Navigation Links
StatSure Signs Strategic Financing and License Deals with Inverness Medical Innovations
Date:10/17/2007

FRAMINGHAM, Mass., Oct. 17 /PRNewswire-FirstCall/ -- StatSure Diagnostic Systems, Inc. (OTC Bulletin Board: SSUR) today reported receipt of a $500,000 strategic investment from Inverness Medical Innovations, Inc. (Amex: IMA). In connection with this financing, StatSure and Inverness signed two additional agreements. First, the two companies signed an agreement whereby Inverness acquired an option to the exclusive, worldwide marketing and distribution rights to certain infectious disease diagnostic tests developed by StatSure that may utilize specified Inverness and/or StatSure intellectual property. If exercised by Inverness, the option provides for StatSure and Inverness to equally share development expenses and profits. StatSure and Inverness also entered into a license agreement whereby Inverness granted to StatSure a license to certain Inverness lateral flow patents for use in a rapid test to detect HIV antibodies in point-of-care markets subject to payment of royalties to Inverness. This license pertains to HIV tests using formats other than the StatSure's "barrel format" which is already being sold by Inverness and awaiting a CLIA Waiver from the FDA.

The strategic investment consists of a purchase of 1,428,572 common shares at a price of 35 cents per share. Additionally, Inverness received 5 year warrants to purchase up to an additional 1.1 million shares of the Company's stock at a price of 75 cents per share. The proceeds of this investment will be used for general corporate purposes and to fund development of other infectious disease applications for the Company's patented test format.

Steve Peltzman, StatSure's CEO and Chairman, stated: "We are delighted with the opportunity to broaden and strengthen our strategic relationship with Inverness and hope to take full advantage of these opportunities to build revenues, market share and profits."

SSUR believes it is now poised to become a key participant in the point- of-care market for infectious disease tests. The Company believes it has the simplest, safest and most reliable product platform that meets the needs of the public health clinics, doctors offices, military, insurance industry, hospitals, and potential OTC markets.

ABOUT STATSURE

StatSure Diagnostic Systems, Inc. (OTC Bulletin Board: SSUR) is engaged in the development, manufacture and marketing of rapid immunoassay tests for the detection of sexually transmitted and other infectious diseases; in addition, the Company has developed and is marketing a product line of patented, oral- fluid collection devices. The Company's proprietary platforms provide significant customer benefits and competitive advantages as compared to similar products that are currently available. Improved accuracy, operator convenience, and reduced risk of infection from collecting and handling specimens, have been engineered into SDS products. All of the company's diagnostic tests are based on the same easy-to-use technology platform, thus facilitating the development of future products. Certain of these products are sold in the United States as well as internationally to various distributors for use in clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations. Please visit our website at http://www.StatSure.com

FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements within the meaning of the federal securities laws. These statements reflect StatSure's current views with respect to future events and are based on management's current assumptions and information currently available. Actual results may differ materially due to numerous factors, including without limitation, the future demand for HIV testing products; our ability to successfully commercialize the products; the intensely competitive environment in the relevant markets and the risks and uncertainties described in periodic reports filed by StatSure with the Securities and Exchange Commission under the federal securities laws, including periodic reports on Form 10-Q or Form 10-QSB, as applicable, for the period ended June 30, 2007. StatSure undertakes no obligation to update any forward-looking statements contained herein.


'/>"/>
SOURCE StatSure Diagnostic Systems, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine technology :

1. Cimzia Effective in Reducing Signs and Symptoms of Rheumatoid Arthritis
2. Myriad Genetics Presents Mathematical Comparison of Disease Modification Trial Designs at Alzheimers ConferenceCurrent Flurizan Phase 3 Study Design May Demonstrate Disease Modification
3. New Data Confirms Significant Improvement of Disease Signs and Symptoms in Patients with Rheumatoid Arthritis
4. First Study To Show Positive Benefit On Atherosclerosis For People With Early Signs Of Diseased Arteries
5. Answerthink and LORENZ Life Sciences Group Announce Strategic Alliance for the SAP Life Science Industry
6. Materia Licenses Metathesis Catalyst Platform to Eisai
7. Vical Licensee AnGes MG Announces Positive Results of Phase 3 Angiogenesis Trial in Japan
8. Geron Corp. Licensee TA Sciences Announces Landmark 7/07/07 Teleconference to Answer Questions About TA-65, Their Telomerase Activator With Proven Age Management Benefits
9. GlaxoSmithKline’s Hib-MenCY-TT Combination Vaccine Meets Phase II Study Endpoints of Immunogenicity and Safety Compared to Licensed Vaccines
10. CytRx Announces RNAi Delivery Nanoparticle Technology Exclusively Licensed to Subsidiary, RXi Pharmaceuticals, Described in Peer-Reviewed Journal
11. Mode of Action of EpiCept-Licensed Cancer Compound Profiled at AACR
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/17/2017)... Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential ... or the "Company") (NASDAQ: ANTH ). Such investors ... by visiting the firm,s site: www.bgandg.com/anth .   ... and/or directors have violated Sections 10(b) and 20(a) of the ... ...
(Date:1/17/2017)... DUBLIN , Jan 17, 2017 Research ... Ingredients/API Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, ... CVD) - Global Forecast to 2021" report to their offering. ... The global ... by 2021 from USD 157.95 Billion in 2016, growing at a ...
(Date:1/17/2017)... , Jan. 17, 2017  Zimmer Biomet Holdings, ... musculoskeletal healthcare , today announced that it ... the strength of the Zimmer Biomet management team. ... will assume the position of President, Americas ... Company. Mr. Delp previously served as Zimmer Biomet,s Vice ...
Breaking Medicine Technology:
(Date:1/17/2017)... ... January 17, 2017 , ... Metro Development Group has ... high speed technology into the fabric of an entire community. A highlight of ... and wellness in a yet-to-be-named, health focused campus. Leading this initiative in partnership ...
(Date:1/17/2017)... ... January 17, 2017 , ... ... education for EMS and firefighting professionals, has released four new continuing education courses ... courses are taught live in an online classroom and meet the requirements of ...
(Date:1/17/2017)... ... ... A prescription medication bottle, pocket knife, luggage and a solar-powered aluminum casting ... Challenge , the Cradle to Cradle Products Innovation Institute has announced. , ... run through early 2018. The challenges are presented by the Institute in partnership with ...
(Date:1/17/2017)... , ... January 17, 2017 , ... ... financial planning assistance to families and business professionals throughout central Colorado, is joining ... homeless families. , The Aurora Warms The Night organization is committed to breaking ...
(Date:1/17/2017)... ... January 17, 2017 , ... Seceon , ... threats in real-time, today announced a strategic partnership with TechLab Security, ... other Seceon partners, TechLab Security has become a strategic partner and a value ...
Breaking Medicine News(10 mins):