MONTHLY PROGRESS REPORT
Name of Listed Issuer:
Number of Outstanding Listed Securities:
BioMark Diagnostics Inc.
April 4th 2022
This Monthly Progress Report must be posted before the opening of trading on the fifth trading day of each month. This report is not intended to replace the Issuer’s obligation to separately report material information forthwith upon the information becoming known to management or to post the forms required by Exchange Policies. If material information became known and was reported during the preceding month to which this report relates, this report should refer to the material information, the news release date and the posting date on the Exchange website.
This report is intended to keep investors and the market informed of the Issuer’s ongoing business and management activities that occurred during the preceding month. Do not discuss goals or future plans unless they have crystallized to the point that they are “material information” as defined in the Policies. The discussion in this report must be factual, balanced and non-promotional.
- Prepare this Monthly Progress Report using the format set out below. The sequence of questions must not be altered, nor should questions be omitted or left unanswered. The answers to the items must be in narrative form. State when the answer to any item is negative or not applicable to the Issuer. The title to each item must precede the answer.
- The term “Issuer” includes the Issuer and any of its subsidiaries.
- Terms used and not defined in this form are defined or interpreted in Policy 1 – Interpretation and General Provisions.
Report on Business
- Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.
The Issuer continued its business of developing proprietary, non-invasive, and accurate cancer diagnostic solutions which can help detect, monitor, and assess treatment for cancer early, accurately and cost effectively.
- Provide a general overview and discussion of the activities of management.
- The pandemic is entering an endemic stage as restrictions are being lifted. There are still concerns of infection rates due to the Omricon BA.1 and BA.2 variants that are still spreading globally. The company remains hopeful but vigilant. Financial, operational and recovery measures instituted by the management team aided in sustaining business viability over the past 24 months and the company intends to navigate through the endemic phase diligently.
- BioMark submitted a manuscript tilted “Spermidine/spermine N1-acetyltransferase 1 (SAT1) – A Gene Target for Selective Sensitization of GBM Cells using an Ionizable Lipid Nanoparticle to Deliver siRNA.” through the collaboration with Dr. Don Miller and his group at the Department of Pharmacology & Therapeutics, Kleysen Institute for Advanced Medicine University of Manitoba to a high impact peer review medical journal. The corresponding authors have responded to comments from reviewers and the editor pending decision is imminent.
- Discussions have commenced with a French group that is looking at introducing a national lung cancer screening program with support from the medical institution, regulators, and local labs. The group approached BioMark after conducting a thorough review of existing lung cancer technologies. Both BioMark and the French group are in discussions in regard to designing an effective business model and in addition, reviewing 2 existing calls for proposal in Europe for introducing an effective lung cancer screening program.
- BioMark and Phytronix team’s poster presentation has been accepted and will be presented at the ASMS Conference on Mass Spectrometry and Allied Topics scheduled from June 5 – 9, 2022 at the Minneapolis Convention Center, Minneapolis, MN. The abstract is titled: Quantification of Beta-Hydroxybutyric acid and Tryptophan in plasma as metabolic biomarkers of cancer using the LDTD-MS/MS technique.
- BioMark received the first set of plasma samples from its collaboration with the University of Brescia in Italy under Dr. Paolo Bossi as principal investigator for the study titled “IDENTIFICATION OF CIRCULATING MARKERS TO CUSTOMIZE THE FOLLOW-UP OF HEAD AND NECK CANCER PATIENTS FOR EARLY IDENTIFICATION OF RECURRENCES/SECOND TUMORS”. Analysis will be performed at The Metabolomics Innovation Centre using a special mega panel for this important discovery and validation phase of the study. This study will further help demonstrate the power of metabolomics coupled with other Omics and radiomics as robust clinical technology for cancer management.
- BioMark continued to entertain discussions various financial institutions and government agencies to secure non-dilutive funding, favourable loans and equity investments to accelerate the commercialization of its early lung cancer liquid biopsy franchise and to advance its expansion strategy in Quebec and the USA and for general corporate purposes.
