SOURCE: NanoSpeed Diagnostics Inc.
June 20, 2016 09:00 ET
NanoSpeed Diagnostics and Test4D™ Achieves Major Sales Milestone
EDMONTON, AB--(Marketwired - June 20, 2016) - NanoSpeed Diagnostics Inc. ("NanoSpeed" or the "Company") is pleased to announce that Test4D™, the world's first point-of-care test for vitamin D sufficiency, has reached sales of one million (1,000,000) tests since the product launch in 2013.
"The achievement of this milestone is both a demonstration of the strong demand for on-the-spot point of care testing, as well as the increasing recognition of the importance that vitamin D plays in our everyday health," said Dr. Seema Gupta, President & CEO of NanoSpeed. "Sales continue to grow at a record pace year-over-year as distribution demands grow for a high quality and reliable test for vitamin D."
Test4D™ is currently being sold through distributors globally based in Europe, China, India and the Philippines.
This sales milestone achievement represents record-breaking news for NanoSpeed. As the Company works to add new distributors and to develop new tests for commercialization with its partners, management continues to demonstrate a commitment to sustainable growth.
Dr. Seema Gupta continues, "As we celebrate this milestone, we have always believed it is important to thank our customers, distribution partners, employees, research and development collaborators and investors for their continued support. Additionally, we would like to thank TEC Edmonton and its Health Accelerator Program as well as our dedicated Executive-in-Residence for ongoing strategic counsel of our business development activities as we continue to grow and strengthen our company and brand."
Test4D™ is not approved for commercial use in Canada or the United States and is limited by federal law to research or investigational use only.
About NanoSpeed Diagnostics Inc.
NanoSpeed, incorporated in 2009, develops proprietary diagnostic/screening test kit platforms based on their Lateral Flow Immuno Assay and Lab-on-a-Chip technologies. These technological advancements provide patients with cost effective and reliable testing tools that will address the increasing needs of the healthcare industry, regulatory agencies and consumers. For more information please visit: www.nanospeed.ca
About Vitamin D deficiency and Test4D™
Vitamin D deficiency is a common problem in Canada, where 60% of adults have suboptimal levels of 25-OH vitamin D. Vitamin D deficiency has been associated with abnormalities in absorption of calcium, phosphorus, and bone metabolism; cardiovascular disease; diabetes; cancer; osteomalacia and osteoporosis in adults; and rickets in children. Deficient vitamin D levels are typically the result of an inadequate intake of vitamin D through sunlight, diet, or supplements, or due to malabsorptive disorders.
25-OH vitamin D levels are currently measured through laboratory testing. Over the past decade, there has been an incremental surge in the demand for vitamin D testing, resulting in increasing costs to government supported healthcare systems. An alternative to laboratory testing is Point-of-Care-Testing (POCT), medical testing that occurs outside of a clinical laboratory and near the patient. Potential advantages of POCT include reduction in errors and costs to the healthcare system, and the provision of quick clinical diagnoses.
To address the demands of vitamin D testing, NanoSpeed Diagnostics Inc. developed Test4D™, a POCT device for the qualitative detection of 25-OH Vitamin D in human blood obtained via fingertip puncture.
Test4D™ is available for commercial sale through certain distributors, or can be purchased for research purposes directly from NanoSpeed.