CardioGenics Holdings Inc. is in the StockGuru Spotlight for March 11, 2010
Written by Editor on March 11, 2010
DALLAS, TEXAS : StockGuru announces that CardioGenics Holdings Inc. (OTCBB: CGNH) is in the StockGuru Spotlight. CardioGenics Holdings Inc, through it’s subsidiaries, develops technology and products targeting the immunoassay segment of the In-Vitro Diagnostic testing market. It has developed the QL Care Analyzer, a proprietary Point Of Care immuno-analyzer, which will run a number of diagnostic tests under development, the first of which will be a series of cardiovascular diagnostic tests. As part of its core proprietary technology, the Company has also developed a proprietary method for silver coating paramagnetic microspheres (a fundamental platform component of immunoassay equipment), which improve instrument sensitivity to light
On Wednesday, the company put out news announcing a further update regarding the status of its agreement with Merck Chimie s.a.s. (”Merck Chimie”). As mentioned in the Company’s prior announcement and Current Report on Form 8-K filed on November 24, 2009, Merck Chimie completed their encapsulation of a “test batch” of CardioGenics’ proprietary paramagnetic beads (the “CardioGenics Beads”) and targeted December 2009 for delivery of the CardioGenics Beads to the Company for “bench testing” to determine adherence of the encapsulated beads to specifications established jointly by Merck Chimie and CardioGenics for the commercial product. In December 2009, the Company received the encapsulated “test batch” of the CardioGenics Beads from Merck Chimie and performed the necessary bench testing.
Shares for CardioGenics Holdings Inc. (OTCBB: CGNH) were down during the late afternoon of trading on Wednesday and closed slightly down at closing.
To view our StockGuru Spotlight on CardioGenics Holdings Inc. (OTCBB: CGNH), please visit:
http://www.stockguru.com
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