Mediomics LLC Receives Qualifying Therapeutic Discovery Project Award

Stereotaxis Awarded $1.5 Million in Grants under the Qualifying Therapeutic Discovery Project Program

PRESS RELEASE
ST. LOUIS, November 08, 2010

Mediomics, LLC has been awarded $244,479 in grants from the Departments of the Treasury and Health and Human Services for the Qualifying Therapeutic Discovery Project (QTDP) to advance  the development of quick, robust and affordable PINCER-based biosensors for detect multiple biomarkers for cardiovascular disease. The biomakers include troponin I, D-dimer, CK-MB, BNP, myoglobin and C-reactive protein.  Since 2002, Mediomics has received more than three million dollars of US government funding to develop its quick and sensitive homogenous PINCER™ protein assay.

Mediomics is currently focused on developing a sustainable, profitable biotechnology business that provides innovative assay kits, biosensors and microarrays for academic and corporate research, point of care testing, food and pharmaceutical production process control, as well as the medical and environmental research markets.  These assay kits will be used to quantify most biologically and therapeutically important macromolecules, including ligands, proteins, protein complexes, and pathogens, including bacteria, fungi and viruses.  By 2012, it has been estimated that the global market for biosensors will reach approximately $6.1 billion dollars.

The company’s rapid, mix-and–measure homogeneous assays have already been adapted for the detection of a range of biologically and therapeutically important macromolecules, including cAMP, tryptophan, S-adenosyl methionine, PDE assay, biotin, insulin, C-peptide, albumin, C-reactive protein (hCRP), IgG, IgM, E. Coli,  and others.

“Early diagnosis remains one of the most important factors determining the rate of cure for cancer patients. Mediomics’ PINCER technology will provide affordable and accessible prevention testing for cancer diagnosis, which we expect will have significant impact on the goal of curing cancer in next 30 years. “We are very appreciative of the recognition and support provided by this award.  This grant will be extremely helpful to move this technology into mainstream applications,” said Mediomics President, Dr. Yie-Hwa Chang.”

About the Qualifying Therapeutic Discovery Project program
The Qualifying Therapeutic Discovery Project tax credit, which can also be administered as a grant, is provided under section 48D of the U.S. Internal Revenue Code (IRC), enacted as part of the Patient Protection and Affordable Care Act of 2010. The program is targeted to therapeutic discovery projects that show a reasonable potential to result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions; to reduce the long-term growth of health care costs in the United States; or to significantly advance the goal of curing cancer within 30 years. Allocation of the credit or grant also takes into consideration which projects show the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences. The credit or grant is only available to taxpayers with no more than 250 employees.

About Mediomics, LLC:
Dr. Yie-Hwa Chang founded the Company in August 2001.  The Company is commercializing core technologies for which it has secured an exclusive license from Saint Louis University, including the following: (i) a DNA-binding protein-based bioassay, biosensor and biochip platform, (ii) a related variant – the molecular PINCER™-based homogeneous biosensor, bioassay, biochip platforms and companion devices, and (iii) innovative, proprietary methods to screen and develop new high-affinity capture reagents for research, diagnostic and therapeutic use.

For additional information, visit the website at www.mediomics.com, or contact Margaret Meng, Chief Administrative Officer, by phone at (314) 971-3028.