Walmart Now Selling Biomerica’s EZ Detect™ Colorectal Screening Test

Rhea-AI Summary

Biomerica, Inc. (BMRA) has partnered with Walmart to sell its EZ Detect™ colorectal disease screening test online, marking a significant retail expansion. The EZ Detect™ test allows for at-home screening without stool handling, detecting occult blood within two minutes. With colorectal cancer as a leading cause of cancer death in the U.S., the product aims to increase screening rates. Biomerica is also negotiating international distribution agreements. The CEO highlighted the growing trend of at-home testing as a potential driver for sales.

Positive

• Partnership with Walmart enhances visibility and accessibility of EZ Detect™ test.
• First shipments to Walmart initiated, expanding retail presence.
• EZ Detect™ offers a unique at-home testing solution without stool handling, potentially increasing user compliance.
• Negotiations for international distribution can broaden market reach.

Negative

• None.

• Simple 2 minute at-home test detects early warning sign of colorectal cancer
  

IRVINE, Calif., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA) (the “Company”) today announced that it has entered into a General Merchandise Supplier Agreement with Walmart for the sale of the Company’s EZ Detect™ colorectal disease screening test within the Walmart retail system. The Company has now shipped its first orders of the EZ Detect™ product to Walmart, and beginning this week, Walmart has begun selling the product through its online sales channel (https://www.walmart.com/ip/EZ-Detect-Colon-Disease-Test-Kit/577079744).

Biomerica is also in the final phase of working with Walmart to stock and sell the EZ Detect product on the shelf in their stores. In addition, the Company is in negotiations with several large partners for distribution of the EZ Detect™ product in Asia, Europe and the Middle East.

The EZ Detect™ colon disease screening test is the simplest at-home test to detect occult (hidden) blood in a person’s stool, which can be an early warning sign of colorectal diseases, including colon and rectal cancers. The test does not require handling of stool or dietary restrictions.  A person simply places an EZ Detect™ test pad into the toilet after a bowel movement.  A change in the pad’s color to blue/green, which would appear within two minutes, indicates the presence of blood in the stool.  The pad is then simply flushed down the toilet.

Colorectal cancer (“CRC”) is the second most common cause of cancer death in the United States. In 2020, an estimated 147,950 individuals would be diagnosed with CRC and an estimated 53,200 would die from the disease, including 17,930 cases and 3,640 deaths in individuals under the age of 50 ^[1].

In a study performed by Johns Hopkins University, EZ Detect™ was preferred 10:1 by patients over another fecal occult blood test. Published studies have also indicated that the best colorectal screening test is “the one that gets done.” ^[2] Other colorectal screening tests require handling of the stool and delivering or mailing the stool sample to a lab for processing. Handling of the stool results in a high percentage of these competing tests never being performed by patients^[3]. EZ Detect™ does not require handling of the stool, is simple to perform and provides results in just two minutes.

“With the current COVID-19 pandemic, consumers have become much more aware of at-home diagnostic testing and are more comfortable performing these tests. For this reason, many global retailers are expanding their focus on selling home health solutions. This growing trend presents many opportunities for our EZ Detect™ colorectal disease test, our Aware™ breast self-exam product and other products that we make for in-home use. While there are other choices for colorectal disease screening, EZ Detect™ offers the only alternative that doesn’t require handling of the stool, making our test more appealing and easier to conduct from the consumer perspective. In addition, the agreement for online sales of EZ Detect with Walmart could bring significant exposure to the product here in the US,” commented Zack Irani, CEO of Biomerica.

For further information about the EZ Detect Product, please visit ezdetect.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. Siegel, R.L., et al., Colorectal cancer statistics, 2020. CA Cancer J Clin, 2020. 70(3): p. 145-164.
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.

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, possible in-store offering of EZ Detect, the rapidity of testing results, negotiations with international distribution partners, uniqueness of the Company’s products, 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 EZ Detect™ test by Biomerica?

The EZ Detect™ test is an at-home colorectal disease screening test that detects occult blood in stool within two minutes, helping to identify early warning signs of colorectal cancer.

When will Walmart start selling the EZ Detect™ test?

Walmart has begun selling the EZ Detect™ test online as of October 01, 2021.

What does the partnership with Walmart mean for Biomerica?

The partnership with Walmart provides Biomerica with significant exposure and access to a large customer base, which could enhance sales of the EZ Detect™ test.

What are the benefits of the EZ Detect™ test compared to other screening tests?

Unlike other tests, EZ Detect™ does not require stool handling, making it easier and more appealing for patients, which may lead to higher screening participation.

How many people are diagnosed with colorectal cancer annually?

In 2020, it was estimated that 147,950 individuals would be diagnosed with colorectal cancer in the United States.