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Biomoda Announces Collaborative Agreement with New Mexico Tech, Dec. 12, 2007

Contact: John Cousins (505) 821-0875

ALBUQUERQUE, N.M., December 12, 2007 /PRNewswire-FirstCall/ -- Biomoda, Inc.of Albuquerque, NM, and New Mexico Tech reached an agreement today to collaborate on clinical studies and the development of specialized image recognition technology as part of the company’s commercialization of its assay for the early detection of lung cancer.

New Mexico Tech, in Socorro, NM, is a world leader in many areas of research, including biomedical, hydrology, astrophysics, atmospheric physics, geophysics, homeland security, information technology, geosciences, energetic materials engineering, and petroleum recovery. The university specializes in research, focusing on science, engineering and related fields.

“This new research and development collaboration between Biomoda and New Mexico Tech will enable university researchers and students to directly participate in the testing and development of cutting-edge technology which will soon be deployed in the fight against cancer,” said Daniel H. López, president of New Mexico Tech. “This new joint venture forged between a public university and a private business promises to be a win-win situation for all involved.”

“I am particularly pleased to announce our partnership with such a strong research and engineering partner as New Mexico Tech as we move towards commercialization of Biomoda’s early cancer diagnostic technology,” said John Cousins, President of Biomoda. “The scientists at New Mexico Tech offer a wide range of expertise in biomedical and engineering research programs that will be applied immediately in development of engineering technology for image recognition that is targeted at broad-based screening of large populations for lung cancer.”

Biomoda's patented technology, a non-invasive cytology based assay, is designed for cancer screening of large populations at a reasonable cost. Current diagnostic methods for lung cancer, including CT scans and X-rays, often detect the disease only at more advanced stages and are relatively expensive.

Lung cancer claims more lives than any other cancer. The expected 5-year survival rate for all patients combined in whom lung cancer is diagnosed is 15 percent and by contrast, the 5-year survival rate for cases detected when the disease is still localized is 50 percent. At the present time, only 16 percent of lung cancer cases are diagnosed at this early stage.

SOURCE Biomoda, Inc.