Press Release: Source Biomagnetics Diagnostics Corporation

Biomagnetics Diagnostics Corp. Subject of Cover Page Story in Prestigious BioMedReports Electronic Newsletter Tuesday October 13, 12:44 PM ET

SAN FRANCISCO--(BUSINESS WIRE)-October 13, 2009--Biomagnetics Diagnostics Corp. (OTC: BMGP - News) a producer of revolutionary diagnostic systems and technology for malaria, tuberculosis, HIV, and hepatitis testing, today announced the Company is the subject of a cover page story in the prestigious BioMedReports electronic newsletter and portal. BioMedReports covers medical news and the healthcare financial sector. The cover page story and associated audio interview can be viewed at http://biomedreports.com/articles/most-popular/12852-diagnostics-company-aims-to-change-lab-field-testing-otcbmgp.html.

“The information contained in the BioMedReports article and interview provides an excellent overview of our strategic and product directions. We are very excited about our entrance into the integrated optical biosensor market, especially relating to the malaria and bovine tuberculosis testing market,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics Corp. “We believe significant demand currently exists within this underserved market and we expect the size of the market opportunity to continue to expand over the coming years.”

According to the World Health Organization, some 3.2 billion people, or about half the world's population, is at risk of malaria transmission in 107 countries and territories worldwide. While there are between 350 million and 500 million new cases of malaria each year, there are very few reliable and field deployable diagnostic tools available. Early detection substantially improves treatability and survivability. Field deployable integrated optical biosensor systems, such as those under development at Biomagnetics Diagnostics, hold the promise to significantly speed the diagnostic testing process and to meaningfully lower costs.

About Biomagnetics Diagnostics Corporation

Biomagnetics Diagnostics Corporation, through its wholly owned subsidiary, Biospectrum Technologies, Inc. is a company that has patented revolutionary diagnostic equipment and highly specific and sensitive assays that are designed to be qualitative, (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.

www.biomagneticsbmgp.com

Biomagnetics Diagnostics Corp
Clayton Hardman, 916-987-7078
Joe Noel, 925-922-2560