NIR Diagnostics Provides Update On Strategic Alliance With Shaklee Corporation

CAMPBELLVILLE, ON, Aug. 4 /CNW/ - NIR Diagnostics Inc. (TSX Venture: NID - News), a leading-edge developer of handheld spectroscopy based medical instruments, announced today that it is proceeding towards successfully closing the previously announced strategic alliance transaction with Shaklee Corporation, having received shareholder approval at a special meeting of shareholders on July 28, 2006. The strategic alliance is expected to close on August 9, 2006, at which time the first milestone payment of $2 million will be advanced by Shaklee to NIR Diagnostics.

Back to news