Product for liver disease now commercialized in Europe
DENVER, COLORADO — February 15, 2012 — Corgenix Medical Corporation (OTCBB:CONX.OB), a worldwide developer and marketer of diagnostic test kits, announced today its second generation Hyaluronic Acid (HA) Immmunoturbidimetric Test Kit for use on automated chemistry analyzers has received CE marking for commercialization in Europe. The new product is the second Corgenix product for measuring blood levels of hyaluronic acid to assess the degree of liver fibrosis and cirrhosis in chronic liver disease. The first Corgenix product is configured as an ELISA microplate and has been commercialized worldwide since 1998.
“The CE marking of our automated HA product reaffirms our market leadership position in non-invasive biomarkers for assessing chronic liver disease and allows us to commercialize the product in Europe through our distribution partner ELITech,” said Corgenix President and CEO Douglass Simpson. “We have a very active development program with ELITech and over the next few years will be bringing additional new and exciting products to the world markets.”
In 2010 Corgenix and ELITech entered into the Joint Product Development Agreement, a strategic alliance to co-develop new diagnostic tests. The automated HA product was the first product released as a result of that collaboration. It is now available worldwide, including Europe, through ELITech; in the U.S. it will be available for research purposes only through Corgenix.
In all countries where the use of this product has not been cleared by local regulating agencies, the product shall not be used for diagnostic purposes. None of the Corgenix Hyaluronic Acid products are FDA cleared for diagnostic use in the U.S.
About Corgenix Medical Corporation
Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world’s only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network. More information is available at www.corgenix.com
About the ELITech Group
The ELITech Group is a privately held group of worldwide manufacturers and distributors of in vitro diagnostic equipment and reagents. By bringing together IVD specialty companies that offer innovative products and solutions, ELITech Group has become a major contributor in advancing clinical diagnostics to laboratories in the proximity market, those operating closer to the patient. The ELITech Group manufactures and distributes diagnostic products for clinical chemistry, microbiology, immunology, and molecular biology though direct sales and a distribution network encompassing more than 100 countries. More information is available at www.elitechgroup.com
Statements in this press release that are not strictly historical facts are “forward-looking” statements (identified by the words “believe”, “estimate”, “project”, “expect” or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company’s products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Corgenix Medical Corp.
William Critchfield, Senior VP Operations and Finance and CFO
Armada Medical Marketing
Dan Snyders, Vice President and Public Relations Supervisor
Phone: 303-623-1190 x230