Companies to Collaborate on Next Generation Laboratory Instruments
MENLO PARK, Calif. and NORWOOD, Mass., Jan. 29 /PRNewswire/ -- Cantimer, Inc. and Advanced Instruments, Inc. today jointly announced that Advanced Instruments Inc. has made a $1 Million equity investment in Cantimer. The two companies further announced their intention to collaborate on the development of a new generation of laboratory instruments for osmolality measurement, incorporating Cantimer's proprietary sensing technology.
"We are excited by the prospect of working with Cantimer to apply its innovative sensing technology to a new generation of laboratory osmometers", said John Coughlin, CEO of Advanced Instruments. "We have been impressed by what the company has accomplished to date and see great potential in the relationship," he added.
Cantimer's focus over the last several months has been on completing the development of an easy-to-use, hand-held device for the quantitative assessment of human dehydration from saliva. Cantimer's device, when available, is expected to facilitate convenient and reliable monitoring of the at risk population - including firefighters, military personnel, athletes at every level, infants and the elderly - providing critical early intelligence and thereby enabling timely and effective intervention at the point of need.
"We are delighted to have Advanced Instruments as an investor and strategic partner", commented Robin Stracey, CEO of Cantimer, Inc. "Our interests are very complementary. We look forward to welcoming John to our Board and to a long and fruitful collaboration between our two companies."
About Cantimer, Inc.
Cantimer is a privately-held, development stage company commercializing a patented, proprietary sensor technology platform having application in life science, bio-defense, environmental testing, point-of-care diagnostics and home health markets. The Company's first focus is on development and commercialization of point-of-care products for convenient, non-invasive, measurement and monitoring of human hydration status from saliva.
About Advanced Instruments, Inc.
Founded in 1955, Advanced Instruments, Inc. is the world's largest supplier of freezing-point cryoscopes and osmometers used in dairy, clinical, pharmaceutical, and biotechnology laboratories. The Company is also a leading supplier of analytical instruments for the food and industrial microbiology markets. Based in Norwood, Massachusetts, USA, the privately held company also produces Fiske(R) Associates brand diagnostic instruments and operates Spiral Biotech, Inc., and Delta Instruments as wholly-owned subsidiaries. A worldwide network of direct sales people and independent distributors supports Advanced Instruments' products.
CONTACT: Robin Stracey, Chief Executive Officer of Cantimer, Inc.,
+1-650-474-0500, ext. 320, fax, +1-650-474-0599, email@example.com; or
John Coughlin, Chief Executive Officer of Advanced Instruments, Inc.,
1-800-225-4034, or +1-781-320-9000, fax, +1-781-320-8181,
Web site: http://www.cantimer.com/