This may have something to do with the "buy" recommendation.
Maggi Davis
Company Press Release
Source: BIOMERICA INC.
BIOMERICA Signs an Agreement With BioChem ImmunoSystems
NEWPORT BEACH, Calif., Sept. 11 /PRNewswire/ -- BIOMERICA, INC. (Nasdaq:BMRA) announced today that it has entered into an agreement with BioChem ImmunoSystems under which BioChem ImmunoSystems will market Biomerica's Allerquant(TM) 90G throughout Europe, Asia, Canada, Latin America and Mexico following receipt of appropriate import authorization from relevant foreign authorities. Allerquant(TM) 90G is an allergy test designed to simultaneously detect ninety specific food allergens. BioChem ImmunoSystems, Inc., is a U.S. subsidiary of BioChem Pharma, Inc. (Nasdaq: BCHE, Montreal Exchange, Toronto Stock Exchange: BCH).
The Allerquant(TM) 90G is designed to detect if a patient is allergic to one or more of ninety different foods. Food allergies are the end result of a series of complex reactions of ingested food antigens passing through the digestive tract. IgG allergic reactions are delayed and can be very distressing for a patient, and difficult to diagnose because many of the same symptoms mimic other illnesses. The diagnosis and treatment of food allergens are directed towards the identification and removal of the offending dietary foods. Therefore, avoidance of the implicated food usually offers relief from the symptoms. The product will only be sold internationally since it has not been cleared for sale in the U.S. by the Food and Drug Administration.
Based in Montreal, BioChem ImmunoSystems is a Canadian research and development organization specializing in the manufacture of diagnostic products. With the support of its parent company, BioChem Pharma, Inc., one of the largest emerging biopharmaceutical companies in North America, BioChem ImmunoSystems has rapidly grown to become a major international player in the diagnostics field. Today BioChem ImmunoSystems distributes products in over 70 countries. BioChem ImmunoSystems and Biomerica will cooperate to sell the Allerquant(TM) 90G test outside of the U.S. Mr. Zackary Irani, CEO of Biomerica, stated, ``We are excited about the potential for the BioChem ImmunoSystems and Biomerica's cooperation. Clinical laboratories outside of the, U.S. will now have a way to fully automate their ELISA testing for IgG mediated allergies.''
The worldwide market potential for the diagnosis and treatment of all allergies has been estimated at $12 billion. With preventative healthcare becoming more common and important, the interest in delayed allergies to various foods is becoming popular with healthcare professionals.
For over 25 years, BIOMERICA has been developing, manufacturing, and marketing advanced medical diagnostic for clinical labs, physician offices and home self-testing.
This press release contains forward looking information that is based on current expectations and therefore it necessarily involves risk and uncertainties. Although the Company believes that the basis for the forward looking statements are reasonable, there can be no assurance that the results anticipated in the forward looking statements will be realized. Many factors could cause the results contemplated and therefore there is no assurance that the company's products will become commercially successful.
SOURCE: BIOMERICA INC.
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More news for referenced ticker symbols: BCHE, BMRA, and related industries: medical.
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