PORTLAND, Ore., July 14, 2011 /PRNewswire/ -- QuantRx® Biomedical
Corporation (OTCQB:QTXB), an emerging leader in the development and
commercialization of innovative diagnostic products based on its
patented technology platforms, is pleased to announce that
following the successful resolution and full settlement of all
matters related to the QN Joint Venture as disclosed in a Form 8-K
filed with the SEC on July 8, 2011,
the Company is currently implementing a go to market strategy for
its market ready over-the-counter (OTC) healthcare products.
Further, the Company plans to initiate a clinical study to
confirm an innovative, and potentially practice changing, approach
to fetal genomic diagnostics using its patented PadKit technology.
These clinical investigations will be done in collaboration with
GMSBIOTECH, with initial data anticipated to be generated prior to
year end.
Dr. Shalom Hirschman, Chairman
and CEO, stated, "The company is developing strategic plans to
bring products to market as quickly as possible. Our OTC pads for
daily feminine hygiene and intergluteal pads for the temporary
relief of hemorrhoids will be the focus of the initial
commercialization effort."
Further, Dr, William Fleming,
Chief Scientific Officer, stated, "We are committed to building
shareholder value by capitalizing on our innovative patented
diagnostic technologies, particularly our genomic-based diagnostic
technology targeting the monitoring of recurring cancers and
serious fetal genomic disease and health conditions."
About QuantRx Biomedical
QuantRx Biomedical Corporation (OTCQB: QTXB) is focused on the
development and commercialization of innovative over-the-counter
and genomic products for advanced diagnosis of serious disease and
health conditions. With synergistic expertise in the discovery of
diagnostic platforms leveraging a vast portfolio of intellectual
property, QuantRx's mission is to introduce products for use by its
medical laboratory and consumers that deliver more accurate,
reliable, and cost-effective diagnoses which result in improved
patient care and a reduction in overall healthcare costs. The
Company's technology portfolio, with more than a dozen patents,
patents pending and licensed patents, includes: PAD technology for
over-the-counter applications, and the diagnosis and treatment of
women's health concerns and other medical needs, and significant
investments in genome-based diagnostic chips for the laboratory and
healthcare professional markets, addressing significant unmet
medical needs by providing clinicians with important tools for
early discovery and assessment.
This release may contain forward-looking statements within
the meaning of the federal securities laws. Such forward-looking
statements reflect, among other things, management's current
expectations, management's current plans and strategies, and
anticipated financial results, all of which are subject to known
and unknown risks, uncertainties and factors that may cause our
actual results to differ materially from those expressed or implied
by these forward-looking statements. Many of these risks are beyond
our ability to control or predict including; general economic
conditions, the Company's need for additional funds, the early
state of the products the Company is developing, uncertainties
relating to clinical trials and regulatory reviews, competition and
dependence on collaborative partners, the Company's ability to
avoid infringement of the patent rights of others, and the
Company's ability to obtain adequate patent protection and to
enforce these rights. Because of these risks, uncertainties and
assumptions, you should not place undue reliance on these
forward-looking statements. Furthermore, forward-looking statements
speak only as of the date they are made. QuantRx does not undertake
any obligation to update or review any such forward-looking
information, whether as a result of new information, future events
or otherwise.
CONTACT:
Dr. William Fleming
Chief Scientific Officer
QuantRx Biomedical Corporation
wfleming@quantrx.com
Tel. 305-740-4465
SOURCE QuantRx Biomedical