LOS ANGELES, CALIFORNIA, May 31, 2014 – Sensor-Kinesis Corporation (SKC) announced that its parent company Pharmaco-Kinesis Corporation (PKC) has been awarded a grant by the U.S. Department of Defense (DoD) for development of its “Carbon Nanotube Based Biosensor for Organ Injury Detection”. SKC’s biosensor technology was competitively selected for the Phase I grant award, totaling $150,000, under the Small Business Innovation Research (SBIR) program of the DoD Defense Health Program (DHP).
This highly competitive and prestigious award will support the expansion of SKC’s biosensor technology. In specific, SKC is refining the ability of the biosensor to detect kidney and liver biomarkers, such as albumin and glutathione-S-transferase, in urine and blood which can be the first sign of organ disease. Since organ failure outcome has been shown to correlate closely with timely diagnosis, this technology can be vital for individuals at risk for kidney and liver injury. Patients suffering from diabetes, and cancer patients undergoing chemotherapy treatments, for example, can benefit from timely diagnosis of organ failure that the device can detect. The SBIR grant, which is subject to the availability of U.S. Government funds, was made to PKC after a thorough review process by the DoD.
“The company has demonstrated proof-of-concept of the biosensor technology in detecting cancer biomarkers, and we now look to expand this technology into the portable point-of-care diagnostic market with capability for data to link to cloud,” said Frank Adell, CEO of SKC. “Our biosensor technology platform is expected to bring a fundamental transformation in the way disease is detected in the body. SKC’s biomarker technology will allow patients and physicians to detect acute organ failure at a very early stage. This means the patient could have greater lead times for treatment, resulting in improved and potentially lifesaving outcomes. Eventually, we envision an at-home diagnostic tool that can be used be used to screen blood and/or urine samples against a panel of biomarkers. This device could detect acute organ injury for multiple organ systems in the body simultaneously. We believe that SKC’s innovation in biosensors can have far reaching implications for detection and treatment of disease while reducing the cost of health care. We’re very pleased that the DHP and DoD have elected to support this potentially breakthrough nanotechnology under development at SKC.”
Mr. Adell noted that upon successful completion of the Phase I work, the company will be eligible to submit for a Phase II grant of up to $1 million.
“SKC is committed to making the high quality U.S. standard of care affordable to Americans from all walks of life, and indeed to people throughout the world. Innovation in technology can help make our healthcare system affordable through early detection of disease, potentially keeping people away from the inpatient hospital setting. SKC is among the companies that are pioneering this concept through our innovative and inexpensive point-of-care diagnostic devices for home use. We expect the biosensor technology platform of SKC to open new doors for patients in detection and treatment acute failure of multiple organ systems in the body. We believe by providing an early warning of acute organ injury, this device will ultimately decrease morbidity and increase the quality of life of patients at risk for organ failure, while saving our healthcare system a significant amount of resources,” Mr. Adell concluded.
Sensor-Kinesis Corp. is the manufacturer and developer of an advanced biosensor micro-chip technology that has created a paradigm shift in the ability to detect air- and food-borne pathogens, infectious diseases and early-stage cancers faster, more accurately and with substantially lower cost than has ever been possible before. As a result, Sensor-Kinesis’ proprietary innovations allow physicians, health and safety organizations and individuals an ability to detect diseases and other detractors to our health and well-being at the earliest stage possible.
This news release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of the management of Sensor-Kinesis Corporation and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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