WINDSOR, ONTARIO--(Marketwire - April 25, 2012) - Essex Angel Capital Inc. (TSX VENTURE:EXC) (the "Corporation" or "Essex") is pleased to announce that Wellness Indicators Inc. ("Wellness Indicators"), one of the companies in the Essex portfolio, obtained the rights to a U.S. utility patent that was filed on March 30, 2012, for unique technology that permits rapid and accurate assessment of the antioxidant capacity of biological samples. This technology for individual chemistry is owned by Oxford Biomedical Research and is being licensed to Wellness Indicators, which was founded by Oxford's CEO, Denis Callewaert. The application follows the provisional patent application filed in April, 2011, for dry chemistry urine dipstick technology measuring antioxidant power. Until now there was no quick, easy way to measure antioxidants, which are substances like beta-carotene, vitamin C, or vitamin E that remove or neutralize potentially damaging oxidizing agents (free radicals, for example) in the body.
"The technology in this patent application provides the simplest method of measuring antioxidant capacity, and the results agree very well with more traditional methods that are much more difficult," said Callewaert. "Together with other proprietary tests and methods to analyze data in the Wellness portfolio, it will help people to better understand and track their health."
Wellness Indicators has obtained exclusive worldwide rights for human health applications to this novel technology, which is one of the key components of its Health Equater™ Assessment Profile test, scheduled for launch later this year. The company is applying for interlocking patents for all aspects of its unique technology for wellness testing. Two other Health Equater patent applications have been filed previously: the U.S. utility patent for the software database system, filed in February, 2012, for the way in which data is collected, controlled, stored, and reported; and the PCT (Patent Cooperation Treaty), filed in July, 2011, for the entire chemistry dry panel system. Additional applications are in process for Health Equater components-including proprietary chemistry tests for oxidative stress and the novel aspects of the company's high tech electronic instrument used for analyzing its test panel.
These multiple interconnected components make possible the assessment of key biomarkers of human wellness at the point of testing. The chemistry test panel measures biomarkers for oxidative stress, antioxidant capacity, and inflammation, which are analyzed in combination with other metrics, such as body-mass index (BMI) and lifestyle. The test panel will be marketed for non-invasive testing of urine samples, but the company's patent portfolio covers any body fluid and any set of biomarkers for these conditions. The database system can record any health data, not just oxidative stress and inflammation, for analysis, storage, and report generation.
Harry Silverman, Chairman of the Board of Directors of Wellness Indicators and former Chief Financial Officer of Domino's Pizza, feels that the patent application is an important step. "This technology is an excellent addition to Wellness Indicators' growing portfolio of intellectual property," Silverman said. "Since our product is the first of its kind and we are moving toward commercial sales later this year, it is important that we set up a strong perimeter of patents and trademarks to create and protect value for our shareholders."
The Health Equater Assessment Profile is a first-to-market test screening for such biomarkers as oxidative stress, low-grade inflammation, and total antioxidant capacity, which indicate levels of wellness. Thousands of studies have shown that the biomarkers detected by the assessment profile are leading indicators for a variety of future health risks, including stroke, cancer, heart disease, and diabetes. The unique value of the Health Equater Assessment Profile is that it's non-invasive, results are ready in five minutes, and it gives an indication at the individual level of how a person is functioning metabolically-before the onset of chronic disease, when intervention is less expensive and more effective. Results are available in approximately five minutes, instead of the week that traditional lab tests require. Other advantages include ease of use, portability, and low cost-being approximately $30 per test, rather than around $100 for most current diagnostic tests.
An international expert in biochemistry and immunology, with a focus on biomarkers for oxidative stress and inflammation, Denis Callewaert has founded four biotechnology companies, including Wellness Indicators. The company plans to introduce the Health Equater Assessment Profile commercially later this year, after field tests are completed.
This press release contains certain forward-looking statements about the future plans and intentions of companies in the Corporation's portfolio. Wherever possible, words such as "may," "will," "should," "could," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," or "potential," or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect Management's current beliefs and are based on information currently available to Management as at the date hereof. Forward-looking statements included or incorporated by reference in this press release include statements with respect to completion of Wellness Indicators' field trials in the first quarter of 2012, successful commercial launch of the Health Equator Assessment Profile in the next few months, and the future business activity of Wellness Indicators.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.