Toronto, ON -- (SBWIRE) -- 12/10/2015 -- ChroMedX Corp. (the "Company"), a developer of in vitro diagnostics and point-of-care testing (POCT) is pleased to report that it has engaged Hochuen International Corp. to produce an enhanced version of its prototype HemoPalm cartridges.
ChroMedX Corp. has entered into a development agreement with Hochuen International Corp. to produce the enhanced version of its HemoPalm cartridges by machining as a preliminary step, which will be followed by injection molding.
"By utilizing the knowledge gained from micro-machined cartridges conducted at McMaster university, the Company has made significant improvements to the cartridge design and can now move to the important step of manufacture of HemoPalm cartridges by injection moulding," said Dr. Wayne Maddever, President & CEO, ChroMedX Corp.
ChroMedX previously announced its development program with McMaster University's Manufacturing Research Institute (MMRI), when fabrication of a prototype HemoPalm cartridge, a key component of the HemoPalm analysis system, was completed. As a result of the McMaster work, the Company has developed an improved cartridge which is smaller and will reduce manufacturing costs.
The Company has granted an additional 620,000 stock options to certain directors and consultants pursuant to the Company employee stock option plan. The options are exercisable at $0.20 for a term of 5 years and vest over a 3-year term.
Hochuen was founded in 2000 with specialization in die cutting, printing, CNC, plastic injection molding and assembly. The company is located in Shenzhen, China with over 3,500 employees. There are 3 manufacturing plants with total 800,000 square feet, including a class 10,000 clean room for medical device manufacturing. In 2012, Hochuen opened US office in Los Angeles.
In 2012, Hochuen was certified with ISO13485, and has served the biomedical and life science community with high quality biological testing and diagnostics consumables and device components. Hochuen attracts world class talents with microfluidics and medical devices experience. It also serves as a microfluidics design house with the following design capabilities: micro mixing, micro valves, micro pumps and integrated devices.
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.
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