Corgenix, Genesis Bioventures collaborate to develop, commercialize breast cancer test.(Brief Article)

2002 AUG 8 - (NewsRx.com & NewsRx.net) -- Corgenix Medical Corporation (CONX) announced the establishment of a major strategic collaboration with Genesis Bioventures, Inc., (GBI) to develop, in ELISA format, products from GBI's patented Mammastatin Serum Assay (MSA) for breast cancer risk assessment. JPS Capital Corporation provided financial consulting services to Genesis and helped to facilitate the partnership.

The terms of the collaboration, including financial considerations, were withheld pending completion of a formal agreement, which is expected to occur within the next 30 days. Corgenix will develop the new products using Corgenix ELISA (enzyme linked immunosorbent assay) technology. This collaboration marks the first significant agreement between Corgenix and a cancer diagnostic company and supports Corgenix's recent decision to dramatically broaden its business strategy.

Mammastatin is a protein that has been found to be present in the breast tissue of healthy women. It has been detected in the blood of over 85% of healthy women and absent in the blood of over 90% of breast cancer patients. Research has also demonstrated that the concentration of Mammastatin not only drops significantly in women with breast cancer but also in women at high risk for breast cancer. Corgenix will immediately proceed to develop a simple blood diagnostic test, in ELISA format, to detect the level of Mammastatin for the purpose of measuring a woman's risk of developing breast cancer.

Douglass Simpson, president and chief operating officer of Corgenix ...