IRVINE, CA -- (Marketwired) -- 01/14/15 -- Biomerica, Inc. (OTCBB: BMRA), a global provider of advanced diagnostic products for the early detection of medical conditions, announced today that it has filed a first set of patent applications with the U.S. Patent and Trademark Office for a new test intended to aid in the treatment of a specific gastrointestinal disorder.
This new technology tests selected foods as possible triggers for causing specific gastroenterology symptoms. Numerous aspects of the new technology are now patent pending. It is estimated that up to 58 million Americans suffer from the gastroenterology issues in one form or another that could potentially be helped by this new technology.
"This technology places Biomerica in a unique position to help physicians and patients in the $20+ billion U.S. testing and treatment market for this disorder," stated Zackary Irani, Biomerica's CEO. We are very excited about the prospect for this product and possibilities of providing relief for patients in this very large market. In addition to filing for patent protection, Biomerica is also exploring the possibility of regulatory approval in the U.S."
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices ) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance the health and well being of people, while reducing total healthcare costs. Biomerica primarily focuses is on products for Diabetes, Gastrointestinal Disease and esoteric testing.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, expected improvements in performance, new distribution, expected product introductions, belief that new strategies will yield higher sales and margins, sales potential, market size, growth of business, positive outlook, expansion, expected orders, leading market positions, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.