Corgenix Medical Corporation (OTCMKTS:CONX) Receives Two Grants Worth $818,000

Corgenix Medical Corporation (OTCMKTS:CONX), a leading developer company of diagnostic test kits, received two grants worth $818,000 to work on the development of an Ebola diagnostic test kit. The grants were awarded by the Paul G. Allen Family Foundation and the Bill & Melinda Gates Foundation. The company has finalized three subcontractors to assist on the project. They are Zalgen Labs, LLC, Tulane University and Autoimmune Technologies, LLC.

The management view

Douglass Simpson, the CEO and President of Corgenix Medical Corporation (OTCMKTS:CONX), said that the seriousness of Ebola virus epidemic has prompted various companies in the industry to launch effective treatment products as soon as possible. He expressed his gratitude towards Alien and Gates foundations for their commitment and financial assistance to support Corgenix efforts. It will accelerate the development of diagnostic test kits for Ebola.

The test kit

The point-of-care diagnostic test kit under development will be utilized in any field or clinical laboratory, to determine if a patient is infected, with deadly virus Ebola. The Viral Hemorrhagic Fever Consortium and Corgenix Medical Corporation (OTCMKTS:CONX) have already manufactured the ‘ReLASV® test’ for the Lassa fever virus. It is CE market that allows its use as a diagnostic test kit in Europe and other nations that recognize the European standard.

The significance

Robert Garry of the Tulane University School of Medicine said that accurate and rapid diagnostic test kits will be critical to contain future Lassa and Ebola virus outbreaks. The grant will help Corgenix Medical Corporation (OTCMKTS:CONX) and the associated consortium to develop effective diagnostic testing kit as soon as possible. The present testing tools requires special biohazard handling. In the testing process, the test samples are sent to long distance special labs. It is a time-consuming and lengthy testing process that results in a loss of time to diagnose and treat the deadly Ebola virus.

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