DOYLESTOWN, Pa. - February 2, 2009 -- QuantRx� Biomedical
Corporation (OTCBB:QTXB), a broad-based diagnostics company focused
on the development and commercialization of innovative diagnostic
products based on its patented technology platforms for the
worldwide healthcare industry, today announced it has entered into
a Technology License Agreement with Church & Dwight Co., Inc.
(NYSE:CHD - News). Under the terms of the agreement, Church &
Dwight acquired exclusive world-wide rights to use certain QuantRx
technology related to a jointly developed at-home diagnostic test
for the consumer Over-the-Counter market. QuantRx expects that the
product will be launched by Church & Dwight under its First
Response� brand and will be available at the retail level in the
second quarter of 2009. Under the long-term agreement, QuantRx has
received a commercialization fee and shall receive royalties on net
sales of the product.
"We are pleased to have been chosen by Church & Dwight to
develop a new at-home diagnostic test to help fuel their continued
growth in the Over-the-Counter market." stated Dr. William Fleming,
President of QuantRx' Diagnostic Group. "This partnership helps
underscore our ability to rapidly apply our technological expertise
to meet the market needs of our partners. It also provides QuantRx
with a long-term revenue stream, while we continue developing a
robust proprietary product pipeline to bring innovative products to
the point-of-care market."
"QuantRx has been developing professional and OTC diagnostic
products for our partners for several years, and has focused on
rapid integration of technology to meet the market needs of its
partners around the world. Our unique technologies, technical
expertise, and flexibility allow QuantRx to successfully meet the
needs of both large and small partners," stated Dr. Fleming.
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About QuantRx Biomedical (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB:QTXB) is a broad-based
diagnostics company focused on the development and
commercialization of innovative diagnostic products based on its
patented technology platforms for the worldwide healthcare
industry. With synergistic expertise in the discovery of diagnostic
platforms and the commercialization of products for use by
healthcare professionals and consumers, QuantRx is focused on
providing more accurate, reliable, and faster diagnoses that result
in improved patient care.
The QuantRx strategy targets significant market opportunities
estimated to be in excess of $5 billion worldwide. The Company's
technology portfolio, with more than three dozen patents, patents
pending and licensed patents, includes: (1) RapidSense�
point-of-care testing products based on QuantRx core intellectual
property related to lateral flow techniques for the consumer and
healthcare professional markets; (2) genome-based diagnostic chips
for the laboratory and healthcare professional markets; (3)
molecular imaging agents for positron emission tomography (PET) and
fluorescence imaging, with initial application in cardiovascular
disease, addressing significant unmet medical needs by providing
clinicians with important tools for early discovery and assessment;
and (4) PAD technology for diagnosis and treatment of women's
health concerns and other medical needs.
QuantRx has corporate offices in Doylestown, Pennsylvania, and
its research and development center in Portland, Oregon. The
Company holds a majority position in FluoroPharma, Inc., a
Boston-based molecular imaging company, and a significant position
in Genomics USA, Inc., a Chicago-based developer of microarray
technology for DNA testing.
This release may contain forward-looking statements being made
by QuantRx within the meaning of the federal securities laws. Such
forward-looking statements reflect, among other things,
management's current expectations, management's current plans and
strategies, and anticipated financial results, all of which are
subject to known and unknown risks, uncertainties and factors that
may cause our actual results to differ materially from those
expressed or implied by these forward-looking statements. Many of
these risks are beyond our ability to control or predict including;
general economic conditions, the Company's need for additional
funds, the early state of the products the Company is developing,
uncertainties relating to clinical trials and regulatory reviews,
competition and dependence on collaborative partners, the Company's
ability to avoid infringement of the patent rights of others, and
the Company's ability to obtain adequate patent protection and to
enforce these rights. Because of these risks, uncertainties and
assumptions, you should not place undue reliance on these
forward-looking statements. Furthermore, forward-looking statements
speak only as of the date they are made. QuantRx does not undertake
any obligation to update or review any such forward-looking
information, whether as a result of new information, future events
or otherwise.
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