Vancouver, British Columbia – (June 16, 2020) – BioMark Diagnostics Inc. (“BioMark”) (CSE: BUX) (FSE: 20B) (OTCMKTS: BMKDF) is pleased to announce that its affiliated company, Bio Stream Diagnostics Inc., was selected to participate in the global academic science and tech startup program Creative Destruction Lab’s (CDL) recent dedicated Recovery program. CDL Recovery is designed to help turn science and research work into scalable products and services to address the consequences of the COVID-19 pandemic, in terms of both its effects on public health and the economy. CDL Recovery is focused on the full stack of information-based solutions in an attempt to accelerate the world’s recovery from the COVID-19 crisis.
CDL Recovery focuses on information-based solutions. These include, for example, managerial decision-making tools based on: (1) swab-based tests that predict whether the coronavirus is present in an individual, (2) contact tracing, (3) image analysis of people density or proximity, (4) symptom monitoring, and (5) workplace monitoring of air or sewage.
“We are extremely proud to have been selected for the prestigious and important science and tech-based initiative,” said Mr. Rashid Bux, CEO of BioMark Diagnostics. “We look forward to the valuable guidance from CDL’s experts and established network as we begin to work towards bringing our rapid COVID-19 screening platform to market.”
The CDL Recovery program will follow the same structure as its standard streams but will be done at twice the pace in order to expedite the results. The program is available at no cost, and without any equity taken by any of the program operators. Effective objective setting is the cornerstone of the program. Meetings with CDL mentors have a purpose of assessing progress and setting new objectives. Companies that underperform on their objectives are periodically cut from the program.
Creative Destruction Lab (CDL) is a non-profit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies.
CDL’s model for helping startups move from concept to product is fairly unique, and potentially well-suited to addressing new needs that emerge as a result of how the world is changing in response to the novel coronavirus. Many of the efforts to address needs both in terms of therapeutics and in medical hardware to help shore up shortages are originating at schools and universities around the world, and CDL’s expertise heavily favors moving deep tech and hard science from inside the research lab to the market.
The program is aimed at helping usher innovations from product in key areas, including around diagnostic testing, vaccine development, remote care and telemedicine, as well as in areas of economic support like virtual work, talent re-training, remote equipment operation, automation and food production and supply. CDL founder and University of Toronto professor Ajay Agrawal said in a blog post about the new program that many have suggested there’s a need “to assume a wartime footing in response to COVID-19,” and that’s one of the aims of the program.
It’s definitely true that crises like the one we face currently have a way of decreasing the turnaround time from research to development and deployment. And already, CDL’s program is designed from the ground-up to try to accelerate the pace at which that happens, working with academic institutions around the world, including the University of Oxford, HEC Paris, the Georgia Institute of Technology, the University of British Columbia, HEC Montreal, the University of Calgary and Dalhousie University, as well as the University of Toronto. Teams that are approved to join take part in a series of sessions that set objectives, and then measure their progress, guided by mentors, including the founders and executives of world-leading companies and institutions.
CDL mentors include accomplished medical and health experts, entrepreneurs, experienced operators, active angel and venture investors, world-leading scientists, engineers, and economists. Mentors meet via the Virtual CDL platform to help founders set objectives over the duration of the program. CDL Recovery is divided into Economic Recovery or Public Health. Mentors in both streams can be accessed via: https://www.creativedestructionlab.com/people/
About Bio Stream Diagnostics Inc.
Bio Stream Diagnostics Inc is developing a novel COVID-19-detection method leveraging new generation Raman spectroscopy and the power of machine learning an alternative detection tool to polymerase chain reaction (PCR) detection arrays and other detection systems.
About BioMark Diagnostics Inc.
BioMark is developing proprietary, non-invasive, and accurate cancer diagnostic solutions which can help detect, monitor and assess treatment for cancer early and cost effectively. The technology can also be used for measuring response to treatment and potentially for serial monitoring for cancer survivors. Further information about BioMark is available under its profile on the SEDAR website www.sedar.com and on the CSE website https://thecse.com/.