Press Release: Source Biomagnetics Diagnostics Corporation

Biomagnetics Diagnostics Corp. and How its Technology Will Change Diagnostics Testing Forever Friday February 29, 6:00 AM ET

ORANGEVALE, Calif.--(BUSINESS WIRE)-February 29, 2008--Biomagnetics Diagnostics Corp. (OTC: BMGP - News)announced today a necessary review of its core technology.

President Clayton Hardman felt it is important to expand on our last press release and point out the cost and practical advantage of our HTS-MTP diagnostics system.

Today, the laboratory wholesale cost of a confirmatory (Western Blot) test is between $35 and $50. The same cost for a screening test is between $2.5 and $5. However, any positive or indeterminate result must be confirmed by a Western Blot test. So that brings the wholesale cost of testing each infected person between $37.50 and $55.

On top of that, an infected person is often given periodic viral load tests, which measures the amount of virus in his/her body. Viral load tests are important for designing treatments and measuring their effectiveness. The wholesale costs for viral load tests are $80 to $120.

The advantage of our HTS-MTP system is that it performs the screening, confirmatory and viral load test in a single function for the single cost of $2.50; a tremendous savings to a health care system. The HTS-MTP is the only diagnostics system that performs all three functions in a single test. Plus, unlike most testing systems, the HTS-MTP can measure the presence of the disease

How our HTS-MTP system works using a test tube and the HIV virus as an example.

-- The bottom of a test tube is coated with antibodies that have an affinity to the HIV virus.

-- A sample of fluid extracted from a patient is placed in the tube.

-- Fluorescence dye is introduced into the test tube

-- A second group of antibodies that have been attached to magnetic micro-spheres are added to the fluid.

-- If the HIV virus is present, it will bind to both sets of antibodies and be drawn to the bottom of the test tube.

-- Magnetic sensors located directly underneath the test tube measure the magnetic resonance of the micro-spheres; the strength of this field determines the number magnetic particles giving us quantitative results.

-- An Optical Reader measures the wavelength of the fluorescence attached to the antigen if present, providing redundancy and the technicians know within minutes whether the virus is present, and in exactly what quantity.

The superiority and cost effectiveness of the HTS-MTP system makes Biomagnetics Diagnostics Corporation's process very attractive in the rapidly growing in vitro testing industry!

About Biomagnetics Diagnostics Corporation

Biomagnetics Diagnostics Corporation, through its wholly owned subsidiary, Biospectrum Technologies, Inc., a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies, and highly specific and sensitive assays that are qualitative (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.

For more information please visit: www.biomagneticsbmgp.com

Forward-Looking Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

Contact: Paul Hardman, (916) 987-7078
Source: BioMag Corp.