MISSISSAUGA, Ontario, Aug. 18 /PRNewswire-FirstCall/ — Dr.
Yahia Gawad, CEO of CardioGenics Inc. (OTC Bulletin Board:
CGNH), developer of the ultra-sensitive QL Care™
Point-Of-Care (POC) analyzer and products for the immunoassay
segment of the In-Vitro Diagnostics market, took part in an
interview on Canada’s Business News Network (BNN) on Monday, August
16th to discuss the market potential and technical advantages of
the Company’s paramagnetic beads and QL Care Analyzer™.
On the BNN program “After Hours,” Andrew Bell visited Dr. Gawad
at CardioGenics’ office in Mississauga and spoke with him about how
the Company’s technology makes it possible to speed up diagnostic
tests for heart attack and other conditions. Dr. Gawad explained
how the Company’s silver-coated paramagnetic beads represent a
sizeable advantage in testing sensitivity and will allow
CardioGenics to become a significant player in a market estimated
at more than $1 billion. He also outlined the Company’s
distribution agreement of the beads with Merck, which will begin
commercial shipments of the CardioGenics beads in September 2010.
Additionally, Dr. Gawad described the operation of the QL Care
Analyzer™, the Company’s Point-Of-Care immunoassay platform
that will allow a heart attack diagnosis to be made in as little as
15 minutes vs. the national average of 2.8 hours required for
testing results from a central lab. Dr. Gawad expects to submit to
the FDA a 510K application for the QL Care Analyzer™ (and its
first cardiac test, Troponin-I) during Q1 2011 and to have both
commercialized by Q2 2011.
“It was an honor to talk with Andrew on BNN,” said Dr. Gawad.
“Media attention like this is good for us as our business continues
to grow. As I mentioned during the interview, CardioGenics’
technology has the potential to save the lives of those who have
experienced heart attacks and othe