Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, May 11, 2010
Mon, May 10, 2010 
SANTA CLARA, Calif.--([ BUSINESS WIRE ])--Iris BioTechnologies Inc. (OTCBB:IRSB), a life sciences company focused on providing patients, doctors, and clinicians with improved methods of identifying effective treatment solutions, and recipient of the Frost and Sullivan 2008 Technology Innovation Award in Pharmacogenomics, today announced two new Canadian patents. This brings the companya™s total patent portfolio to four Canadian patents, four U.S. patents, and numerous other patents in the European Union, Asia, Australia and New Zealand.
"This is an exciting time for Iris BioTechnologies as we continue building our valuable portfolio of intellectual property not only in the United States but around the world"
aThis is an exciting time for Iris BioTechnologies as we continue building our valuable portfolio of intellectual property not only in the United States but around the world,a said CEO Simon Chin. aOver the past year, we have designed and built a patent-protected, advanced chip-making system which positions Iris in the forefront of personalized medicine. These patents protect our technologies improving our outlook for product, service, and licensing revenue streams going forward.a
One of these two patents protects Irisa™s Nano-BiochipTM enabling the use of probes with superior binding affinity and specificity to be incorporated into the technology platform. The second patent on the companya™s BioWindowsTM Informatics System enables a more effective diagnosis and targeted treatment for breast cancer, colon cancer, neurological disorders, heart disease, diabetes and gene-related metabolic problems. Data provided by the companya™s Nano-BiochipTM, along with the patienta™s medical history, family medical history, life dynamic factors, and environmental exposures, are stored and analyzed by BioWindowsTM to help clinicians choose the most personalized protocol for their patients.
According to PricewaterhouseCoopers LLP, the annual market for diagnostic tests and drugs tailored to individuals was expected to total $24 billion last year and grow 10 percent annually, reaching $42 billion by 2015.
For further information about Iris, please visit [ www.irisbiotech.com ].
About Iris BioTechnologies Inc.
Iris BioTechnologies Inc., located in Santa Clara, CA, is a life sciences company dedicated to creating a novel approach to monitor gene and protein activities in order to identify the ideal treatment solution for patients. By categorizing individuals according to their molecular signatures and personal profiles, the company accurately determines the optimal medical solution for each individual patient through a proprietary informatics system called BioWindows. The companya™s continually expanding database, in addition to their development of the BreastCancerChipTM, ColonCancerChipTM, ComprehensiveCancerChipTM, NeuroChipTM, CardioChipTM, and MetabolicChipTM adds to their extensive product pipeline.
Forward-Looking Statements
Certain statements made in this press release are forward-looking. Such statements are indicated by words such as "expect," "should," "anticipate" and similar words indicating uncertainty in facts and figures. Although Iris believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. As discussed in the Iris BioTechnologies Annual Report on Form 10-K for the year ended December 31, 2009, and other periodic reports, as filed with the Securities and Exchange Commission, actual results could differ materially from those projected in the forward-looking statements as a result of the following factors, among others: uncertainties associated with product development, the need for additional financing, the degree of market acceptance of our products, our ability to compete successfully and the risks associated with dependence upon key personnel.
