This brings Iris BioTechnologies’ total patent portfolio to four Canadian patents, four US patents, and numerous other patents in the European Union, Asia, Australia and New Zealand.
Iris said that one of the two patents protects Iris’ Nano-Biochip enabling the use of probes with superior binding affinity and specificity to be incorporated into the technology platform. The second patent on the company’s BioWindows Informatics System enables an effective diagnosis and targeted treatment for breast cancer, colon cancer, neurological disorders, heart disease, diabetes and gene-related metabolic problems.
Data provided by the company’s Nano-Biochip, along with the patient’s medical history, family medical history, life dynamic factors, and environmental exposures, are stored and analysed by BioWindows to help clinicians choose the most personalized protocol for their patients.
According to PricewaterhouseCoopers, the annual market for diagnostic tests and drugs tailored to individuals was expected to total $24bn previous year and grow 10% annually, reaching $42bn by 2015.
Simon Chin, CEO of Iris BioTechnologies, said: “Over the past year, we have designed and built a patent-protected, advanced chip-making system which positions Iris in the forefront of personalized medicine. These patents protect our technologies improving our outlook for product, service, and licensing revenue streams going forward.”
