Biomerica Receives Notice of Allowance for Irritable Bowel Syndrome (IBS) Test Panel and Methods in Korea
Irvine, California -- August 02, 2018 -- Biomerica, Inc. (Nasdaq: BMRA) announced today that the Korean Intellectual Property Office (KIPO) has issued a Notice of Allowance for a patent application covering Biomerica's compositions, devices and methods of IBS sensitivity testing. The patent is expected to issue before September 2018.
The patent application specifically applies to Biomerica's InFoods IBS product, which is currently in a clinical study in the U.S. This patent would be the first for the InFoods patent portfolio, providing patent protection for InFoodsIBS in Korea until 2035.
It is estimated that over 45 million Americans are affected by Irritable Bowel Syndrome (IBS). The total cost (direct + indirect) of IBS has been estimated at $30 billion annually in the United States. IBS is a common condition that can substantially impair patient well-being and a person’s ability to function both at home and in the workplace.
The InFoods IBS diagnostic guided therapy (DGT) is designed to allow physicians to identify patient specific foods (e.g. pork, milk, onions, sugar, chickpeas, etc.), that when removed, may alleviate or improve an individual's IBS symptoms including but not limited to constipation, diarrhea, bloating, pain and indigestion. The InFoods IBS point-of-care product is being developed to allow physicians to perform the test in-office using a finger stick blood sample while a clinical lab version of the product is being used in the current clinical study. A billable CPT code that can be used by both clinical labs and physicians' offices is already available for InFoods IBS products. Market research conducted by a leading independent pharmaceutical marketing research firm determined that seventy percent (70 %) of physicians surveyed would use the InFoods DGT for IBS.
Importantly, the InFoods DGT can be used either without or in conjunction with current pharmacotherapy to potentially improve patient outcomes. Since the InFoods® IBS product is a diagnostic guided therapy and not a drug, it has no drug type side effects.
The current InFoods IBS clinical study is being conducted at Beth Israel Deaconess Medical Center Inc., a Harvard Medical School Teaching Hospital, and at the University of Michigan. The study will stratify enrollment by the three main IBS subclasses (IBS-Constipation, IBS-Diarrhea and IBS-Mixed). There is no FDA cleared therapy for IBS-Mixed at the present time, creating the possibility for the InFoods DGT to penetrate a significantly unaddressed segment of the IBS market.
"We are excited about allowance of our first patent for our InFoods technology" stated Zackary Irani, CEO of Biomerica. "The data from the current InFoods IBS clinical study is expected to be forthcoming prior to August 2019 and we are excited about the response thus far."
About Biomerica (NASDAQ: 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.
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