MISSISSAUGA, Ontario, Aug. 18 /PRNewswire-FirstCall/ -- Dr. Yahia Gawad, CEO of CardioGenics Inc. (OTC Bulletin Board: CGNH), developer of the ultra-sensitive QL Care™ Point-Of-Care (POC) analyzer and products for the immunoassay segment of the In-Vitro Diagnostics market, took part in an interview on Canada's Business News Network (BNN) on Monday, August 16th to discuss the market potential and technical advantages of the Company's paramagnetic beads and QL Care Analyzer™.
On the BNN program "After Hours," Andrew Bell visited Dr. Gawad at CardioGenics' office in Mississauga and spoke with him about how the Company's technology makes it possible to speed up diagnostic tests for heart attack and other conditions. Dr. Gawad explained how the Company's silver-coated paramagnetic beads represent a sizeable advantage in testing sensitivity and will allow CardioGenics to become a significant player in a market estimated at more than $1 billion. He also outlined the Company's distribution agreement of the beads with Merck, which will begin commercial shipments of the CardioGenics beads in September 2010. Additionally, Dr. Gawad described the operation of the QL Care Analyzer™, the Company's Point-Of-Care immunoassay platform that will allow a heart attack diagnosis to be made in as little as 15 minutes vs. the national average of 2.8 hours required for testing results from a central lab. Dr. Gawad expects to submit to the FDA a 510K application for the QL Care Analyzer™ (and its first cardiac test, Troponin-I) during Q1 2011 and to have both commercialized by Q2 2011.
"It was an honor to talk with Andrew on BNN," said Dr. Gawad. "Media attention like this is good for us as our business continues to grow. As I mentioned during the interview, CardioGenics' technology has the potential to save the lives of those who have experienced heart attacks and othe