ASTROTECH CORPORATION Announces Advancement in Detection of Lung Infections
23 November 2022 - 4:00AM
– Astrotech Corporation (Nasdaq: ASTC) (the “Company” or
“Astrotech”) subsidiary, BreathTech Corporation (“BreathTech”),
announced today that, based on analysis of data from testing of
breath samples procured during our library development, the
BreathTest-1000TM lung disease screening instrument can clearly
distinguish between infected and healthy breath samples. The
BreathTest-1000 is a breath analysis tool designed to screen for
volatile organic compound metabolites found in a person’s breath
that could indicate they may have a bacterial or viral infection.
“The BreathTech team is working diligently to develop the
BreathTest-1000 and the sampling method that will be used to
collect infected breath. We have made significant progress
collecting both diseased and blank breath samples that are required
to train the artificial intelligence and machine learning (AI/ML)
detection library. We plan to continue this process until the
confidence level of the detection algorithm meets the criteria
needed to obtain approval from the U.S. Food and Drug
Administration. The progress we have made in the development of the
breath collection, detection, and AI/ML methods indicates that the
BreathTest-1000 detects diseases related to COVID-19 infection. As
our next step, we plan to collect additional diseased and blank
breath samples so that the artificial intelligence system can learn
to detect against diverse and challenging breath backgrounds,” said
Thomas B. Pickens III, CEO of Astrotech and BreathTech.
To assist in the development of the BreathTest-1000, BreathTech
has entered into development contracts with Cleveland Clinic,
Mountain View Clinical Research, and Tools for AI, Inc. Cleveland
Clinic is contracted to provide breath samples for several
respiratory diseases including COVID-19, Mountain View is
contracted to provide diseased and non-diseased breath samples, and
Tools for AI is managing the artificial intelligence
initiative.
About the
BreathTest-1000™
The BreathTest-1000 is a ruggedized and simplified mass
spectrometer that has been designed to provide an inexpensive,
non-invasive screening device for a variety of diseases, including
COVID-19, that can offer results on-site in a short period of time.
We expect our target market will include doctors’ offices,
hospitals, nursing homes, schools, the workplace, and other densely
populated locations.This press release contains information about
our new product under development, BreathTest-1000. Product
development involves a high degree of risk and uncertainty, and
there can be no assurance that our new product will be successfully
developed, achieve its intended benefits, receive full market
authorization, or be commercially successful.
About Astrotech
Corporation
Astrotech (Nasdaq: ASTC) is a mass spectrometry company that
launches, manages, and commercializes scalable companies based on
its innovative core technology through its wholly-owned
subsidiaries. BreathTech is
developing a breath analysis tool to provide early detection of
lung diseases. For more information, please visit
www.astrotechcorp.com.
This press release contains forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that
could cause actual results to be materially different from the
forward-looking statement. These factors include but are not
limited to regulatory approvals required to market our products
under development in the United States or abroad, whether the
market will accept our products and services as well as other risk
factors and business considerations described in the Company’s
Securities and Exchange Commission filings including the Company’s
most recent Annual Report on Form 10-K. Any forward-looking
statements in this document should be evaluated in light of these
important risk factors. Although the Company believes the
expectations reflected in its forward-looking statements are
reasonable and are based on reasonable assumptions, no assurance
can be given that these assumptions are accurate or that any of
these expectations will be achieved (in full or at all) or will
prove to have been correct. Moreover, such statements are subject
to a number of assumptions, risks and uncertainties, many of which
are beyond the control of the Company, which may cause actual
results to differ materially from those implied or expressed by the
forward-looking statements. In addition, any forward-looking
statements included in this press release represent the Company’s
views only as of the date of its publication and should not be
relied upon as representing its views as of any subsequent date.
The Company assumes no obligation to correct or update these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
Company Contact: Jaime Hinojosa, Chief Financial Officer, Astrotech Corporation, (512) 485-9530
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