Form 7 Monthly Progress Report – September 2022


Form 7 Monthly Progress Report – August 2022

Name of Listed Issuer:

Trading Symbol:

Number of Outstanding Listed Securities:


BioMark Diagnostics Inc. (the “Issuer”)



October 2, 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.

General Instructions

  1. 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.

  2. The term “Issuer” includes the Issuer and any of its subsidiaries.

  3. Terms used and not defined in this form are defined or interpreted in Policy 1 – Interpretation and General Provisions.

Report on Business

  1. 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. The Company continues to hold regular management meetings regarding all aspects of the Company’s business plan and executes action items that result from these meetings.

Management’s primary areas of focus continue to include:

  • Accelerate commercialization efforts of its early lung cancer lab developed test (LDT) following promising interim data presented at European Society of Medical Oncology in Paris France on Sept 10th. The data was derived on a independent large scale retrospective study with expanded control. The results were statistically significant.

  • Preparation for lab certification and accreditation to meet ISO 15891 standards

  • Engage with USA medical institutions, insurance companies (payers) regulatory experts and bio-pharma partners as it’s early lung cancer LDT commercialization efforts gathers momentum. US market is strategic due to its large addressable lung cancer screening market for at risk population (Over 16 million annually)

  • Seek additional non-dilutive funding resources for its lab operations, certification of its clinical lab, U.S. expansion and clinical studies.

  1. Provide a general overview and discussion of the activities of management.

  • Beyond covid worriers, businesses are currently facing strong inflationary headwinds, supply chain bottlenecks and labour shortages. Management is taking measures to counteract any negative impact of these factors after managing the Covid challenges over the past 3 years by instituting resilient operational and financial systems/processes.

  • On September 1, 2022, BioMark announced that its Quebec-based wholly owned subsidiary BioMark Diagnostic Solutions Inc. (“BDS”) was selected among the top 10 innovative companies to participate in the 2022 MedTech & Digital Health U.S. Market Access Program for Quebec companies with Medical Alley. The 4-month long program will help the Company to accelerate entry into the U.S. market through Medical Alley’s vibrant ecosystem. The program includes developing U.S. business development and reimbursement strategies, identifying partners, and tailoring delivery of lifesaving innovations to patients.

  • BioMark presented a poster and abstract at the ESMO Congress 2022 that took place on September 9 – 13, 2022 in Paris, France. Abstract title: “Metabolomic Profiling for the Early Detection of Lung Cancer”. The Company presented clinical data using its quantitative metabolomic platform to identify early-stage lung cancer in retrospective plasma samples from individual with smoking history, or suffering from other lung diseases including asthma, COPD, bronchiectasis and COVID. The poster is accessible on the Company website.

  • On September 20, 2022, BioMark announced that the US Patent Office (USPTO) has granted BioMark patent number US 11,447,168 that covers a novel approach to diagnosing and measuring treatment response for various forms of hard to detect and treat cancer. The technology can also be used as a surveillance tool for recurring disease. BioMark is currently pursuing two clinical trials using this liquid biopsy platform that can improve identification and assessing response to treatment for patients with lung cancer and glioblastoma.

  • BioMark and IUCPQ’s research group submitted an abstract titled “Metabolomic Profiling for Pulmonary Neuroendocrine Tumors (NETs)” for presentation at the annual United States and Canada Academy of Pathology (USCAP) conference to be held in New Orleans from March 11 – 16, 2023.

  • BioMark Diagnostic Solutions Inc (BDS) submitted EUREKA Canada-France Expression of Interest to the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The program could help support the early lung cancer collaboration between the 2 nations. Once reviewed and accepted a full application will be submitted. The National Research Council of Canada (NRC) is Canada’s National Office for Eureka and provides Canadian companies, researchers and academics with a first point of contact and access to the expansive global network.

  • BioMark continued to entertain discussions with 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 USA and internationally as well as for general corporate purposes.

About Medical Alley Association

Founded in 1984, Medical Alley Association (MAA) represents the most diverse and influential healthcare community in the world. The members span the full continuum of care – from payers to providers to digital health, biotech, medical device and everything in between. Its mission is to elevate the Medical Alley region as The Global Epicenter of Health Innovation and Care.

About ESMO

Founded in 1975, ESMO has European roots with a global reach. Home for all oncology stakeholders, ESMO connects professionals with diverse expertise and experience. Its education and information resources support an integrated multi-professional approach to cancer care, from a medical oncology perspective.

ESMO is the leading professional organization for medical oncology. With more than 25,000 members representing oncology professionals from over 160 countries worldwide, ESMO is the society of reference for oncology education and information.

The ESMO Congress 2022 will be held in person in Paris and virtually between 9-13 September 2022. Around 2000 abstracts and late-breaking abstracts will be presented during the congress days, and the congress program is available online.


  1. 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.

Not applicable.

  1. 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.

Not applicable.

  1. 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.

Not applicable.

  1. 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.

Not applicable.

  1. 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.

Not applicable.

  1. Describe the acquisition of new customers or loss of customers.

Not applicable.

  1. Describe any new developments or effects on intangible products such as brand names, circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and trademarks.

BioMark obtained a novel patent in USA, patent number US 11,447,168 that covers a novel approach to diagnosing and measuring treatment response for various forms of hard to detect and treat cancer. The technology can also be used as a surveillance tool for recurring disease.

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.

  1. Report on any employee hiring, terminations or lay-offs with details of anticipated length of lay-offs.

Not applicable.

  1. Report on any labour disputes and resolutions of those disputes if applicable.

Not applicable.

  1. 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.

Not applicable.

  1. Provide details of any indebtedness incurred or repaid by the Issuer together with the terms of such indebtedness.

Not applicable.

  1. Provide details of any securities issued and options or warrants granted.

Not applicable.

  1. Provide details of any loans to or by Related Persons.

Not applicable.

  1. Provide details of any changes in directors, officers, or committee members.

Not applicable.

  1. 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, 2022.

Certificate Of Compliance

The undersigned hereby certifies that:

  1. 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.

  2. As of the date hereof there where is no material information concerning the Issuer which has not been publicly disclosed.

  3. 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).

  4. All of the information in this Form 7 Monthly Progress Report is true.

Dated October 2, 2022 .

Rashid Ahmed Maula Bux______

Name of Director or Senior Officer

                                                                                “Rashid Ahmed Maula Bux”____

President & CEO                                   
Official Capacity

Issuer Details
Name of Issuer

BioMark Diagnostics Inc.
For Month End

September, 2022
Date of Report

Issuer Address

130 3851 Shell Road
City/Province/Postal Code

Richmond, BC, V6X 2W2
Issuer Fax No.

Issuer Telephone No.

(604) 370-0779
Contact Name

Rashid Ahmed Bux
Contact Position

Contact Telephone No.

(604) 370-0779
Contact Email Address

[email protected]
Web Site Address
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BioMark Diagnostics Inc.
FSE: 20B

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