PORTLAND, Ore., July 14, 2011 /PRNewswire/ -- QuantRx® Biomedical Corporation (OTCQB:QTXB), an emerging leader in the development and commercialization of innovative diagnostic products based on its patented technology platforms, is pleased to announce that following the successful resolution and full settlement of all matters related to the QN Joint Venture as disclosed in a Form 8-K filed with the SEC on July 8, 2011, the Company is currently implementing a go to market strategy for its market ready over-the-counter (OTC) healthcare products.
Further, the Company plans to initiate a clinical study to confirm an innovative, and potentially practice changing, approach to fetal genomic diagnostics using its patented PadKit technology. These clinical investigations will be done in collaboration with GMSBIOTECH, with initial data anticipated to be generated prior to year end.
Dr. Shalom Hirschman, Chairman and CEO, stated, "The company is developing strategic plans to bring products to market as quickly as possible. Our OTC pads for daily feminine hygiene and intergluteal pads for the temporary relief of hemorrhoids will be the focus of the initial commercialization effort."
Further, Dr, William Fleming, Chief Scientific Officer, stated, "We are committed to building shareholder value by capitalizing on our innovative patented diagnostic technologies, particularly our genomic-based diagnostic technology targeting the monitoring of recurring cancers and serious fetal genomic disease and health conditions."
About QuantRx Biomedical
QuantRx Biomedical Corporation (OTCQB: QTXB) is focused on the development and commercialization of innovative over-the-counter and genomic products for advanced diagnosis of serious disease and health conditions. With synergistic expertise in the discovery of diagnostic platforms leveraging a vast portfolio of intellectual property, QuantRx's mission is to introduce products for use by its