INVERNESS, SCOTLAND--(MARKET WIRE)--May 29, 2006 -- IVMD Inc, a novel medical device company (OTC BB:IVME.OB - News), today announced a refocus of its business towards commercial applications for its products.
IVMD has built a significant pipeline of proven applications with its science, and a strong patent portfolio to protect them in the marketplace. This has been achieved through the team of world class scientists in the field of magnetic measurement, signal analysis, software, and product development.
Its first product is in final stages of trials and should see Royalty revenues in late 2006, and this together with a recently announced funding round means that the company is free to concentrate on delivering commercial deals with major marketing and distribution partners to build further revenues.
Graham Cooper, Chairman, said, " During the development of the core technologies and applications the business has focussed inwardly and has delivered great results in a short time. With the success of our first product, being launched this quarter, we will increase our resources to look for other partners to build company value. We are actively recruiting commercial and project management expertise to allow this growth to happen.”
This refocus will require the recruitment of a strong commercial team, and dedicated partner project managers to continue the strong reputation that IVMD has for delivery of products into the marketplace.
About IVMD, Inc.
IVMD uses its proven, patented core technology to design, develop and test medical devices for near patient testing and monitoring.
Our products serve large global markets in the monitoring of chronic conditions affecting large numbers of the population. Two applications form the focus of current development work. The first is a device for measuring the coagulation of blood in patients with cardiovascular disorders, which is in the last stages of clinical trials. The second a device that predicts the onset of human labour up to several weeks before birth.
Our scientists are currently working on several exciting minimally and non-invasive additional products based on novel, highly sensitive immunoassays. From across all sectors of industry, our development team uses our technology to create rapid prototype and product development, in partnership with major marketing and distribution partners.
IVMD actively seek bespoke product development, manufacturing, marketing and distribution agreements.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words “believe,’' “expects,’' “projects,’' “forecasts,’' “intends,’' “will,’' “anticipated,’' “could,’' or “may,’' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the act and are subject to the safe harbor created by the act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties.
Contact: Contact: IVMD (UK) Ltd. Press@ivmd.com
Source: In Veritas Medical Diagnostics Inc.
