Zenosense Inc (OTCMKTS:ZENO) Proves That Innovation Is The Key To Winning

Zenosense Inc (OTCMKTS:ZENO) is back in the news for the right reasons this time around. Following the dip in its price from $0.54 to $0.25, the stock has stepped up its game and bounced back to $0.42. The question investors now need an answer to is “will the company keep up this performance?” In this article, we provide you with details on Zenosense Inc and how its management has made moves to keep up this rise in its value.Below is the stock’s price movement for the past year: ZENO Chart DailyCompany ProfileZenosense Inc. was founded in 2008 and is headquartered in Valencia, Spain. The firm’s primary focus, through its joint venture ownership in MIDS Medical Ltd., is the development of a cost-effective, hand-held Point of Care rapid cardiac diagnostic device, MIDS Cardiac. MIDS Medical Ltd. applies patent-protected magnetic nanoparticle detection technology and a development team with world-class technical expertise. The MIDS Cardiac device and test strip are being designed to support a variety of rapid high sensitivity cardiac biomarker tests, with a focus on troponin I and T, to identify or discount Acute Myocardial Infarction with accuracy equal or superior to high sensitivity assays performed on laboratory analyzers. The company was formerly known as Braeden Valley Mines, Inc. and changed its name to Zenosense, Inc. in November 2013.Recent DevelopmentsZenosense, Inc. recently announces that its MIDS Medical Limited joint venture (MML") based at Sci-Tech, Daresbury (UK), has completed initial testing of its "Hybrid Strip" system.The MIDS Hybrid Strip system replicates, as closely as possible, a fully integrated Lab on Chip (LoC) MIDS test strip set-up. Testing was conducted on both the assembled Hybrid unit and its electronic and microfluidic components separately, focusing mainly on the electronics of the magnetic sensing system.Initially, a single 100µm (pure magnetite) particle was used to tune the magnet set up and electronic processing system coarsely. This particle produced a relatively large signal to noise ratio (SNR) of around 10:1, making it relatively easy to work with.Subsequent testing revealed that low volumes of smaller, assay sized beads produce lower SNRs. The assay beads tested contain significantly less magnetic material per capacity (due to composite bead construction and voids between them). Consequently, it was necessary to filter the inherent electronic noise further to isolate the magnetic detection signal in a very high amplification environment, to increase the SNR.MML methodically addressed this highly complex problem by improving the noise filtering and applying shielding & electronic component refinements, thereby achieving roughly 60% net improvement in the SNR, to acceptable levels.Testing was carried out by presenting reducing amounts of a variety of commercially available assay beads and nanoparticles to the Hall sensing electronics by a micropipette dosed carrier. MML tested seven assay bead samples from four leading manufacturers, generally in size range of 0.5µm to 5 µm. These were mainly composite beads selected for their uniformity and handling characteristics, but having less than ideal magnetic values to challenge the detection system. Also, one sample of coated magnetite beads with more easily detected, higher magnetic benefits, was also tested. Ultimately, a bead type with the ideal combination of assay suitability and magnetic value will be selected for an assay to be embodied on the MIDS LoC test strip.Earlier in March, MIDS Medical Limited, ZENO’s joint venture based in Sci-Tech, Daresbury (UK), engaged Future Diagnostics Solutions B.V. for assay development services.Future Diagnostics is an independent, internationally oriented and certified service provider focused on the medical diagnostics and device industry based in Wijchen, the Netherlands.Future Diagnostics is specialized in full IVD immunoassay development, biomarker qualification, point of care test development, and OEM contract manufacturing. Future Diagnostics offers flexible support in feasibility & optimization, verification, technical transfer, and validation. Its FDA-registered facility is fully compliant with all regulatory requirements to manufacture IVD products or assays going to market.Future Diagnostics has developed assays for several of the world's largest multi-national diagnostics companies and has recent experience in new troponin assays. It also has expertise in additional areas key to MML, including paramagnetic particle-based assays, POC, and automated platform based technologies.During the current testing and development phase, MML will utilize Future Diagnostics' consulting services to inform its development team of the MIDS design parameters regarding a future cardiac assay(s), planned to be embodied in a test strip in the second phase of development. This early access to Future Diagnostics' expertise is expected to greatly assist MML in design areas such as microfluidic and magnetic detection optimization for MML's planned high sensitivity troponin assay.MIDS Medical Limited had in the same month completed the first phase of quantitative testing on its primary bench reader and conducted the preliminary trial on a secondary bench reader designed to examine two methods of magnetic nanoparticle detection.Priority testing was conducted on a second iteration of the first test rig designed to simulate MML's "Lab-on-Chip" detection method. Progressively smaller sample volumes, from 400 NL down to 25 NL of 15.2 nm magnetite nanoparticles in 5 mg/ml aqueous solution, were dosed into sample wells located in a "test slide" and detected on the test rig. The tests indicated that there was an excellent correlation between regular system output signal levels and sample drop volume and good output signal levels, at the slightest sample volumes.MML is delighted with these results which meet a crucial development milestone in proving the principle of quantitative detection.Company FinancialsA quick look at the firm’s statement of comprehensive income reveals that expenses have remained in the same range of $0.15 million from 2014 to 2016. With no revenues recorded within the period, the firm had a net loss of $0.25 million in the year.The firm is very highly leveraged with a significant portion of its liabilities as short and long-term debts which are likely to accrue interests. Its very low liquidity of 0.04 means the firm is expected to raise new cash soon from shareholders or creditors.ConclusionZENO has shown enough potential to increase its market share and maintain its commitment to enhancing shareholder value.We will be updating our subscribers as soon as we know more. For the latest updates on ZENO, sign up below!Disclosure: We have no position in ZENO and have not been compensated for this article.