SAN LENDRO, Calif., April 13, 2023 (GLOBE NEWSWIRE) — Nanomix Corporation (OTCQB: NNMX) (“Nanomix” or the “Company”), A leader in the development of mobile, affordable, point-of-care (POC) diagnostics today announced an equity investment from Mike Wickham, managing director of Woodley Equipment Company Limited, in which Mr. Wickman purchased 59,640 shares of the company’s common stock. Stock priced at $1.17 per share for a total purchase price of $70,000. To date, Woodley has invested a total of $570,000 in equity in the company.
As announced on November 9, 2022, Nanomix and Woodley entered into an exclusive distribution agreement. Woodley will work with Nanomix to develop species specific ranges for the S1 Critical Infection Panel and to distribute the eLab system to the veterinary market for regions outside the United States.
Thomas Schlumpberger, Chief Executive Officer of Nanomix, said, “I am very pleased to receive Woodley’s additional equity investment, which demonstrates their continued confidence in Nanomix and our technology. Woodley brings significant product development and commercial expertise that will allow us to expand our efforts in the veterinary market ahead of schedule. Additionally, we plan to work with Woodley’s clinical research department on applications of the Nanomix POC solution.
Woodley Managing Director Mike Wickham commented, “Woodley supplies equipment for all aspects of laboratory diagnostics to the veterinary market with expertise in emergency and critical care equipment. We are excited to develop POC devices to treat animals and are proud to partner with Woodley Nanomics.”
The Nanōmix eLab® System is a mobile, hand-held immunoassay and chemistry diagnostic system designed for the needs of rapid point-of-care testing. The Nanōmix eLab® system offers a variety of advantages, including results in minutes, low cost and portability, while providing accurate, quantitative results comparable in quality to those provided by central laboratory testing. Furthermore, the S1 panel cartridge was developed to help rapidly diagnose serious infections, including sepsis. The panel provides quantitative test results for procalcitonin (PCT), C-reactive protein (CRP) and lactate (LAC) from the same sample. The assay runs on the eLab® analyzer with results available in approximately 12 minutes from sample to answer versus current diagnostic solutions that take hours to provide test results. The S1 panel assay has received CE marking in Europe and is UK Medicines and Healthcare Products Regulatory Agency (MHRA) registered.
About Nanomix Corporation
Nanomix (OTCQB: NNMX) is developing mobile point-of-care diagnostics with its Nanōmix eLab® system platform to provide rapid, accurate, quantitative information for use in settings where time is critical for clinical decision-making and improved patient care. The company’s products are designed to broadly impact healthcare delivery by bringing diagnosis to the point of initial patient interaction, whether in hospital or pre-hospital, remote or alternative care settings, thereby enabling faster clinical decision-making and potential treatment-in. – place Nanomix’s first trial addresses the need for rapid diagnosis of serious infections, including sepsis. The company is developing a pipeline of other tests designed to improve patient outcomes by providing high-quality diagnostic information in minutes. For more information, visit www.nanomixdx.com.
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Certain statements in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company’s intentions, beliefs, estimates, outlook, analysis or current expectations, among other things, regarding the Company’s ongoing and planned product development; the company’s intellectual property status; the Company’s ability to develop business operations; expectations regarding product launches and revenues; the Company’s results of operations, cash needs, expenses, financial condition, liquidity, prospects, growth and strategies; the industry in which the company operates; and trends that may affect the industry or company. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks discussed more fully in the section entitled “Risk Factors.” The Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as well as a discussion of potential risks, uncertainties, and other important factors in the Company’s subsequent filings with the Securities and Exchange Commission. All such statements speak only as of the date they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.
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