QuantRx Biomedical Corporation, a broad-based diagnostic company focusing on the development and commercialization of innovative diagnostic products, has entered into a two-year agreement with VetRed BV for the European distribution of products developed by QuantRx (QN Diagnostics) for veterinary applications. This is the first distribution agreement for QuantRx (QN Diagnostics) in the animal healthcare market and marks the commercial launch of its first product developed for the segment.

Privately held VetRed will begin to market QuantRx’s newly developed thyroid panel diagnostic kit accompanied by the QV-Reader. A thyroid panel is a diagnostic testing process used to evaluate thyroid gland function and diagnose thyroid disorders. The hormones produced by the thyroid travel through the bloodstream and impacts metabolism.

“This announcement reflects important progress for QuantRx in the launching of new products for new vertical markets, along with the introduction of another revenue stream to complement our efforts in human diagnostics,” said Walter Witoshkin, chairman and CEO of QuantRx. “Thyroid testing is one of the largest and fastest growing segments of the animal healthcare market. Our new products leverage our multi-faceted point-of-care technology platform to deliver radically new procedures and more effective diagnostic applications. VetRed is a well respected distributor focusing on medical technology for the veterinary market in the European Union. Our agreement with VetRed in Europe is just the first strike by QuantRx in the veterinary market as we are completing distribution agreements in North America, the largest region in the world for veterinary products. We believe these agreements will have a significant impact on both our short term and long term revenues.”

“We are very excited about becoming QuantRx’s liaison in Europe. QuantRx has unique, proprietary technologies that allow veterinarians to run in-clinic assays, which were not available before, along with other beneficial testing processes,” said VetRed chief executive officer Floris de Haan, DVM. “In-clinic diagnostics has been the fastest growing segment of veterinary medicine with the most potential for the foreseeable future. New medical technologies and applications, such as those being developed by QuantRx (QN Diagnostics), are opening new avenues for veterinarians to expand their practices with reliable diagnostic procedures.”

Through its network of agents and local distributors, VetRed is well positioned to assist QuantRx in assuring its products reach all European Community member nations. Europe is second only to the United States in the number of feline and canine pets with approximately 52 million dogs and 66 millions cats, according to a recent survey by NAVC. With an addressable market estimated to be in excess of US$ 4 billion, sales of animal health products in the European Union’s 27 member countries represent well over a quarter of the global market value.

VetRed is a fast growing participant in the EC veterinarian supplies market. Based on the success of its 2009 introduction of the Pandora Slide Strainer, a tabletop fully automated unit intended to replace microscope evaluations, VetRed has been pursuing the addition of select products for its distribution channels. The company is led by an industry veteran with more than 25 years of accomplished veterinary sales experience. VetRed has representation in all regions of the EC.

QuantRx Biomedical Corporation is focused on the development and commercialization of innovative products for advanced diagnosis of serious disease and health conditions.