Austin, Texas, Nov. 22, 2022 (GLOBE NEWSWIRE) -- – 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
