Biomagnetics’ Updates on Commercialization of the IOBS Unit

Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, cholera and malaria detection, and other innovative technologies, today announced further details in next steps to be taken toward full commercialization of the Company’s flagship Integrated Optical Biosensor (IOBS) diagnostic system. Biomagnetics is currently in collaboration with Los Alamos National Laboratory to develop the world’s first integrated optical biosensor in a portable, handheld technology format designed to substantially lower unit costs and raise the detection levels of some of the world’s most prevalent diseases.

Clayton Hardman, CEO of Biomagnetics Diagnostics Corp. stated, “We can now confirm that we are in the preliminary phase of design engineering as we work toward actual commercialization of the IOBS, a significant goal that represents the culmination of our efforts over the past year. After conferring with our design partner, Lathrope Engineering, we will be taking a twofold approach to best reach sales as soon as possible.” Mr. Hardman continued, “Specifically, we will “ruggedize” the design of our bench top model for shipment and laboratory use, while concurrently miniaturizing the IOBS technology to fit within an easy-to-use hand held unit. We expect to receive a budget and schedule outlining the time-frame-to-completion for this project from Lathrope Engineering in the next two weeks.”

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company and an acquirer of other innovative technologies. The Company’s revolutionary diagnostic systems, which are based on advanced waveguide and magnetics technologies, test for any virtually viral or bacterial disease. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to otherwise do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies. Additionally, the Company is currently developing a waveguide-based advanced integrated optical biosensor through its cooperative research and development agreement with Los Alamos National Security, LLC, which will initially be used for cholera, tuberculosis and malaria diagnosis. More information on Biomagnetics Diagnostics Corp. can be seen at www.Biomagneticsbmgp.com