QMC Health Inc. Obtains Exclusive Rights to Novel Long COVID Biomarkers in Development of High Sensitivity Long COVID Rapid Test

Research Team at Lawson Health Research Institute
Identifies Unique Long COVID Biomarkers

AUSTIN, TX, Nov. 01, 2022 (GLOBE NEWSWIRE) -- QMC Health Incorporated announced today an agreement with Lawson Health Research Institute for the exclusive rights to novel blood biomarkers that characterize Long COVID disease. The discovery of the biomarkers identified by a research team at Lawson, led by Dr. Douglas Fraser, was recently published in the journal, Molecular Medicine1. QMC Health will use these biomarkers to develop a Long COVID point-of-care rapid test based on its QDX HPFIS (High-Performance Fluorescent Immuno-Sensors) for high sensitivity bio-detection and quantification to develop a best-in-class, low-cost rapid diagnostic testing assay platform.

Currently, clinical diagnosis of Long COVID is an unresolved and formidable global challenge. The CDC estimates that 7.5 percent of the U.S. adult population has long COVID symptoms.2 David Cutler, PhD, a professor of economics at Harvard University, estimates in a recent research disclosure, that the total economic cost of long COVID could be as much as $3.7 trillion.3

“Long COVID is affecting the lives of millions yet there is no conclusive diagnostic test. With the Long COVID biomarkers from Lawson, we believe QMC Health is well-positioned to develop an accurate and rapid Long COVID point of care test,” said Stephen Squires, President, and CEO of QMC Health Inc. Long-Covid is a multisystemic disease that involves many organs and presents a wide range of symptoms. Our goal is to do our part to improve a current diagnostic process that is plagued by the absence of a conclusive test for Long COVID. Most importantly, a conclusive diagnostic tool could help millions of people, who in the absence of a confident diagnosis, suffer increased mental and physical anguish along with high medical costs to rule out disease.”

"The QDX HPFIS platform delivers a low-cost rapid test with high sensitivity and multiplex capabilities not previously found in a lateral flow test format. When you consider its ease of use, accuracy, and rapid turnaround time, the platform is a natural choice for next generation point of care testing, particularly for more complex disease states such as Long COVID and Sepsis where changes in targets are much more discrete, and three or more biomarkers are necessary to provide a conclusive diagnosis," stated Dr. Douglas Fraser, Lawson Scientist, Critical Care Physician at London Health Sciences Centre, Professor at Western University’s Schulich School of Medicine & Dentistry. discovered the novel, patent pending Long COVID biomarkers.

Squires added that, "QMC Health has formed its regulatory team of internal and external experts and is establishing the appropriate regulatory procedures to ensure that the test is developed to adhere to the strictest parameters and industry standards. QMC Heath is also communicating with U.S government health agencies to explore possibilities for collaborations."

During the COVID-19 pandemic, QMC Health developed the HPFIS technology for use in the formulation of bio-conjugates for use in rapid flow assays. QMC Health intends to expand its diagnostic capabilities and is developing a range of tests to address other diseases and conditions.



Lawson Health Research Institute is one of Canada’s top hospital-based research institutes, tackling the most pressing challenges in health care. As the research institute of London Health Sciences Centre and St. Joseph’s Health Care London, our innovation happens where care is delivered. Lawson research teams are at the leading-edge of science with the goal of improving health and the delivery of care for patients. Working in partnership with Western University, our researchers are encouraged to pursue their curiosity, collaborate often and share their discoveries widely. Research conducted through Lawson makes a difference in the lives of patients, families, and communities around the world. To learn more, visit www.lawsonresearch.ca.

ABOUT QMC Health Incorporate

QMC Health Incorporated, an Austin-based Nano-biotechnology company, is the only commercial entity to develop and leverage the power of QDX quantum dot high performance fluorescent immunosensors for high sensitivity bio-detection and quantification to develop best-in-class low-cost rapid diagnostic assays. QMC Health, uses its HPFIS technology that embodies its proprietary QDX quantum dots., The combination of QMC Health and Lawson Biomarker technologies alleviates the bottlenecks resulting in new rapid diagnostic test development being accomplished in weeks, not years. This platform also provides a level of performance not previously thought possible in an economical, rapid diagnostic test format. Enabling researchers to push frontiers by rapidly moving newly discovered biomarkers into disruptive new diagnostics, QMC Health is poised to decentralize and democratize the entire healthcare diagnostics ecosystem.

QMC Health Incorporated is a wholly owned subsidiary of Quantum Materials Corp.

QMC Health Incorporated Forward-Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Although QMC Health Incorporated management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of QMC Health Incorporated that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the fact that product candidates if approved may not be commercially successful, the future approval and commercial success of therapeutic or diagnostic alternatives, QMC Health Incorporated’s ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, trends in exchange rates and prevailing interest rates, volatile economic and market conditions, cost containment initiatives and subsequent changes thereto, and the impact that COVID-19 will have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. Any material effect of COVID-19 on any of the foregoing could also adversely impact us. This situation is changing rapidly, and additional impacts may arise of which we are not currently aware and may exacerbate other previously identified risks. Other than as required by applicable law, QMC Health Incorporated does not undertake any obligation to update or revise any forward-looking information or statements.



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1 “Elevated vascular transformation blood biomarkers in Long-COVID indicate angiogenesis as a key pathophysiological mechanism.” Molecular Medicine 28, 122 (2022). London researchers discover novel method to diagnose long COVID | Lawson Health Research Institute (lawsonresearch.ca)

2 “Nearly One in Five American Adults Who Have Had COVID-19 Still Have “Long COVID,” CDC, June 6, 2022, https://www.cdc.gov/nchs/pressroom/nchs_press_releases/2022/20220622.htm

3 “The Economic Cost of Long COVID: An Update,” David M. Cutler, Harvard University, July 22, 2022, https://scholar.harvard.edu/files/cutler/files/long_covid_update_7-22.pdf