NEWS:
Breathtec Biomedical Closes License of NA-NOSE Technology for Disease Detection
VANCOUVER, BRITISH COLUMBIA – May 24, 2016 – Breathtec BioMedical, Inc. (CSE: BTH) (CNSX: BTH) (XFRA: BTI) (OTCQB: BTHCF) (the “Company” or “Breathtec”), a medical diagnostics company focused on developing, in-licensing and commercializing proprietary, innovative and best-in-class breath analysis devices for the early detection of life threatening diseases is pleased to announce that further to its press release of April 13, 2016, it has now issued 1,000,000 common shares of the Company (“Shares”) to Technion Research and Development Foundation Ltd., an Israeli private company and wholly-owned subsidiary of the Technion – Israel Institute of Technology (“Technion”), pursuant to a license agreement dated as of March 16, 2016 between the Company and Technion with respect to a non-exclusive license to the NA-Nose technology patents and know-how to enable commercial advancements in the field of infections detection.
In addition, further to the Company’s press release of April 19, 2016 with respect to the engagement of Professor Hossam Haick of Technion pursuant to a 12 month consulting services agreement, subject to regulatory approval, the Company will issue 60,000 Shares (subject to adjustment in certain circumstances) on or before April 31, 2017 as partial consideration for his services.
Shares issued to Technion are subject to a 4 month hold period pursuant to applicable securities laws which expires on September 5, 2016. Shares issued to Professor Hossam Haick will be subject to a 4 month hold period from the date of issuance pursuant to applicable securities laws.
Professor Haick is best known for developing the NA-NOSE technology that can be used to detect disease by mechanically “smelling” elements in the breath of potential sufferers. Certain diseases produce chemicals called volatile organic compounds (VOCs), which easily evaporate into the air and produce a discernible scent profile. Haick’s Na-NOSE chip detects the unique “signature” of VOCs in exhaled breath.
In related news, Professor Dr. Haick has recently been acclaimed as one of the world’s most “Good” people, as noted by GOOD Magazine, an international publication that recognizes researchers for the benefits of their work for humanity. According to the magazine publishers, Haick is one of the 100 most influential people in the world who are changing the world in a positive manner. The GOOD 100 are “spearheading change” in the areas of science, education, and business, said the magazine, and Haick, among them, “refuses to accept the existing reality as the end of the story. Not one of the 100 people we have chosen operates out of a desire for fame — which is precisely why it is important to recognize their activity.”
Besides the GOOD recognition, Dr. Haick was also recently presented with the Humboldt Research Award, which recognizes top research done throughout the world in cooperation with research institutes in Germany. Awarded by the Alexander von Humboldt Foundation, the prize is given to prominent researchers who have significantly influenced their fields of study in cooperation with research institutes in Germany. It is granted in recognition of a researcher’s achievements as a whole — discoveries, theories, and insights.
Mr. Kal Malhi, President of Breathtec Biomedical notes, “We are truly excited by the prospects ahead. This agreement represents a major leap forward in our quest to commercialize the best breath analysis technologies for the detection of disease. Our technical partners are world-class, and with the expert direction of Prof. Haick we are extremely well served. With the close of this agreement we are rapidly moving ahead and arrangements to ship the prototype technology to our research and development team are already underway.”
For more information, please visit: www.breathtecbiomedical.com.
