The ZINO Life Fund investors liked Oasis for several reasons. The shorter path to exit and (Oasis CEO) Paul Slowey's passion for the business are two driving factors
Vancouver, WA (PRWEB) April 1, 2009
Oasis Diagnostics® Corporation ("Oasis") (http://www.4saliva.com), a rapidly emerging innovator in the field of saliva based diagnostic products, has received an investment award from a noted organization devoted to helping visionary entrepreneurs in the Pacific Northwest.
Oasis was selected by the Zino Society from among 12 candidates whose commitment to new technology stands out in the crowd. As part of the award, Oasis receives $50,000, important connections to accredited investors and support in the form of educational tools and resources that will support its growth. The award was announced March 24 during a ceremony at the Seattle Harbor Club.
"The ZINO Life Fund investors liked Oasis for several reasons. The shorter path to exit and (Oasis CEO) Paul Slowey's passion for the business are two driving factors," said Cathi Hatch, ZINO Society CEO and founder. "Another is the clear benefit Oasis brings to a patient. When looking at a company to invest in, we often ask what problem the company is solving or what is the pain point? Oasis literally takes the pain out of diagnostic testing."
At a first-ever Zino Life Sciences Investment Forum in February for the dozen candidates, Slowey emphasized the pain-free application of Oasis technologies by showing a photo of a young girl grimacing while having a blood sample drawn with a needle. This was contrasted with a photo of the same girl smiling while an equally effective salivary sample was drawn from her mouth with an Oasis collection swab.
"By the year 2010 health professionals and public authorities all over the globe will be using rapid non-invasive saliva to test for breast and other cancers, HIV, heart attacks, diabetes, TB, sleep disorders, drugs of abuse, general wellness, biowarfare agents, viral agents and many others. I cannot imagine an important professional sports event where the athletes are not tested for drugs of abuse immediately before game time and continually monitored for elite performance using saliva specimens. The most logical technologies to use are those developed by Oasis, which combine reliability with the capability to not only test for for four or five things at the same time but also include a patented two track system that also provides an archived salivary sample within the test platform for confirmation or future use." - Dr. Stephen J. Moss, Professor Emeritus New York University College of Dentistry.
Oasis CEO Paul D Slowey, PhD, told the audience that the Company has been "working diligently on our proprietary technologies for a number of years and this award by Zino Society is seen as recognition of the hard work and effort that has gone into developing a strong technology base, backed by solid intellectual property. We look forward to using the award and its resources to advance the commercialization of products in our current portfolio."
Zino screened potential investment candidates through a series of targeted business presentations to key individuals, culminating in the Investment Forum on February 24th, at which candidates were invited to present new technological innovations.
As was said by xconomy.com, a Web-based service that tracks business developments in new technology sector, "salivary diagnostics technology has improved enough in recent years that it can detect minute amounts of a foreign invaded, like HIV virus, which has 1,400 times the concentration in saliva than in blood." In fact, saliva is derived from blood, making it a close relative of the red body fluid traditionally used for such tests, and akin to a bloodstream for the mouth.
Oasis was founded by Slowey to create and bring to market high-quality tools for the non-invasive diagnosis and detection of diseases and conditions based on the analysis of salivary samples. The Company's cutting edge products include:
- Versi•SAL®, a saliva specimen collection device with a unique, built-in sample sufficiency indicator and the ability to collect multiple specimens from the same donor at the same time
- VerOFy®, a rapid diagnostic test platform that serves as an enabling technology for the development of immediate tests using saliva
- DNA•SAL™, a novel collection device specifically for the collection of saliva for subsequent extraction of DNA and RNA used in molecular diagnostic applications.
- Sali-Check, a drug testing system that enables immediate checks at the roadside, in schools, the criminal justice system and other situations in which quick, accurate results are needed.
With these technologies and others the Company is able to address each of the major in vitro diagnostic market segments that generate $46 billion annually in worldwide revenues. Oasis' development pipeline includes rapid saliva tests for diabetes, breast cancer, tuberculosis, anthrax immunity and drugs of abuse.
Always looking forward, the Company is now developing a strategy to carry out testing for lead in children. A huge problem, particularly in high-density urban environments where old lead paint chips from walls and windowsills and is consumed by young children, lead poisoning leads to many neurological problems and can be fatal. Slowey says that one approach under consideration would have dental offices as the point of collection. The Versi•SAL® device could be used to collect saliva, which would then be sent to a laboratory for testing. Eventually, Oasis VerOFy® technology could provide immediate results at the dental chairside.
Contact Information: Paul D Slowey PhD, CEO, Oasis Diagnostics® Corporation, Phone: (360) 546-1563