IRVINE, CA -- (Marketwired) -- 08/11/14 -- Biomerica, Inc. (OTCBB: BMRA) announced today it will supply its EZ Detect colorectal screening test to a multinational pharmaceutical company that has over $40 billion in revenues and over 70,000 employees worldwide. The EZ Detect product will be sold and marketed by the pharmaceutical company in one European country with the possibility of expanding into multiple other countries throughout Europe. The same pharmaceutical company currently distributes two other Biomerica point of care tests and the colorectal screening test is a new addition to the line. The terms of the agreement were not disclosed and will remain confidential.
Biomerica's patented colorectal screening test (EZ Detect) is the simplest at home test available to detect fecal occult (hidden) blood, an early warning sign of colorectal cancer. EZ Detect is the only FDA cleared test that does not require handling of stool or have dietary restrictions. The EZ Detect pad is tossed 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.
"We are very pleased to expand our relationship with our partner," said Zackary Irani, CEO Biomerica. "Their extensive marketing and distribution capabilities open up significant opportunities for our products."
About Biomerica (OTCBB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection 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 primarily focuses is on products for Diabetes, Gastrointestinal Disease and esoteric testing.
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 intended launch dates, sales potential, significant benefits, market size, growth of business, favorable positions, expansion, expected orders, market capabilities, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The 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.