IRVINE, CA--(Marketwired - March 14, 2016) - Biomerica Inc. (OTCBB: BMRA) announced that the International Search Authority (ISA) has deemed that all its International Patent Application claims for its composition and methods to identify trigger foods for Irritable Bowel Syndrome (IBS) are novel and non-obvious. The patent application seeks to protect its new product that identifies patient-specific trigger foods that may exacerbate IBS symptoms. Biomerica is developing both professional use and point-of-care versions of this novel product that already has a CPT reimbursement code. The point-of-care version is a simple blood test that can be performed in the physician's office.
It is estimated that over 45 million Americans suffer from IBS. If approved by the FDA, the product would be the only cleared diagnostic guided identification of IBS trigger foods.
Biomerica has already attracted the key opinion leaders in the field. Dr. Charles Carter, who was Executive Director of Medical Affairs at Salix Pharmaceuticals and active in managing the success of Xifaxan® receiving FDA clearance has joined our team. He is now assisting Biomerica in managing the clinical process for attaining FDA clearance for this novel product.
"We believe these patents will create a broad barrier to entry preventing other companies from entering the market," said Zackary Irani, Biomerica CEO. "We are very excited about the prospects of this product in the IBS market. The ability to manage the symptoms of the disease by changing diet could help to decrease suffering among tens of millions of people around the world."
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 on products for Gastrointestinal Disease, Diabetes 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, sales potential, significant benefits, market size, prospects, new products, favorable outlook, new distributors, expansion, increases in productivity and margins, expected orders, leading market positions, anticipated future sales or production volume of the Company, the launch or 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.