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:12/2/2016)... YORK , December 2, 2016 ... Braces & Support) is Expected to Gain a Significant Market ... to Orthopedic Ailments  ... , According to ... Study on Medical Implants Sterile Packaging: Clamshell Product Type Segment ...
(Date:12/2/2016)... On Thursday, the NASDAQ Composite and ... the Dow Jones Industrial Average managed to stay in green. ... which prompted Stock-callers this morning to look at the performances ... NUVA ), Smith & Nephew PLC (NYSE: SNN ... Cesca Therapeutics Inc. (NASDAQ: KOOL ). You can ...
(Date:12/2/2016)... -- The concept of rare diseases and the idea that ... has been taking shape in Europe ... initiatives related to orphan medicinal products have been emerging at ... states individually. Many member states in the EU have led ... medicinal products, the result of which took the shape of ...
Breaking Medicine Technology:
(Date:12/2/2016)... ... December 02, 2016 , ... The annual time frame to change Medicare health ... is ending December 7th. Currently-enrolled Medicare beneficiaries who are looking to switch from their ... D) need to make changes during this period order for their new policy to ...
(Date:12/2/2016)... (PRWEB) , ... December 02, 2016 , ... More than ... and while 84 percent of parents report speaking with their child about sex related ... sexually transmitted diseases. , Mediaplanet is proud to announce the launch of its second ...
(Date:12/2/2016)... ... December 02, 2016 , ... Sourced from the Isbre Springs beneath the 5,000 ... unmatched natural purity of just 6 ppm TDS (Total Dissolved Solids) in addition to ... been available in several ShopRite and FoodTown stores in NJ and received rave comments ...
(Date:12/2/2016)... Miami, FL (PRWEB) , ... December 02, 2016 ... ... over 5,100 hot meals to needy individuals and families from eight different sites ... Florida on Thanksgiving Day. Over 1,000 volunteers worked very hard on Thanksgiving morning ...
(Date:11/30/2016)... , ... November 30, 2016 , ... ... they now offer a comprehensive in-house dental plan for all patients. Understanding that ... a plan that gives patients a number of perks, including discounts on many ...
Breaking Medicine News(10 mins):