Biomagnetics Diagnostics Receives a Financing Commitment up to $1 Million to Speed Development of Malaria Testing Technology

"We are very excited to be receiving this equity investment as it shows the significant commitment of our investors to furthering our corporate goals," commented Clayton Hardman, CEO of Biomagnetics Diagnostics. "We view our technologies as potentially revolutionizing pathogen testing in a variety of important markets. Our first goal is to finalize our government laboratory partnership, which we believe will be occurring over the coming weeks. We will then use these new funds to quickly move this technology into the field where we believe a significant market exists. We have already landed our first commitment from China's third largest dairy and we believe many other organizations are eagerly awaiting our market entry."

According to the World Health Organization, some 3.2 billion people, or about half the world's population is at risk of malaria transmission in 107 countries and territories worldwide. While there are between 350 million and 500 million new cases of malaria each year, there are very few reliable and field deployable diagnostic tools available. In the case of malaria, early detection substantially improves treatability and survivability. TB (tuberculosis) is the second leading cause of death from infectious disease worldwide. Bovine TB is a growing problem through out the world with an estimated 1.3 billion cattle at risk. In the United States, where the cattle industry is valued at $60 billion annually, the use of existing diagnostic tests currently add $5.00 to $15.00 on average per head to the cattle industry's costs. Field deployable integrated optical biosensor systems hold the promise to significantly speed the diagnostic testing process and to meaningfully lower costs.

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company's revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies. More information on Biomagnetics Diagnostics Corp. can be seen at www.BiomagneticsBMGP.com

Biomagnetics Diagnostics Corp.
Joe Noel, 925-922-2560