Vancouver, British Columbia – (June 18, 2020) – BioMark Diagnostics Inc. (“BioMark”) (CSE: BUX) (FSE: 20B) (OTCMKTS: BMKDF) announced today that the company has been granted a patent titled “A METHOD FOR ASSAYING THE ACTIVITY OF SPERMIDINE/SPERMINE N1-ACETYLTRANSFERASE.” The method comprises correlating a presence of the acetylated metabolite of rimantadine or tocainide to spermidine/spermine N1-acetyltransferase activity. The patent will cover a novel approach to diagnosing and monitoring various forms of cancer.
Cancer is one of the leading causes of deaths in the world and prevalence of the disease has been increasing. The global cancer diagnostics market size was valued at $144. 4 billion in 2018 and is expected to register a CAGR of 7.0% over the forecast period. Rising awareness and supportive government initiatives are some additional factors anticipated to boost market growth during the forecast period.
“Receiving this critical patent reaffirms our commitment to enhancing and developing our core cancer technology platform,” said Rashid Bux, Chief Executive Officer of BioMark Diagnostics Inc. “This patent bolsters our intellectual property beyond a single compound, providing us the ability to select potentially better signaling candidates which can be targeted for specific or more fatal cancers. We have expanded our portfolio of solid candidates that supports our unique and non-invasive approach of using in many cases, a selective single dose FDA off label drugs as “smart probes” for diagnostic applications. Our approach offers clinicians and patients an additional set of tools to help better manage the cancer continuum of care.”