09/26/2023 | Press release | Distributed by Public on 09/26/2023 06:23
Dubai Government Grants Insurance Reimbursement for Biomerica's EZ Detect™ Colorectal Disease Screening Test
IRVINE, Calif., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA) (the "Company") today announced that the Dubai government has officially approved insurance reimbursement for the EZ Detect colorectal disease at-home screening test, which is designed to detect an early warning sign of colorectal cancer and other colorectal diseases. Colorectal cancer ("CRC") is the second most common cause of cancer death in the UAE .
Key benefits of the EZ Detect colon diseases test include:
Colorectal cancer is a prevalent and potentially life-threatening condition that affects millions of individuals worldwide. According to the World Health Organization (WHO), in 2020 alone, more than 1.9 million new cases of colorectal cancer and more than 930,000 deaths due to colorectal cancer were estimated to have occurred worldwide. The organization estimates that colorectal cancer is the third most common cancer worldwide and is the second leading cause of cancer-related death worldwide.
To change this unfortunate dynamic, early detection is key to effective treatment and improved patient outcomes. The EZ Detect test offers a simple and convenient solution for individuals to assess their colorectal health in the comfort of their own homes. The EZ Detect™ colon disease screening test is the simplest at-home test to detect hidden (occult) blood in a person's stool, which Is an early warning sign of colorectal cancer. With the product's ease of use, a person simply places an EZ Detect™ test pad on top of toilet water after a bowel movement. A change in the test pad's color to blue/green, which would appear within two minutes, indicates the presence of blood in the stool. The pad is then simply flushed down the toilet. Patients who see a positive result should consult with their physician for next steps.
In a study performed by Johns Hopkins University, EZ Detect™ was preferred 10 to 1 by patients over another fecal occult blood test. Published studies have also indicated that the best colorectal screening test is "the one that gets it done."  Other colorectal screening tests require handling of the stool and sending the stool sample to a lab for processing, which can prove cumbersome. Because of the unpleasant difficulties of handling and mailing stool samples, a high percentage of these competing tests are never completed by patients. This potentially increases the risk for delayed detection of colorectal cancer.
The EZ Detect™ test does not require handling of the stool, is simple to perform and provides results at home within just two minutes in order to assist with early screening. According to the American Cancer Society, colorectal cancer detected early on while still localized (not spread) suggests a five-year survival rate of 91%.
"We are excited that the Dubai government has recognized the importance of early colorectal disease detection and has chosen to support the reimbursement of our EZ Detect test," said Zack Irani, CEO of Biomerica. "This decision will undoubtedly save lives by enabling more people to access affordable and convenient screening for colorectal diseases. We remain dedicated to our mission of advancing and democratizing easier access to healthcare solutions that make a difference in people's lives."
Biomerica is proud to contribute to Dubai's efforts to improve public health by making this crucial screening tool more accessible to its citizens. The government's insurance reimbursement for the EZ Detect colon diseases test is a testament to Dubai's commitment to public health and the wellbeing of its residents. Biomerica looks forward to continuing its partnership with healthcare providers and insurers to ensure that this essential screening tool reaches as many individuals as possible.
For further information about the EZ Detect Product, please visit www.ezdetect.com
About Biomerica (NASDAQ: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point of care (in home and in physicians' offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica's primary focus is on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to the efficacy of the Company's EZ Detect and other tests, FDA clearance of the Company's products, possible in-store offering of EZ Detect, the number of stores where the EZ Detect and other products are or will be sold or available, the rapidity of testing results, negotiations with existing and new domestic and international distribution partners, uniqueness of the Company's products, test result accuracy of products, potential for the products to detect signs of cancer and other diseases, pricing of the Company's test kits, demand for domestic or international orders, potential revenues from the sale of the EZ Detect test in the CVS pharmacy system or through other distribution channels, or from the sales of other products, availability of the Company's test kits, and patent protection on any of the Company's products or technologies. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy of the Company's EZ Detect test, InFoods tests and other products; regulatory approvals necessary prior to commercialization of the Company's products; availability of the Company's test kits and other products; capacity, resource and other constraints on our suppliers; dependence on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for our various tests and other products; competition from other similar products and from competitors that have significantly more financial and other resources available to them; governmental virus control regulations that make it difficult or impossible for the company to maintain current operations; the Company's ability to comply with current and future regulations in the countries where our products are made and sold and the Company's ability to obtain patent protection on any aspects of its rapid test technologies. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally, potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.
Source: Biomerica, Inc.