Medivolve Announces Investment Into Marvel Diagnostics and Its Non-Invasive Exhaled Breath Diagnostic Technology
Marvel Diagnostics innovative BlowFISH technology offers the potential for a a simple, inexpensive, non-invasive, massively-deployable, rapid diagnostic or sentinel system for detecting respiratory illness and airborne viral threats.
TORONTO, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) is pleased to announce a share purchase agreement to acquire up to 40%
of Marvel Diagnstics Inc, for an aggregate price of up to US$1 million through a series of milestone-based payments. This funding will be used to complete clinical studies for the BlowFISH
collection system and to design and optimize, manufacture and market the device. The BlowFISH sample collection system is based on continuous condensation and can efficiently collect a substantial
liquid sample directly from a patient’s exhaled breath requiring the patient to simply blow into an inexpensive disposable device a few times.
“We are very excited about the BlowFISH technology that Marvel Diagnostics is progressing towards commercializing; we believe a non-invasive testing solution will be the future of diagnostics for all respiratory illnesses,” commented Medivolve CEO Doug Sommerville. “From our analysis it is clear Marvel Diagnostics will have developed a cost-effective and scalable solution to replace uncomfortable and inconvenient deep nasal swab technolgoies.”
About the BlowFISH Technology
The non-invasive low-cost BlowFISH will be a disruptive technology in an essential and fast growing market. The BlowFISH POC system comprises a standalone BlowFISH collector which, when coupled with Marvel’s proposed FISH detection system, is expected to have very high sensitivity, excellent specificity, a short single test run time, and high capacity (10 min/test, 180/hr capacity).
The technology will be rolled out sequentially. The stand-alone collector (BlowFISH) will come to market first as a direct replacement for the nasopharyngeal swabbing. The next step will couple antigen-based detection to the BlowFISH collector to produce a simple, fast POC system. When the viral-RNA detection (FISH) system is fully-developed, the BlowFISH collector will be sold directly to customers while the FISH detection equipment will be loaned with a multi-year contract and minimum number of kits purchase agreement.