QN Diagnostics To Accelerate Global Marketing of POC Products

QuantRx Biomedical Corporation (Doylestown, PA, USA), a broad-based diagnostics company, and NuRx Pharmaceuticals, Inc. (Irvine, CA, USA) have jointly created a new company, QN Diagnostics, LLC, to capitalize on the opportunities in the fast-growing segment for point-of-care (POC) products.

QN Diagnostics, will be equally owned by QuantRx and NuRx. The company will receive more than US$5 million in working capital from NuRx. Following the respective contributions by NuRx and QuantRx, NuRx and QuantRx will each own a 50% interest in the new company.

With a market size estimated at $5 billion annually and growing at nearly 15% per year, POC devices facilitate diagnosis of infectious disease, drugs of abuse, and other medical conditions through examination of biologic samples such as blood, urine, and saliva. They provide diagnostic testing at home or as a front-line examination by healthcare professionals. They ensure timely diagnosis, earlier intervention and treatment, limiting of disease spread, and patient convenience.

QN Diagnostics will be focused on accelerating the commercialization of new diagnostic products utilizing QuantRx' RapidSense rapid diagnostics technology. Among the initial products is a line of hypersensitive Clinical Laboratory Improvement Amendments (CLIA)-waived quantitative POC lateral flow diagnostics, with reliable and repeatable sensitivity in low picograms per mL.

Related Links:
QuantRx Biomedical Corporation
NuRx Pharmaceuticals, Inc.