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Concurrent with the above developmental efforts, Biomagnetics will be working directly with its engineering partner to fully develop the handheld integrated optical biosensor units. This developmental effort is also expected to be completed within 180 days.

Mr. Hardman continued, ???While the most important aspect of our developmental and commercialization effort is to save lives and alleviate some of the suffering that takes place among those afflicted with malaria, tuberculosis, HIV/AIDS, and cholera, we wish to meet these objectives while still offering our shareholders significant returns on their invested capital. We believe a fully functioning, simple to use, field deployable, integrated optical biosensor device capable of very rapid and low cost detection of these pathogens and diseases is worth a significant amount to our shareholders. Therefore, we strongly believe our shares are significantly undervalued relative to the strong advancements we have made over the past few months with our research laboratory partner and the very real prospect of delivery of such a revolutionary device over the next 180 day period.???

The Company recently announced it had finalized a ???Patent License Agreement with Los Alamos National Security.??? Under the agreement, Biomagnetics will have access to the Triggered Optical Biosensor and Integrated Optical Biosensor System (IBOS) technology developed at Los Alamos National Laboratory.

Source: Biomagnetics Diagnostics Corporation