Three new assays to be added to the five assays currently under development
ANN ARBOR, Mich., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) announced today that it has agreed with its development partner Qorvo Biotechnologies, LLC, a wholly owned subsidiary of Qorvo US, Inc., to develop three new assays -- Cobalamin, cPL (canine Pancreatic Lipase), and Folate -- to target diagnosis of canine gastrointestinal issues. The new assays are in addition to the initial five assays currently under development, including panels for adrenal and thyroid testing, for TRUFORMA™, Zomedica's point-of-care veterinary diagnostic platform. The agreement to pursue development of the new assays has triggered the final $2 million milestone payment under Zomedica’s Development and Supply Agreement with Qorvo.
“Our intent for TRUFORMA™ always has been to have it serve as a broad diagnostic point-of-care tool for dogs and cats and to continue to expand the diagnostic offerings available on the platform," said Robert Cohen, Interim Chief Executive Officer of Zomedica. "We believe that the combination of the Cobalamin, cPL and Folate assays will enable veterinarians to use TRUFORMA to conduct a thorough testing panel to diagnose dogs in gastrointestinal distress."
If successfully developed, the Cobalamin, cPL, and Folate assays will represent what the Company believes is the first non-infectious gastrointestinal panel optimized for use in canines fully available at the point-of-care to facilitate rapid diagnosis of gastrointestinal disorders. Evaluation of the health of different components of the gastrointestinal system is necessary to identify the cause of clinical symptoms. This panel is intended to assay the function of the pancreas, proximal small intestine, and distal small intestine. The Company believes that the ability to conduct testing at the point-of-care will facilitate real-time clinical decision-making, reduce in-patient clinic stay, promote earlier detection and treatment, and increase pet owner satisfaction.
According to a DVM360 study*, ASPCA Pet Insurance, Embrace, Nationwide, Pets Best and Trupanion agree that “GI condition” is the most common insurance claim for dogs. Signs of digestive system disease can include excessive drooling, diarrhea, constipation, vomiting or regurgitation, loss of appetite, bleeding, abdominal pain and bloating, straining to defecate, shock, and dehydration. The TRUFORMA diagnostic device, which is smaller than a desktop printer, is anticipated to provide highly sensitive, species-specific assays using Qorvo’s proprietary, non-optical Bulk Acoustic Wave ("BAW") sensor technology. The BAW sensor is a proven semiconductor technology used in telecommunications and aerospace markets. The Company believes that BAW technology has the potential to improve veterinary diagnostics by delivering reference laboratory accuracy and test performance to the veterinary clinic at the point-of-care.
Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary health company creating products for companion animals (canine, feline and equine) by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include innovative diagnostics and therapeutics that emphasize patient health and practice health. With a team that includes clinical veterinary professionals, it is Zomedica’s mission to provide veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
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