LONDON, June 14, 2010 (GLOBE NEWSWIRE) -- Flex Fuels Energy, Inc. ("Flex" or the "Company") (OTCBB:FXFL) announced today that its subsidiary, BioAMD Holdings Ltd. ("BioAMD"), has established its headquarters at the prestigious Daresbury Science and Innovation Campus ("Daresbury SIC") in the United Kingdom. BioAMD is in the $12.6 billion Point-of-Care medical diagnostics industry.
The Daresbury SIC was recognised as the U.K.'s Outstanding Science Park in 2009. It is designed to foster the commercialisation of innovative, high-impact science, providing infrastructure, collaborative networking opportunities and support for the UK's best technology companies.
BioAMD is in the process of establishing its laboratory, also at the Daresbury SIC, for the development of its patented and patent pending Digital Strip Reader and Magnetic Particle Reader technologies to be applied to its planned range of hand held, low cost, medical diagnostic devices.
BioAMD benefits from the facilities and collaborative contact network of the Daresbury SIC. This includes nearly 40 leading-edge biomedical and advanced engineering/electronics and instrumentation companies, as well as the world-renowned Daresbury laboratory and the Cockcroft Institute (a key collaborator in the Large Hadron Collider project at CERN, the European Organization for Nuclear Research).
Dr. Nasr Djennati, M.D. of BioAMD, commented, "There is so much that happens when technology leaders from various fields are put together in the same building or same campus. Ingenuity grows. Commercialization flows. We are excited to call Daresbury Science and Innovation Campus our home."
Dr. Paul Treloar, Business Development Manager of the Daresbury SIC, added, "BioAMD is a really interesting company for us with some great technology and expertise in the field of Clinical Diagnostics. We are excited about the impact that this company can bring to this needy area as the demand for powerful diagnostics at point of care continues to grow. BioAMD is a great fit with, and complement to, the leading technology companies currently based at Daresbury. We welcome them and are eager to support the growth of their technologies and their business."
About Flex Fuels Energy, Inc.
Flex Fuels, through its subsidiary BioAMD Holdings Ltd., is in the Point-of-Care bio-medical diagnostics industry, a $12.6 billion growing market. BioAMD holds a patent portfolio for a suite of products currently under development including a digital strip reader for the home pregnancy test market, a blood coagulation device for patients on heart medicine, and a magnetic particle reader device for a range of diagnostic applications from cancer to heart disease. To find out more please visit www.bioamd.com or www.flexgp.com.
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Forward-Looking Statements
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Flex Fuels Energy, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.