HUNTINGTON BEACH, Calif., June 30, 2005 (PRIMEZONE) -- WayPoint Biomedical, Inc., a wholly owned subsidiary of WayPoint Biomedical Holdings, Inc. (Pink Sheets:WYPB), is an innovative new biomedical firm with diagnostic tests and devices for screening and monitoring human health, fitness and environment. Founded in May of 2004, WayPoint's management team brings over sixty years of biomedical and diagnostic industry experience to the table. The management group is leveraging their extensive professional contact network to locate, develop, and position both existing and new diagnostic test technologies, targeting the professional, institutional, and retail consumer global markets. Through existing exclusive research and development relationships, WayPoint has acquired superior, globally recognized technology that is incorporated in their unique range of medical diagnostic test kits and devices. WayPoint ensures that all of its products are of the highest quality and will meet all regulatory guidelines and criteria necessary wherever they are marketed and sold. For more information please visit www.WayPointBiomedical.com
Product Overview
The Company has numerous product lines either completed or under development in the medical diagnostic and bio-defense arenas.
The Drink Detective(tm):
As WayPoint's first new product, The Drink Detective(tm) is a highly innovative rapid drink spiking test, used to detect over 60 different date rape drugs, including: Ketamine, GHB, and the Benzodiazepine drugs (e.g. Rohypnol(r) and Valium(r)). For more information please visit www.drinkdetectiveusa.com.
Homeland Security Products:
With the ever-growing global threat of terrorism, WayPoint has identified an innovative new technology for the Homeland Security and Defense market sector. First Responders must be equipped with simple and accurate detection devices that can provide clear and concise results quickly. Our planned Frontline Biological Detector Kit will address this need by rapidly screening for the presence of explosives, Ricin, Anthrax, organics, biological species, chemical warfare, and chemical pre-cursors.
Diagnostic Point of Care (POC) Products:
WayPoint's first product introductions into the POC arena will include a range of Urine Reagent Strip Tests for the semi-quantitative determination of glucose, bilirubin, protein, pH, blood, ketone, urobilinogen, nitrite, specific gravity, vitamin C and leukocytes in urine. These urine reagent strips yield clear and accurate results in as little as 30 seconds.
Over the Counter (OTC) Products:
WayPoint has identified the need to provide low-cost, at home screening tests. Our Health Essist(tm) Self-Testing product line offers sensible, cost-effective solutions to help reverse the escalating costs of health care. Our initial Health Essist(tm) product line is planned to consist of: Diabetes & Ketone Home Screening Tests, Drug-Free Center Multi-Test Kits, a Urinary Tract Infection Kit, and Alcohol Test Kits.
International Products:
A series of unique and easy-to-use, rapid tests for infectious diseases in the international POC and OTC Self-Testing markets will headline WayPoint's initial range of tests. This highly innovative, self-contained kit range includes tests for: Chlamydia, Gonorrhea, Yeast Infections (Candida), and Strep A. Additional rapid tests for Syphilis, Hepatitis, Bird Flu, Influenza A & B (w/ RSV), Malaria, Dengue Fever, TSH, Neural Disorder, and Down Syndrome will help comprise the international range.
Management Overview
The foundation of WayPoint Biomedical is a strong executive management team. With extensive industry and senior management experience, the WayPoint executive team includes Dennis Shepherd as CEO, Bret Hendzel as President and COO, and Phill Richer as the Global Director of Sales and Marketing.
Market Overview and Competitive Analysis
The global pharmaceutical and biotechnology market is estimated to be valued at $447.5 billion in 2004, growing at approximately nine percent. The Asia-Pacific and Latin America markets should grow significantly in the next 5 to 10 years and increase their presence in the global pharmaceutical landscape. While the U.S. market (estimated to contribute 41 percent of worldwide pharmaceutical sales in 2004) continues to set the pace, Europe and Japan are also major players, combining to contribute about 39 percent of global pharmaceutical sales in 2004.
With the current estimated global In Vitro Diagnostic market size at $28 billion, WayPoint intends on entering two of the most dynamic segments, the Over the Counter Self-Testing sector, and the Clinical Point of Care segment. With and estimated size of $1.5 to $2.0 billion, the OTC Self-Testing market is expected to more than double by 2007. A driving force stimulating this incredible growth is the trend toward preventative healthcare as a primary focus in medical intervention. As a result, home based self-testing is becoming an increasingly important component of preventative medicine, as individuals become more involved and aware of their health. The $3.8 billion diagnostic POC market is also experiencing rapid expansion and is projected to top $5.5 billion by 2009. WayPoint also intends to enter the rapidly expanding Homeland Security and Defense sector. The United States makes up roughly half of the expansive $180 billion global Security and Defense market segment. This industry sector is projected to nearly triple over the next ten years.
The healthcare industry is composed of leading Fortune 100 companies and a host of lesser-known independent firms. Leading the list of well known pharmaceutical firms providing Over the Counter HealthCare products are Merck (NYSE "MRK"), Bristol Myers Squibb (NYSE "BMY"), Pfizer (NYSE "PFE"), Eli Lilly (NYSE "LLY"), Glaxo Smith Kline (NYSE "GSK"), Novartis (NYSE "NVS"), Schering Plough (NYSE "SGP"), Johnson and Johnson (NYSE "JNJ"), Bayer AG (NYSE "BAY"), Sanofi Aventis (NYSE "SNY") and Abbot Labs (NYSE "ABT").
The $28 billion dollar In Vitro Diagnostic Healthcare Industry is highlighted by the following firms providing unique and essential diagnostics products or components: Quidel (NASDAQ "QDEL"), AMDL, Inc. (NASDAQ "ADL"), PolyMedica Corp. (NASDAQ "PLMD"), Gen-Probe, Inc. (NASDAQ "GPRO"), Biomerica (OTC-BB "BMRA"), American Biomedica Corp. (NASDAQ "ABMC"), BD Diagnostic (NYSE "BDX"), Beckman Coulter (NYSE "BEC"), Dade Behring Holdings (NASDAQ "DADE"), Roche Holdings (NASDAQ "RHHVF"), Diagnostic Products, Inc. (NYSE "DP"), Chiron (NASDAQ "CHIR").
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding WayPoint's performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, the success of enhancements to WayPoint's brand image, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. WayPoint Biomedical does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Websites: www.waypointbiomedical.com and www.drinkdetectiveusa.com.