Biomerica and Leading UAE Healthcare Company Forge a Path to Enhanced Colorectal and Breast Screening with Exclusive Multi-Year Distribution Agreement

Rhea-AI Summary

Biomerica Inc. (Nasdaq: BMRA) announced an exclusive distribution agreement with a UAE healthcare conglomerate for their at-home screening products, EZ Detect™ for colorectal cancer and Aware® for breast exams. The Dubai Healthcare Authority approved insurance reimbursement for EZ Detect™, enhancing accessibility. The partnership aims to integrate these tests into national health protocols, with potential for introduction of more Biomerica products in the UAE. EZ Detect™ simplifies colorectal screening by detecting occult blood in stool, revolutionizing at-home testing. Aware® increases tactile sensitivity during breast self-exams, important for early breast cancer detection. The collaboration signifies a step towards proactive health management in the Middle East, with a focus on reducing the burden of cancer through early detection.

Positive

• Exclusive distribution agreement with a UAE healthcare conglomerate for at-home screening products EZ Detect™ and Aware®.

• Dubai Healthcare Authority granted insurance reimbursement for EZ Detect™, boosting accessibility.

• Strategic partnership to integrate tests into national health protocols and potentially introduce more Biomerica products in the UAE.

• EZ Detect™ simplifies colorectal screening through a user-friendly at-home test, increasing adoption rates for early detection.

• Aware® enhances tactile sensitivity during breast self-exams, important for early breast cancer detection in women without family history.

• Collaboration signifies a shift towards proactive health management in the Middle East, supporting early cancer detection.

Negative

• None.

• Dubai Healthcare Authority Granted Insurance Reimbursement for Biomerica’s EZ Detect™ Colon Disease Screening Test

• EZ Detect™ is a simple FDA cleared 2-minute at-home test that detects early warning signs of colorectal cancer, the third most common cancer worldwide
  
• Aware® is an FDA cleared simple at-home device clinically tested to increase sensitivity in breast self-exams; about 80% of breast cancers are detected by women themselves noticing changes in their breasts
  
• First order placed for both Colon Disease and Breast screening products
  

IRVINE, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- Biomerica Inc. (Nasdaq: BMRA), is proud to announce a multi-year exclusive distribution agreement with one of the UAE's most substantial healthcare conglomerates. This strategic alliance is set to revolutionize the accessibility and efficiency of colorectal cancer screening and breast examination technologies in the region.

Strategic Partnership Highlights
Biomerica has entered into a multi-year agreement with a UAE-based multi-billion dollar healthcare powerhouse, commencing with a large initial order for the Company’s at-home screening products, EZ Detect™ and Aware®. The partnership will not only enhance the distribution of these innovative health screening tools across the UAE, but also work to engage various governmental health departments in integrating these tests into national health protocols.

The collaboration between Biomerica and its UAE partner reflects a shared vision of reducing the burden of cancer through early detection and innovative healthcare solutions. The companies are also exploring opportunities to introduce additional Biomerica products to the UAE, expanding their impact on healthcare improvement.

EZ Detect™: Colorectal Screening Made Easy
EZ Detect™ stands out as the most user-friendly at-home screening test for colorectal diseases currently available on the market. It detects occult (hidden) blood in stool, which can be an early sign of colorectal cancer. FDA cleared and meticulously designed for convenience, EZ Detect™ eliminates the need for cumbersome stool handling, offering a discreet and rapid screening experience directly in the comfort of the patient's home. With a straightforward process—simply drop the test pad into the toilet, observe for a color change on the pad, then flush—the barrier to regular screening is significantly lowered, driving increased adoption rates and facilitating early detection efforts. This simplicity is critical in increasing screening adoption and early cancer detection rates. The recent approval of insurance reimbursement for EZ Detect™ by the Dubai Health Authority further underscores its public health importance and boosts its affordability and accessibility.

Aware®: Pioneering Breast Health Self-Exams
Aware® is an innovative, FDA cleared device that increases tactile sensitivity during breast self-exams. By making it easier for women to detect changes in their breast tissue, Aware® can play a crucial role in breast exams. Despite the lack of family history in over 70% of diagnosed cases, early detection through tools like Aware® significantly enhances the chances of successful treatment.

