MISSISSAUGA, Ontario, May 27 /PRNewswire-FirstCall/ —
CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH), developer of
the ultra-sensitive QL Care™ Point-Of-Care analyzer and
products for the immunoassay segment of the In-Vitro Diagnostics
(IVD) market, announced today a further update regarding the status
of its agreement with Merck Chimie S.A.S. (“Merck Chimie”), one of
the largest manufacturers and distributors of magnetic beads for
the diagnostics market.
This week the Company received from Merck Chimie a second
shipment of CardioGenics’ proprietary silver-plated magnetic beads
(the “CardioGenics Beads”) encapsulated by Merck Chimie and will
begin bench testing those beads this week. This shipment includes
10 different sets of the CardioGenics Beads, encapsulated by
several processes by Merck Chimie. The testing process determines
the chemical stability and biological compatibility of the
encapsulated beads. After completing the testing of the
encapsulated beads of this shipment, the Company will review the
testing results with Merck Chimie. If the parties determine that no
further technical adjustments are necessary to the encapsulation
process, the Company and Merck Chimie intend to finalize
commercialization plans by which Merck Chimie would increase
production of the final encapsulated CardioGenics Beads to
commercial size lots for distribution to Merck Chimie’s
customers.
In the Company’s prior announcement on this matter, the Company
noted that, after analyzing the first shipment of the CardioGenics
Beads that were encapsulated by Merck Chimie, both parties agreed
that Merck Chimie would undertake certain technical adjustments to
the encapsulation process to optimize performance of the
CardioGenics Beads during commercialization and then deliver to the
Company a second shipment of encapsulated Cardi
‘/>”/>
SOURCE