May 24, 2018
OTC Disclosure & News Service
Zenosense, Inc.: MIDS Shareholder Update
VALENCIA, SPAIN, May 24, 2018 (GLOBE NEWSWIRE) — Zenosense, Inc. (OTC PINK: ZENO) (“Zenosense”, the “Company”), a healthcare technology company primarily focused on the development and commercialization of MIDS Cardiac™, a Point of Care handheld device for the early detection of certain cardiac event biomarkers. We believe that MIDS Cardiac will significantly accelerate the triage, diagnosis, treatment and disposition of patients reporting chest pain symptomatic of acute myocardial infarction (heart attack). The MIDS Cardiac development is being carried out by our MIDS Medical Limited joint venture (“MML”) based at Sci-Tech, Daresbury (UK).
The Company notes the recent decline in its share price and knows of no operational reason for this. The development by MML of the MIDS technology platform is progressing as planned. Within the next few weeks the Company expects to receive the following development information from MML:
The MIDS Hybrid Strip system replicates, as closely as possible, a fully integrated Lab on Chip (LoC) MIDS test strip set-up. Testing was conducted on both the assembled Hybrid unit and its electronic and microfluidic components separately, focusing mainly on the electronics of the magnetic sensing system.
- A summary of revisions and enhancements to the core MIDS electronics as a result of research and development work carried out by MML during the latter part of 2017 and to date in 2018. These enhancements are expected to deliver a material improvement in the MIDS platform capability in respect of the sensitivity and reproducibility of assay bead detection.
- Results from tests using the revised electronics to be carried out on two brands of commercially available composite assay beads of a type believed to be suitable for a high sensitivity troponin assay.
- These quantitative results will include definitive numerical estimates of the numbers of assay beads that have been detected, verified by a qualified and independent third party, so that the diagnostic industry can be better informed of the MIDS capability.
A further update will be issued in due course on receipt of the above information.
About Zenosense, Inc.
Zenosense Inc.’s primary focus, through our joint venture ownership in MIDS Medical Ltd., is the development of a cost-effective, hand-held Point of Care rapid cardiac diagnostic device, MIDS Cardiac™, and is also the holder of an exclusive global license agreement to develop and market effective medical devices for use in hospitals and primary healthcare settings targeting the early detection of both deadly bacteria and certain cancers in the exhaled breath of patients.
To find out more about Zenosense (OTC PINK: ZENO), visit our website at www.zenosense.com.
Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as “expects,” “intends,” “plans,” “may,” “could,” “should,” “anticipates,” “likely,” “believes” and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed on filed on April 17, 2018, and in Company reports filed subsequently thereto. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Respective statements concerning the development of both MIDS Cardiac™ and other devices under developmenthave been made based on information obtained from MIDS Medical Ltd. and Zenon Biosystem, which the Company believes to be accurate, but have not been independently verified.
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