MISSISSAUGA, Ontario -- CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH), developer of the ultra-sensitive QL Care™ Point-Of-Care (POC) analyzer and products for the immunoassay segment of the In-Vitro Diagnostics market, announced that the Company has entered into an agreement with Burrill LLC, the life sciences merchant banking arm of Burrill & Company, pursuant to which Burrill will assist the Company in developing strategic partnerships including with respect to its QL Care™ Analyzer and its core proprietary microsphere technologies.

"We are truly pleased to be working with Burrill in connection with CardioGenics' strategic endeavors," stated Yahia Gawad, CEO of CardioGenics. "Burrill is a recognized leader in life sciences merchant banking and we are confident that our new relationship with Burrill will present CardioGenics with important strategic opportunities," continued Gawad.

"Burrill has been a long-term participant in diagnostics and personalized medicine, advising and investing in companies with potentially groundbreaking technologies. We believe CardioGenics' robust, proprietary technology platform will enable the company to be a leader in the shift from centralized lab diagnostic testing to the point-of-care, and we look forward to working with the company," stated Anton Gueth, Managing Director of Burrill LLC.