Picomole Instruments, a Moncton company developing a breath analysis device that detects cancer, yesterday announced that it has received approval from the U.S. Patent and Trademark Office and will patent the device.
Formerly called “LifeSens”, the device is currently unnamed because the company couldn't trademark that name.
Cormier said the patent notice allows the company to protect its proprietary technology as it develops clinical applications. He told Entrevestor that Picomole has completed a small pilot study on lung cancer and, encouraged by the results, is planning a larger study.
Efforts at fundraising are ongoing, he added. “We have several announcements planned that we believe will be of great interest to the investment community,” said Cormier, who said last year the company was working on a $500,000 raise.
A native of Moncton, Cormier founded Picomole in Edmonton, but decided to bring his venture back east in order to work with the Atlantic Cancer Research Institute.
The company’s easy-to-use, portable device is similar to a breathalyzer except it detects cancer rather than alcohol. It rapidly analyzes complex gas mixtures like exhaled breath, which contains trace compounds linked to cancers and other life-threatening conditions. The technology can analyze hundreds of volatile compounds found in breath at parts-per-billion levels and below.
The technology would allow doctors to quickly determine whether or not a person suffers from the disease. Someone testing positive would need further examination to locate the tumor; but someone testing negative – which is most patients - would be spared more procedures.
Given that the breath-analyzing device is an instrument rather than a drug, it could go to market fairly quickly and cheaply.
The company has been funded by friends, family and angels in Alberta and New Brunswick, and has tapped such government programs as SR&ED and the Industrial Research Assistance Program.