Zenosense, Inc. (OTCQB: ZENO) ("Zenosense", the "Company"), a healthcare technology company primarily focused on developing and marketing a device to detect the MRSA "Super-Bug," is pleased to announce that it has expanded its development operations to include a device intended to detect lung cancer in exhaled breath.
Full details are given on the Company's Form 8K filed on July 24, 2014.
Zenosense has agreed with its existing MRSA device development partner, Sgenia, to immediately commence work on the development of a Lung Cancer ("LC Device") in parallel with the MRSA device. Similar technology and detection principles used in the MRSA device (under development since December, 2013) will be applied. A revised budget for both developments calls for an estimated $1,411,000 in addition to the approximately $527,000 that has been applied to date.
Lung cancer is the leading cause of cancer death in the US. A low five-year survival rate of 16% is due primarily to late-stage diagnosis. Surgery is often curative if the cancer is diagnosed early (stages I and II) but only 30% of non-small cell lung cancer (most lung cancer instances) are made at these early stages. Lung cancer is not simple to diagnose and several types of tests are available to help in this. Typically, a physician suspecting lung cancer in a symptomatic patient may, amongst other confirmatory tests, refer the patient for an expensive Tomography scan, followed by biopsy for definitive confirmation if a scan is indicative of lung cancer.
The Company believes a vast global opportunity exists for a LC Device for use at the point of care at a fraction of the cost of a Tomography scan. Zenosense believes a LC Device matching or exceeding the accuracy of a Tomography scan, while also being affordable in the basic primary care setting (such as a family physician), would be in universal demand as a complimentary, indicative test. Universal screening during symptomatic examinations and regular health check-ups would greatly increase the chance of early detection of lung cancer prior to referral for additional tests and a definitive biopsy if required, which is critical to achieving the best clinical outcome.
Both the prospective LC and MRSA devices target the detection of certain volatile organic compounds ("VOCs") present in the breath of affected patients. A substantial amount of work has already been undertaken on the MRSA device. The Company is satisfied that the development team of experts in nanotechnology, sensors, high-level mathematics, molecular biology and biochemistry is well placed to deliver these devices. Furthermore, the Sgenia patent pending sensor technology provides the potential to manufacture these devices using standard components and consequently offer them at a lower cost.
Collaboration and partnerships are in place with hospitals, universities and a private laboratory in the fields of sensors, polymer electrochemistry, microbiology, infectious disease, pneumology, chromatography and microorganism identification. Sgenia is also in advanced discussions regarding a formal collaboration with a prestigious hospital in Madrid. This hospital has conducted substantial trials on cancer VOCs and holds significant data directly applicable to the development of a LC Device.
About Zenosense, Inc.
Zenosense, Inc. is a detection device development company based in Valencia, Spain. Its mission is develop, market and sell an effective MRSA detector, by way of licenced-in technology, for sale to healthcare providers for use in clinical settings. The Company believes there is enormous latent demand for a cost-effective MRSA detector, driven by the costs associated with the late detection of MRSA, and that it has identified a valuable new market segment for a wearable detection device. The development and exclusive license agreement also includes cancer sensory devices.
Find out more at www.zenosense.net
Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 filed on filed on March 26, 2014, and in Company reports filed subsequently thereto. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Statements concerning the development of the MRSA detector have been made based on information obtained from Zenon Biosystem, which the Company believes to be accurate, but have not been independently verified.
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