- The company has reached out to 3 major medical institutions in United States as it begins to pursue its US expansion plans. Business partnership activities are being explored to conduct clinical trials and establish new centres of excellence for early lung cancer screening. Parties are looking to sign potential agreements and schedule visits to the collaborating centres. The company is in the final phase of reviewing and signing a collaboration research agreement with its first medical institution involving early lung cancer diagnosis
- BioMark continues to be invited to discuss the company, its technology platform, and developments in several high-profile podcasts in Canada and the USA. The next podcasts are scheduled for April – Genius (Canada) and later in May – Passionate Pioneer (USA)
- Biomark had several meetings with different advocacy groups both in Canada and United states that focus on lung cancer. The groups include Cancer Early Detection Alliance; Lung Cancer Foundation of America and Bloodpac as it prepares to activate collaborations in USA for its early lung cancer liquid biopsy technology. In Canada, BioMark’s team are in dialogue with Oncology Education to explore ways to engage with the oncology community domestically.
- Describe and provide details of any new products or services developed or offered. For resource companies, provide details of new drilling, exploration or production programs and acquisitions of any new properties and attach any mineral or oil and gas or other reports required under Ontario securities law.
- Describe and provide details of any products or services that were discontinued. For resource companies, provide details of any drilling, exploration or production programs that have been amended or abandoned.
- Describe any new business relationships entered into between the Issuer, the Issuer’s affiliates or third parties including contracts to supply products or services, joint venture agreements and licensing agreements etc. State whether the relationship is with a Related Person of the Issuer and provide details of the relationship.
- Describe the expiry or termination of any contracts or agreements between the Issuer, the Issuer’s affiliates or third parties or cancellation of any financing arrangements that have been previously announced.
- Describe any acquisitions by the Issuer or dispositions of the Issuer’s assets that occurred during the preceding month. Provide details of the nature of the assets acquired or disposed of and provide details of the consideration paid or payable together with a schedule of payments if applicable, and of any valuation. State how the consideration was determined and whether the acquisition was from or the disposition was to a Related Person of the Issuer and provide details of the relationship.
- Describe the acquisition of new customers or loss of customers.
- Describe any new developments or effects on intangible products such as brand names, circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and trademarks.
The patent application of “METHOD OF DETECTING LUNG CANCER” has been allowed by the Japanese Patent Office (JPO) with the Decision to Grant a Patent (in Japanese) issued by the JPO on March 1, 2022.
On March 23, 2022, BioMark received an official notice issued by the Canadian Trademarks Office confirming the final acceptance of BioMark trademark.
The Issuer continues to file trademark and patents in specific jurisdictions for all its patents. Review of the filings and opinions from patent offices are being reviewed as needed.
- Report on any employee hiring, terminations or lay-offs with details of anticipated length of lay-offs.
- Report on any labour disputes and resolutions of those disputes if applicable.
- Describe and provide details of legal proceedings to which the Issuer became a party, including the name of the court or agency, the date instituted, the principal parties to the proceedings, the nature of the claim, the amount claimed, if any, if the proceedings are being contested, and the present status of the proceedings.
- Provide details of any indebtedness incurred or repaid by the Issuer together with the terms of such indebtedness.
- Provide details of any securities issued and options or warrants granted.
- Provide details of any loans to or by Related Persons.
- Provide details of any changes in directors, officers, or committee members.
- Discuss any trends which are likely to impact the Issuer including trends in the Issuer’s market(s) or political/regulatory trends.
The trends and risks which are likely to impact the Issuer are discussed in the Form 51-102F1 Management’s Discussion & Analysis Annual Report for the Year Ended March 31, 2021.
Certificate Of Compliance
The undersigned hereby certifies that:
- The undersigned is a director and/or senior officer of the Issuer and has been duly authorized by a resolution of the board of directors of the Issuer to sign this Certificate of Compliance.
- As of the date hereof there where is no material information concerning the Issuer which has not been publicly disclosed.
- The undersigned hereby certifies to the Exchange that the Issuer is in compliance with the requirements of applicable securities legislation (as such term is defined in National Instrument 14-101) and all Exchange Requirements (as defined in CNSX Policy 1).
- All of the information in this Form 7 Monthly Progress Report is true.
Dated: April 4, 2022
Rashid Ahmed Maula Bux
(Name of Director or Senior Officer)
“Rashid Ahmed Maula Bux“
President & CEO
Name of Issuer
BioMark Diagnostics Inc.
For Month End
Date of Report
130-3851 Shell Road
Richmond, BC, V6X 2W2
Issuer Fax No.
Issuer Telephone No.
Rashid Ahmed Bux
Contact Telephone No.
Web Site Address