2009-12-03 19:59:55 -

Biomagnetics Diagnostics Corp., (Pink Sheets: BMGP : ) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection today announced it has acquired additional intellectual property rights from Los Alamos National Security. The Company intends to utilize this intellectual property for the development of a revolutionary integrated optical biosensor capable of screening blood donors for HIV/AIDS, hepatitis and tuberculosis in a single test at the point of collection.

The technology, originally developed at Los Alamos National Laboratory is for the “Quantitative Multiplex Detection of Pathogen Biomarkers” and is protected through a U.S. patent application filed in October 2009.

When utilized with the Integrated Optical Biosensor System (IBOS) licensed by the Company from Los Alamos National

Security, this technology is capable of detecting multiple pathogens from a single blood sample. Importantly, Biomagnetics Diagnostics plans to integrate these technologies into a handheld blood diagnostic device that can be utilized by relatively unskilled personnel to screen potential blood donors for various pathogens at the point of collection.

“While we will initially be targeting the lucrative single test markets for malaria and both human and bovine tuberculosis, we believe a much more extensive market exists for a fast, easy to use, handheld diagnostic device that blood banks can use to screen potential donors prior to collection,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “Screening for pathogens is one of the biggest costs for all blood banks and considering the vast majority of blood banks worldwide operate at a significant loss, we believe there will be significant interest in this revolutionary technology. We believe we will be able to bring this technology to market relatively quickly as all of the technological pieces already exist. We all are already working with one of the leading technology instrument and product development firms in Silicon Valley on the production specifications.

Additionally, we have signed a contract with Los Alamos National Security that allows us access to some of the top scientists in the world who will assist us in our final product development. It is clearly an exciting time for all of us at Biomagnetics Diagnostics as we continue to enhance shareholder value and work toward bringing these revolutionary diagnostic devices to market. Please join us later today on our conference call as we discuss our plans.”


The call, which will be open to all investors, will be held on Thursday, December 3rd at 4:30 EST. Interested parties may dial into the Biomagnetics Diagnostics Corp. conference call using the toll free dial-in number (US & Canada) of (877) 274-7449 or the local/international dial-in number of (763) 488-8345. The conference ID number to access the call is 45166038. (The call, previously scheduled for today, Wednesday December 2nd, was rescheduled for tomorrow, Thursday December 3rd, when an apparent attempt by National Public Radio (NPR) to cover and record the Biomagnetics Diagnostics Corp. conference call caused technical difficulties.)

The Company recently announced on November 30 th that it has finalized a “Patent License Agreement with Los Alamos National Security.” Under the agreement, Biomagnetics will have access to the Triggered Optical Biosensor and Integrated Optical Biosensor System (IBOS) technology developed at Los Alamos National Laboratory.



About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company’s revolutionary diagnostic systems, which are based on advanced magnetic and optics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. More information on Biomagnetics Diagnostics Corp. can be seen at www.BiomagneticsBMGP.com : .



Biomagnetics Diagnostics Corp.Joe Noel, 925-922-2560