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[IP] A new smaller pump in our future?
I found the following news release that I thought might be of interest to everyone. Using micro
technology, designers may have an even smaller pump for us sometime in the future.
[B] FULL:Inverness Medical Tech, Debiotech in insulin pump mfg pact --
Inverness to pay $10mln to Debiotech for mfg rights
October 20, 2000 By BridgeNews
WALTHAM, MASS., OCT. 19 /PRNEWSWIRE/ -- INVERNESS MEDICAL TECHNOLOGY, INC. (AMEX: IMA) AND DEBIOTECH S.A., A
PRIVATELY OWNED SWISS COMPANY, TODAY ANNOUNCED THAT THEY HAVE ENTERED INTO AN AGREEMENT PURSUANT TO
WHICH DEBIOTECH WILL DEVELOP AN EXTERNALLY-WORN INSULIN PUMP USING DEBIOTECH'S PATENTED MICRO ELECTRO-
MECHANICAL SYSTEMS (MEMS) TECHNOLOGY. UNDER THE AGREEMENT, INVERNESS WILL HAVE THE EXCLUSIVE WORLDWIDE
RIGHT TO MANUFACTURE AND DISTRIBUTE THE PRODUCT. THE AGREEMENT REQUIRES INVERNESS TO PAY $10 MILLION TO
DEBIOTECH BY YEAR- END 2000 FOR THESE RIGHTS. INVERNESS WILL PAY A ROYALTY RANGING FROM 6.5% TO 10% OF SALES
DEPENDING UPON VARIOUS FACTORS. IN ADDITION, INVERNESS HAS THE OPTION TO ACQUIRE EXCLUSIVE WORLDWIDE RIGHTS
FOR AN IMPLANTABLE INSULIN PUMP UTILIZING THE DEBIOTECH MEMS TECHNOLOGY. THE AGREEMENT CALLS FOR DEBIOTECH
TO DEVELOP AN INSULIN PUMP SIGNIFICANTLY SMALLER THAN THOSE MOST WIDELY USED TODAY, WITH THE CAPABILITY TO
DELIVER DOSES OF INSULIN IN INCREMENTS AS SMALL AS 150 NANOLITERS AND TO TRACK PRECISELY THE VOLUME OF
INSULIN DELIVERED. Ron Zwanziger, CEO of Inverness stated, "This agreement provides us with an advanced technology that
is expected to enhance our efforts to provide products that offer a comprehensive and integrated approach to the self -
management of diabetes." Debiotech S.A., based in Lausanne, Switzerland, specializes in the development of innovative
medical devices. Inverness Medical Technology, Inc. develops, manufactures, and markets innovative products focused
primarily on diabetes self-management. The Company's proprietary glucose monitoring systems are marketed worldwide by
LifeScan, a Johnson & Johnson company. Inverness also markets other diabetes products as well as a line of women's health
products to consumers through its own established retail distribution networks including Wal-Mart, CVS and Walgreens.
Inverness Medical Technology, Inc.'s manufacturing facilities are located in Inverness, Scotland; Galway, Ireland; and Yavne,
Israel. European headquarters are located in Munich, Germany and U.S. headquarters are located in Waltham, Massachusetts.
This press release contains forward-looking statements, including statements about the funding of the proposed licensing and
development arrangements, the development of a proposed insulin pump and its features and the market acceptance of the
proposed insulin pump. Actual results may materially differ due to numerous factors, including without limitation technological
difficulties encountered in the development process and Inverness Medical Technology's ability to manufacture sufficient
quantities of the insulin pump, to obtain necessary regulatory approvals and successfully to commercialize the product.
Inverness Medical Technology, Inc. will release third quarter earnings on October 25, 2000 and will host a conference call
beginning at 9:30a.m. (Eastern Time) on that date to discuss these results. As part of the conference call, Inverness will also
discuss this announcement regarding the Company's agreement with Debiotech S.A. If you would like to participate in this
conference call, please dial 800-275-3210 (U.S. and Canada) or 973-628-6885 (International). Callers are advised to dial 10
minutes before the start of the call is scheduled to begin. A replay of the conference call will be available through October
27th by calling 877-375-1352 (U.S. and Canada) or 402-220-1374 (International). A live webcast (and an on-demand replay)
of the conference call will be available online at www.invernessmedical.com and www.streetfusion.com. For more information
about Inverness Medical Technology, Inc., please visit our website at www.invernessmedical.com. Press releases are also
available via fax by calling toll-free (888) 872-8679. SOURCE Inverness Medical Technology, Inc. /CONTACT: Doug Guarino,
Investor Relations, 888-872-8679, or Mary LouDiNardo, Media Relations, 212-572-0767 both of Inverness Medical
Technology,Inc./ End Copyright 2000 Bridge Information Systems Inc. All rights reserved.
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