DENVER, April 3, 2008 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation (OTC 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.
SOURCE Corgenix Medical Corporation
