BioSpec Global Solutions Inc. Signs Letter of Intent with Beijing Titan Instruments Co., Ltd. for Multimillion Dollar Market
Published: Apr 19, 2010
NEW YORK and MONTREAL, April 19 /PRNewswire-FirstCall/ - BioSpec Global Solutions Inc., and partner ICBS Ltd. (OTCPK: ICBT), announced today that it has signed a letter of intent with Beijing Titan Instruments Co., Ltd for distribution in China of the TOGS(TM) 3000 bio-photonic incubation & detection systems, The TOGS(TM) 3000 has 100% accuracy in the detection of Total Coli forms and E. Coli bacteria in water.
"This will establish a gateway to the vast Chinese market" said Don Saunders, President and CEO.
World pressure on China over food and water safety is presently a good example of need for our type of detection system.
"The timing for commercialization is excellent. The World Health Organization has declared "safe drinking water is a human right" and the United Nations is struggling with its mandate to protect drinking water quality in over 100 million wells worldwide. Governments of the world are being pressured to conform to these directives" said Saunders.
Although the final sales numbers are not completed, BioSpec is facing a multi billion dollar market.
The TOGS(TM) 3000 has been verified by Ryerson University, Agriculture Canada and Saskatchewan Department of Health. It has been accepted for use for drinking water analysis by EPA in the USA when used in conjunction with our EPA approved reagent and method. The TOGS(TM) 3000 has been used in a research project by the World Health Organization in Hawaii and by OCETA in India. Agents and distributors are being established to set up a global marketing network.
The company holds worldwide patents on the TOGS(TM) 3000 and TOGS9000(TM).
NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.
CONTACT: Don Saunders, President & CEO, (514) 932-4402, www.icbs.ca;
Source: BioSpec Global Solutions Inc., www.biospecglobal.com