Walmart Now Selling Biomerica’s EZ Detect™ Colorectal Screening Test
October 01 2021 - 6:39AM
Biomerica, Inc. (Nasdaq: BMRA) (the “Company”) today announced that
it has entered into a General Merchandise Supplier Agreement with
Walmart for the sale of the Company’s EZ Detect™ colorectal disease
screening test within the Walmart retail system. The Company has
now shipped its first orders of the EZ Detect™ product to Walmart,
and beginning this week, Walmart has begun selling the product
through its online sales channel
(https://www.walmart.com/ip/EZ-Detect-Colon-Disease-Test-Kit/577079744).
Biomerica is also in the final phase of working
with Walmart to stock and sell the EZ Detect product on the shelf
in their stores. In addition, the Company is in negotiations with
several large partners for distribution of the EZ Detect™ product
in Asia, Europe and the Middle East.
The EZ Detect™ colon disease screening test is
the simplest at-home test to detect occult (hidden) blood in a
person’s stool, which can be an early warning sign of colorectal
diseases, including colon and rectal cancers. The test does not
require handling of stool or dietary restrictions. A person
simply places an EZ Detect™ test pad into the toilet after a bowel
movement. A change in the 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.
Colorectal cancer (“CRC”) is the second most
common cause of cancer death in the United States. In 2020, an
estimated 147,950 individuals would be diagnosed with CRC and an
estimated 53,200 would die from the disease, including 17,930 cases
and 3,640 deaths in individuals under the age of 50 [1].
In a study performed by Johns Hopkins
University, EZ Detect™ was preferred 10:1 by patients over another
fecal occult blood test. Published studies have also indicated that
the best colorectal screening test is “the one that gets done.” [2]
Other colorectal screening tests require handling of the stool and
delivering or mailing the stool sample to a lab for processing.
Handling of the stool results in a high percentage of these
competing tests never being performed by patients[3]. EZ Detect™
does not require handling of the stool, is simple to perform and
provides results in just two minutes.
“With the current COVID-19 pandemic, consumers
have become much more aware of at-home diagnostic testing and are
more comfortable performing these tests. For this reason, many
global retailers are expanding their focus on selling home health
solutions. This growing trend presents many opportunities for our
EZ Detect™ colorectal disease test, our Aware™ breast self-exam
product and other products that we make for in-home use. While
there are other choices for colorectal disease screening, EZ
Detect™ offers the only alternative that doesn’t require handling
of the stool, making our test more appealing and easier to conduct
from the consumer perspective. In addition, the agreement for
online sales of EZ Detect with Walmart could bring significant
exposure to the product here in the US,” commented Zack Irani, CEO
of Biomerica.
For further information about the EZ Detect
Product, please visit 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.
1. Siegel, R.L., et al., Colorectal cancer
statistics, 2020. CA Cancer J Clin, 2020. 70(3):
p. 145-164.2. Lansdorp-Vogelaar, I., A.B. Knudsen, and H. Brenner,
Cost-effectiveness of colorectal cancer screening - an overview.
Best Pract Res Clin Gastroenterol, 2010. 24(4): p.
439-49.3. Navarro, M., et al., Colorectal cancer population
screening programs worldwide in 2016: An update. World J
Gastroenterol, 2017. 23(20): p. 3632-3642.
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 rapidity of
testing results, negotiations with international distribution
partners, uniqueness of the Company’s products, test result
accuracy of products, pricing of the Company’s test kits, demand
for domestic or international orders, potential revenues from the
sale of current or future 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 tests,
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.
Corporate Contact:
John Nesbett /Jennifer BelodeauIMS Investor
Relations203.972.9200jnesbett@institutionalms.com
Source: Biomerica, Inc.
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