Standard laboratory accuracy or better, with results delivered at the POC within minutes.
About Zenosense, Inc.
Zenosense Inc.’s primary focus, through our joint venture ownership in MIDS Medical Ltd., is the development of a cost-effective, hand-held Point of Care rapid cardiac diagnostic device, MIDS Cardiac™, and is also the holder of an exclusive global license agreement to develop and market effective medical devices for use in hospitals and primary healthcare settings targeting the early detection of both deadly bacteria and certain cancers in the exhaled breath of patients.
To find out more about Zenosense ( OTCQB : ZENO ), visit our website at www.zenosense.com.
Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as “expects,” “intends,” “plans,” “may,” “could,” “should,” “anticipates,” “likely,” “believes” and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed on filed on May 23, 2016, and in Company reports filed subsequently thereto. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Respective statements concerning the development of both MIDS Cardiac™ and other devices under development have been made based on information obtained from MIDS Medical Ltd. and Zenon Biosystem, which the Company believes to be accurate, but have not been independently verified.