ChroMedX Announces Lab Expansion for Accelerated Testing and Development

Toronto, Ontario–(Newsfile Corp. – August 2, 2017) – ChroMedX Corp. (CSE: CHX) (OTCQB: CHXIF) (FSE: EIY2) (the “Company“), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce the expansion of its lab capabilities and relocation of Corporate and developmental headquarters to Oakville, Ontario.

Since November 2014 ChroMedX’s Canadian based development has taken place at the McMaster Innovation Park Lab under the leadership of Dr. Cynthia Balion and the Biointerface Institute under the leadership of Dr. Leyla Soleymani located at McMaster University of Hamilton, Ontario, Canada. ChroMedX has commenced construction on the new lab space and anticipates a formal relocation for September 1, 2017.

“Expanding our lab capabilities is an important step in the evolution of ChroMedX and growth of our team and knowledge base. This expansion will accelerate our development process and moving core development internal to the Company is a key step in preparation as we move towards commercialization of the HemoPalm technology. Our collaboration with McMaster Innovation Park and Biointerface Institute has been crucial to the successful development of the HemoPalm and we will continue to look to Cynthia, Leyla and their teams for guidance.” said Ash Kaushal, President & CEO, ChroMedX Corp.

ChroMedX’s partnership with the McMaster Innovation Park and Biointerface Institute has been integral to the development of the Company’s HemoPalm Blood Analyzer System and the groups will continue to play a supporting role in the advancement of the technology.

In conjunction with ChroMedX’s lab expansion the Company will now be looking to add several key personnel in a number of different fields to expand its internal development team. Interested parties can find more details and apply online on the Company’s website under the careers tab.

ChroMedX Website

The Company recently announced the launch of a new website at www.ChroMedX.com. Investors and individuals interested in keeping up with latest news and updates can subscribe on the Home and News pages on the Company’s website or reach out on the contact page.

About ChroMedX Corp.

ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing.  The devices are protected by the Company’s issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.

The HemoPalm Handheld Blood Analyzer System is the only handheld blood analysis technology which combines Blood Gases & Electrolytes with full CO-oximetry.  Currently this combination is not available on any of the handheld analyzers on the market. Existing technologies require users to purchase a second device to carry out the CO-oximetry. The Company’s technology has the advantage of being able to offer a single handheld blood analyzer that provides all the required tests for Blood Gases & Electrolytes, with full CO-oximetry and bilirubin. Another competitive advantage of the HemoPalm system will be its ability to draw capillary blood directly from a pin-prick site into the cartridge, providing an alternative to arterial blood. Drawing arterial blood is painful and can cause nerve damage. CO-oximetry is the measurement of five different hemoglobin species in blood.

The global market for Blood Gases & Electrolytes was estimated to be 1.5 Billion $US in 2015 and is projected to reach over 1.8 Billion by 2020.

Website: www.chromedx.com

Contact:
Investor Relations
Office. 647-872-9982 ext. 2
TF. 1-844-247-6633 ext. 2
investor.relations@chromedx.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.   There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control.   The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law.   The reader is cautioned not to place undue reliance on forward-looking statements.   Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com

from Newsfile Corp News Releases http://ift.tt/2vuaLTy

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