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by Stockwatch Business Reporter

The TSX Venture Exchange gained 3.71 points to 825.60 Thursday. Nizar Bharmal's halted shell, Wolfeye Resource Corp. (WEY), has submitted a filing statement for its acquisition of Bionomics Diagnostics Inc. The shell, which has 9,570,260 shares issued, will issue 17.15 million shares to the target's shareholders. On closing of the acquisition, Wolfeye will change its name to LexaGene Holdings Inc.

Bionomics is working on a prototype for an automated device that detects pathogens in fluids. Pathogens are bacteria, viruses or other micro-organisms that can cause disease. Bionomics hopes to eventually sell the device to hospitals, where it could be used to speed up triage. Urine and blood tests take one to three days, but Bionomics's device would provide results in one hour. The device would also be compact and easy to use, even for non-medical professionals. Bionomics's shorter-term plan is to sell the product to food processing plants, where it could be used to test food safety. (It takes less time to obtain clearance from the U.S. Food and Drug Administration for a food safety product than for a medical product.) Other potential customers include water treatment plants, veterinary clinics, aquaculture farms and cruise ships. Users of Bionomics's product will need to buy single-use cartridges for the device.

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