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IVMD Inc. kicks off new commercialization initiative
Date:5/14/2008

- IVMD, Inc. (OTCBB: IVME; Frankfurt: I7VF)

INVERNESS, SCOTLAND, May 14 /PRNewswire-FirstCall/ - Following the successful balance sheet restructuring for IVMD Inc, the Board is now able to push forward plans to commercialize its existing technology platform and range of products in development, and is actively pursuing opportunities to grow the business.

Initially, the Board's focus is to seek commercial partners for the Company's newly developed digital pregnancy reader. To help with this initiative, the Company has entered into a managed partnering agreement with a major life science and biopharmaceutical business development company. This tie up will complement the Company's efforts in identifying suitable partnering candidates to work with IVMD Inc in making its' digital pregnancy reader market ready.

Commenting on the launch of the Company's commercial development initiative for the pregnancy reader, Mr. Graham Cooper, President and CEO for IVMD Inc, commented:

"Currently, over $700m is spent globally on pregnancy and fertility diagnostic devices. The market for these products is growing at 5% per year and is highly price sensitive. Using our unique patented technology, we have developed a device that both reduces manufacturing costs significantly, and which is more sensitive meaning that it can detect positive results earlier than those devices currently on the market. Significantly, the device is environmentally friendly as it does not rely on batteries for its power. All of these attributes play to the demands of manufacturers, distributors and end users.

The technology underpinning our digital pregnancy reader is capable of being adapted to suit a much wider variety of mass market tests, particularly applications of rapid immunoassay in point of care testing. This could include cardiac markers, allergy screening, fertility testing, drugs of abuse and infectious diseases. With are confident that our busin
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SOURCE In Veritas Medical Diagnostics Inc.
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