BioMark Receives $825K Grant to Develop Its Liquid Biopsy Assay for Lung Cancer Screening

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Vancouver, British Columbia--(Newsfile Corp. - June 1, 2021) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark") is pleased to announce today that its wholly-owned subsidiary BioMark Diagnostic Solutions Inc. ("BDS") received funding to develop an early-stage lung cancer screening assay using BioMark's proprietary liquid biopsy platform. The total sponsored research grant is about $825,000 and a major portion of the funding is being provided by the Consortium for Industrial Research and Innovation in Medical Technology (MEDTEQ+) and Spark grant from the Canadian Cancer Society (CCS, grant # 707073), the Canadian Institutes of Health Research - Institute of Cancer Research (CIHR-ICR, grant # 0590008438), and Brain Canada Foundation.

This initiative entitled "A Pan Canadian initiative for the development of a liquid biopsy assay for lung cancer screening" is being led by Dr. Philippe Joubert and a team of leading clinicians, academic researchers, and data scientists. The grant is part of a two-year initiative through which BioMark, in collaboration with Phytronix Technologies Inc. ("Phytronix"), and researchers from the Institut Universitaire de Cardiologie et de Pneumologie de Québec - Université Laval (IUCPQ-UL), the Metabolomics Innovation Centre (TMIC), Saint-Boniface Research Center and the CHU de Québec - Université Laval, will be validating the firm's liquid biopsy platform and proprietary biomarker panel for the detection of early-stage lung cancer in over 1200 individual samples coming from the IUCPQ 's Quebec Respiratory Health Research Network site. The overarching goal is to develop a low-cost, high-throughput test that will make early-stage lung cancer screening feasible and affordable for at-risk population. The large sample size will help include important clinical parameters and identify additional metabolites that might be incorporated in the assay to further improve the test specificity.

"This is an important project for BioMark as it gears up for the introduction of lung cancer biomarkers that can be incorporated into a screening program across Canada, beginning in Quebec, and later globally. The teams are formed around a vibrant cluster which focus on validation and accelerated translation of the outcome to enable physicians have better access to diagnostic tools designed to positively impact cancer care management. This cross pollination of team members will mitigate scientific risks and ultimately drive clinical adoption required for commercialization," says BioMark's CEO Rashid Ahmed Bux. In addition, Rashid Ahmed Bux states that BioMark is also working on other sponsored research studies in Quebec that will be important and integrative with its long-term strategy related to early diagnosis of lung cancer.

"MEDTEQ+ welcomes this research project since it has the potential to deliver on the great potential of real personalized medicine for the benefit of the patient, their families and public and private payors across the globe. We are delighted to financially support this innovative project through our Impact program, funded by the Ministry of Economy and Innovation of Quebec (MEI)," said Diane Côté, President and Chief Executive Officer of MEDTEQ+.

About Phytronix Technologies Inc.

Phytronix Technologies Inc. is a privately-owned company based in Québec City, Canada, and was founded in 2000. Phytronix invented and patented the Laser Diode Thermal Desorption (LDTD) technology for mass spectrometry. The company introduced the Luxon Ion Source®, which is the second-generation apparatus based on the patented-LDTD® technology and currently the fastest technology for mass spectrometry. This innovative technology enables ultra-high-speed analysis in less than 4 seconds per sample. The company will provide the optimized internal standards that are necessary for use in clinical settings, along with technical expertise required with high-throughput mass spectrometry.

About MEDTEQ+

MEDTEQ+ (www.medteq.ca) is the pan-Canadian Consortium for Industrial Research and Innovation in Medical Technology. Its mission is to accelerate the development of innovative technological solutions to improve patients' health and quality of life. MEDTEQ+ supports their validation and integration in the healthcare system and their impact, both locally and globally, by bringing together the complementary skills of industrial and academic partners, and with those of healthcare providers. MEDTEQ+ relies on the financial support of the Government of Quebec, the Government of Canada (delivered through the Centres of Excellence for Commercialization and Research (CECR)), the private sector and complementary partners to foster research-industry relations.

About Sparks Grant.

The Canadian Cancer Society (CCS), the Canadian Institutes of Health Research - Institute of Cancer Research (CIHR-ICR), and Brain Canada Foundation (BC) have committed a total of $150K for Novel Technology Applications in Cancer Prevention and Early Detection. Spark Grants will support the development of new partnerships and the exploration of highly novel concepts, involving researchers from any research area, and particularly from non-traditional cancer fields, such as engineering, AI, robotics, physics, nanoscience, statistics, informatics, computer and data sciences, behavioural science, and any other discipline poised to seed the next generation of disruptive technologies in cancer control. BioMark would like to thank all the supporting agencies for their support (CCS grant # 707073/CIHR-IRSC grant # 0590008438) will acknowledge them in publications or events related to the use of the funds.

About BioMark Diagnostics Inc.

BioMark is developing proprietary, non-invasive, and accurate cancer diagnostic solutions which can help detect, monitor, and assess treatment for cancer early and cost-effectively. The technology can also be used for measuring response to treatment and potentially for serial monitoring of cancer survivors.

Further information about BioMark is available under its profile on the SEDAR website www.sedar.com and on the CSE website https://thecse.com/.

For further information on BioMark, please Contact:

Rashid Ahmed Bux
President & CEO
BioMark Diagnostics Inc.
Tel. 604-370-0779
Email: [email protected]

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.

The CSE has not reviewed, approved, or disapproved the content of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85945

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