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Biomagnetics Applies For Gates Foundation Grant To Develop IOBS Technology

Biomagnetics Diagnostic Corporation (Biomagnetics Diagnostics), a developer of diagnostic systems and technologies, has submitted an application to the Bill & Melinda Gates Foundation for a grant to further develop the Integrate Optical Biosensor Sensor (IOBS) technology it is plans to bring to market.

The topic for the Grand Challenge Grant is low cost diagnostics for global priory health conditions, which includes both malaria and tuberculosis.

Clayton Hardman, CEO of Biomagnetics Diagnostics, said: “The availability of low cost diagnostics for malaria and tuberculosis are major concerns for not only health care professions, but also for the Gates Foundation. The technology we plan to introduce reduces the cost of traditional malaria testing by up to two-thirds.

“The IOBS platform produces test results measured in only minutes, whereas traditional methodologies often take many days. Additionally, the handheld IOBS platform can be utilized in the field at point of care by relatively untrained personnel. We believe the IOBS platform holds the promise to revolutionize testing for not only malaria, but also for many other diseases including tuberculosis and HIV/AIDS. We believe the Gates Foundation had a device such as IOBS in mind when it devised the specifications for the Challenge Grant.”