SciMed Technologies In The News
4/28/2005
SCIMED LABORATORIES ACHIEVES MAJOR MILESTONES – RECEIVES COMMERCIAL KITS AND AGREES FOR DISTRIBUTION RIGHTS
Edmonton, AB, April 28 2005 - SciMed Laboratories Inc. is pleased to announce the Company has received the first of multiple lots of SciMed’s lead products, VitaKit A and VitaKit D, from it’s manufacturer Medicorp (Montreal, Quebec).
SciMed’s diagnostic kits for vitamin A and vitamin D analysis will be initially marketed to the fluid milk dairy industry. The current method to detect vitamins A & D in milk takes more than a week to perform and requires skilled lab staff using expensive equipment to perform the analysis. SciMed’s VitaKit products will allow this analysis to be done at a fraction of the current price, on-site and in less than 2 hours.
SciMed is also working with a European diagnostic company to distribute and market the VitaKits in over 45 Western Europe countries. A distributor, is to be appointed in the near term for New Zealand and Australia as well. Distributors are to be confirmed for North America and other areas in due course. “We decided to launch first in Europe as it represents a large market and revenue opportunity and to geographically stage the roll out of these important products” stated Garth Likes, VP of Business.
“Reaching these important milestones were objectives in our plans supported by AVAC and The National Research Council of Canada’s IRAP Program. This milestone allows us to move our commercialization agenda forward and target research activities to develop our “Nutrichip” pipeline products,” said SciMed’s founder & CEO, Dr. Rajan Gupta. “We have established a strong research program for our ‘nutrichip’ concept, which is based on a wider application of advanced micro diagnostic systems and nanotechnologies for nutritional analysis”.