Biomerica Receives Notice of Allowance from Canadian Patent Office for Patent Covering Irritable Bowel Syndrome (IBS) Food Sensitivity Testing & Treatment
Biomerica (NASDAQ: BMRA) announced that the Canadian Patent Office has issued a notice of allowance for its InFoods® IBS diagnostic-guided therapy patent. This technology aims to identify specific foods that aggravate Irritable Bowel Syndrome (IBS) symptoms. IBS affects 30% of Canadians, with current treatment options being limited. Biomerica's InFoods® approach promises to revolutionize IBS management by tailoring dietary regimens. The company holds 11 patents worldwide, with most related to IBS set to expire in 2036 or later, supporting its growth in the diagnostic field.
- Notice of allowance for InFoods® IBS patent enhances Biomerica's intellectual property portfolio.
- The InFoods® technology addresses a significant unmet medical need in IBS treatment.
- The potential market for IBS management is substantial, with 45 million Americans affected.
- None.
- Studies show that 13
-20% of Canadians suffer from IBS at any given time1. - The lifetime risk for a Canadian to develop IBS is
30% 1.
IRVINE, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Biomerica, Inc. (NASDAQ: BMRA) today announced that the Canadian Patent Office has issued a notice of allowance for Biomerica’s patent application pertaining to the Company’s InFoods® diagnostic guided therapy platform technology that offers a novel approach in the treatment of patients suffering from Irritable Bowel Syndrome (“IBS”). IBS is a chronic, often debilitating, functional gastrointestinal (“GI”) disorder with symptoms that include abdominal pain, bloating, and altered bowel behaviors, such as constipation and/or diarrhea, or alternating between the two.
This allowed patent contains claims that broadly cover a method that enables physicians to identify patient-specific foods, such as egg, shrimp, broccoli, etc., that, when removed from the patient’s diet, may alleviate or improve an individual’s IBS symptoms, including constipation, diarrhea, bloating, severe cramping, pain, and indigestion.
“Effective treatment for IBS sufferers is a massive unmet medical need around the globe. Our long-term goal is to be an international leader in helping this patient population. To that end, in addition to advancing our InFoods IBS® technology through clinical trials here in the U.S., we are staying focused building and strengthening our global intellectual property portfolio for our entire portfolio of unique InFoods diagnostic-guided therapies.” said Zack Irani, Chairman and Chief Executive Officer of Biomerica. “This patent provides broad protection around tests and methods used to determine patient-specific foods that may trigger IBS symptoms, and includes additional claims that cover a diagnostic-guided therapy for IBS patients.” Mr. Irani concluded, “InFoods® is a disruptive technology platform that can redefine the treatment of GI diseases such as IBS, Gastroesophageal Reflux Disease, Functional Dyspepsia, and Inflammatory Bowel Disease. IBS is the most common diagnosis made by gastroenterologists and is the seventh most common diagnosis made by all physicians. In addition, we have filed digital health patents for applications that will assist patients with managing their dietary restrictions as defined by the InFoods® technology.”
Biomerica now has 11 patents issued worldwide of which two are granted in the US. This Canadian patent joins recently issued Mexican patent #385004, Japanese patent #6681907, and Korean patent #10-1887545 covering compositions, devices, and methods for IBS sensitivity testing. All of the Company’s InFoods® related issued and allowed patents expire in the year 2036 or later. The Company has a growing portfolio of international and US patent allowances and applications in prosecution related to the InFoods® IBS product, as well as multiple applications that cover the use of our InFoods® Technology in other diseases.
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.
About InFoods®
The Biomerica InFoods® IBS product is designed to allow physicians to identify patient-specific foods (e.g., eggs, broccoli, wheat, potatoes, pork, etc.), that when removed from the diet, may alleviate or improve an individual's IBS symptoms including, but not limited to, constipation, diarrhea, bloating, pain and indigestion. This patented, diagnostic-guided therapy is designed to allow for a patient-specific, guided dietary regimen to improve IBS outcomes. A point-of-care version of the product is being developed to allow physicians to perform the test in-office using a finger stick blood sample, while a clinical lab version of the product is expected to be the first for which the company will seek regulatory approval. A billable CPT code that can be used by both clinical labs and physicians' offices is already available for InFoods® products. Since the InFoods® product is a diagnostic-guided therapy, and not a drug, it has no drug type side effects. An estimated 45 million people in America currently suffer from IBS making it a leading cause for patient doctor visits.
1. Gastrointestinal Society of Canada https://badgut.org/information-centre/a-z-digestive-topics/ibs/ (accessed 03Nov21)
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 InFoods products and other tests, FDA clearance of the Company’s products, the rapidity of testing results, negotiations with international distribution partners, uniqueness of the Company’s products, disruptive technology, enhanced sensitivity, test result accuracy of products, pricing of the Company’s test kits, demand for domestic or international orders, potential revenues from the sale of current or future 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 tests, 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:
John Nesbett /Jennifer Belodeau
IMS Investor Relations
203.972.9200
jnesbett@institutionalms.com
Source: Biomerica, Inc.
FAQ
What is the significance of Biomerica's new IBS patent in Canada?
How many patents does Biomerica hold related to its InFoods technology?
What is the estimated prevalence of IBS in Canada?
What is the potential market impact of Biomerica's InFoods® technology?
When do Biomerica's IBS-related patents expire?