Broader Health Impacts and Company’s Commitment
Zack Irani, CEO of Biomerica, commented, "This partnership signifies a leap forward in our commitment to screening. By joining forces with one of the UAE’s top healthcare companies, we are not just distributing products but also supporting a shift towards proactive health management in the Middle East. The inclusion of EZ Detect™ in insurance coverage by the Dubai government exemplifies this shift and paves the way for greater health security. We are working to do the same with the Aware product."

Colorectal Cancer
Colorectal cancer is a prevalent and potentially life-threatening condition that affects millions of individuals worldwide. According to the World Health Organization (WHO), in 2020 alone, more than 1.9 million new cases of colorectal cancer and more than 930,000 deaths due to colorectal cancer were estimated to have occurred worldwide. The organization estimates that colorectal cancer is the third most common cancer worldwide and is the second leading cause of cancer-related death worldwide. Colorectal cancer is the second most common cause of cancer death in the UAE ^[1].

In a study performed by Johns Hopkins University, EZ Detect™ was preferred 10 to 1 by patients over another fecal occult blood test. Published studies have also indicated that the best colorectal screening test is “the one that gets it done” ^[2]. Other colorectal screening tests require handling of the stool and sending the stool sample to a lab for processing, which can prove cumbersome. Because of the unpleasant difficulties of handling and mailing stool samples, a high percentage of these competing tests are never completed by patients ^[3]. This potentially increases the risk for delayed detection of colorectal cancer.

Breast Cancer
Breast Cancer is the most common cancer among women. Unfortunately, every woman is potentially at risk, as approximately 70% of women diagnosed have no family history of breast cancer. Currently, there is no way to prevent breast cancer, so detecting the disease early is key to effective treatment. Survival rates are as high as 99% when the cancer is found early and is still localized in the breast. However, if the cancer has spread to the regional lymph nodes, the 5-year survival rate is reduced to 86% ^[4]. About 80% of breast cancers in young women are detected by women who themselves notice changes in their breasts, highlighting the important role that each woman can play in protecting their own health ^[5].

For further information about the EZ Detect Product, please visit www.ezdetect.com     

For further information about the Aware Product, please visit www.awarebse.com

About Biomerica (NASDAQ: BMRA)

Biomerica, Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point of care (in home and in physicians' offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica’s primary focus is on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development.

1. Humaid O. Al-Shamsi, Amin M. Abyad, and Saeed Rafii , A Proposal for a National Cancer Control Plan for the UAE:2022–2026. Clin. Pract. 2022, 12, 118–132.
2. Lansdorp-Vogelaar, I., A.B. Knudsen, and H. Brenner, Cost-effectiveness of colorectal cancer screening - an overview. Best Pract Res Clin Gastroenterol, 2010. 24(4): p. 439-49.
3. Navarro, M., et al., Colorectal cancer population screening programs worldwide in 2016: An update. World J Gastroenterol, 2017. 23(20): p. 3632-3642.
4. www.cancer.net
5. https://www.pinkribbon-deutschland.de/vorsorge-fakten/fakten, accessed 02 AUG 2021 | ACS: American Cancer Society

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to the efficacy of the Company’s EZ Detect and other tests, FDA clearance of the Company’s products, integrating into national health protocols, the number of stores where the EZ Detect and other products are or will be sold or available, the rapidity of testing results, negotiations with existing and new domestic and international distribution partners, uniqueness of the Company’s products, test result accuracy of products, potential for the products to detect signs of cancer and other diseases, pricing of the Company’s test kits, demand for domestic or international orders, potential revenues from the sale of the EZ Detect test And Aware in the UAE or through other distribution channels, or from the sales of other products, availability of the Company’s test kits, and patent protection on any of the Company’s products or technologies. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy of the Company’s EZ Detect test, Aware product, InFoods tests and other products; regulatory approvals necessary prior to commercialization of the Company’s products; availability of the Company’s test kits and other products; capacity, resource and other constraints on our suppliers; dependence on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for our various tests and other products; competition from other similar products and from competitors that have significantly more financial and other resources available to them; governmental virus control regulations that make it difficult or impossible for the company to maintain current operations; the Company’s ability to comply with current and future regulations in the countries where our products are made and sold and the Company’s ability to obtain patent protection on any aspects of its rapid test technologies. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally, potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.

Corporate Contact:

Zack Irani
949-645-2111
zirani@biomerica.com 

Source: Biomerica, Inc.