Zomedica Expands TRUFORMA Addressable Market with Launch of Equine Cortisol Assay for the Platform

First-of-its-kind stall-side testing to enable rapid, life-saving decisions for equine veterinarians

ANN ARBOR, MI / ACCESSWIRE / June 27, 2024 / Zomedica Corp. (NYSE American:ZOM) (“Zomedica” or the “Company”), a veterinary health company offering diagnostic and therapeutic products for equine and companion animals, today announced the commercial launch of its second equine focused assay – Cortisol for equine serum – for the point-of-care TRUFORMA^® diagnostic platform.

“Cortisol measurement is crucial for assessing the health of sick foals and has never been available at the point of care until now,” stated Dr. T.J. Barclay, a Professional Services Veterinarian for Zomedica. “Traditionally, equine veterinarians have had to send samples to reference labs and potentially wait several days for results – often receiving them too late to make critical treatment decisions. Our new assay will bring a valuable diagnostic tool for equine veterinarians to use in-clinic and stall-side, empowering them to make real-time, potentially life-saving treatment decisions.”

The first days of a foal’s life can be the most challenging, as illness during this time can cause a foal’s health and survival chances to change rapidly. Equine veterinarians, especially those involved with reproduction, require the best diagnostic tools available at the point of care to assess and properly manage foal health. Being able to measure cortisol in foals in minutes, as opposed to days, could allow these veterinarians to make life saving decisions in situations where time and accuracy matter greatly. The TRUFORMA device, known for its compact, easy-to-use, and durable design, is perfectly suited for the unique challenges faced by equine practitioners.

“The ability to obtain stall-side cortisol measurements in horses, particularly in sick newborn foals, will be a game-changer for equine vets,” stated Kelsey Hart, DVM, PhD, DACVIM (LAIM). “This information will allow us to make a diagnosis of CIRCI (critical illness-related cortisol insufficiency) in real-time and start hydrocortisone replacement therapy as quickly as possible in sick horses and foals.”

“Following the successful launch of our first equine assay, endogenous ACTH, late last year, we are excited to introduce the equine Cortisol assay for our TRUFORMA platform,” stated Larry Heaton, Zomedica’s Chief Executive Officer. “The positive feedback from veterinarians on the first equine assay has been encouraging, and we are excited to provide another powerful tool that enhances point-of-care diagnostics. With several hundred thousand foals born each year in the United States alone, this assay will not only be a benefit to veterinarians and the foals they care for but will also expand the market for the TRUFORMA system amongst equine veterinarians.”

The TRUFORMA platform addresses a $1.5 billion annual recurring revenue opportunity in the US, and with CE marking secured in June, is now positioned to expand into the European veterinary diagnostics market, which is forecast to surpass $3.6 billion by 2028.

The TRUFORMA Cortisol assay for equine serum will be available for veterinarians to order directly from Zomedica in July. To learn more about the TRUFORMA diagnostic platform and its innovative use of BAW technologies, please visit Zomedica’s website at zomedica.com/truforma.

About Zomedica

Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary health company creating products for horses, dogs, and cats by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio includes innovative diagnostics and medical devices that emphasize patient health and practice health. Zomedica’s mission is to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.zomedica.com.

Follow Zomedica

• Email Alerts: http://investors.zomedica.com
• LinkedIn: https://www.linkedin.com/company/zomedica
• Facebook: https://m.facebook.com/zomedica
• X (formerly Twitter): https://twitter.com/zomedica
• Instagram: https://www.instagram.com/zomedica_inc

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company’s products, the Company’s ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition.

Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: continued growth of sales, the outcome of clinical studies, the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work including the development of new cartridges; uncertainty as to the timing and results of verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to successfully integrate acquisitions; uncertainty as to our ability to supply products in response to customer demand; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products, including the TRUFORMA Cortisol assay for equine serum; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR+ at www.sedarplus.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Investor Relations Contact:

Zomedica Investor Relations
investors@zomedica.com
1-734-369-2555

SOURCE: Zomedica Corp.

View the original press release on accesswire.com

View the original press release on accesswire.com