HUNTINGTON BEACH, Calif., Aug. 15, 2005 (PRIMEZONE) -- WayPoint Biomedical Corporation (Pink Sheets:WYPB) receives U.K. press and media recognition for their recent exclusive multi-year agreement with SureScreen Diagnostics. A transcript of the release is detailed below:
DERBY, U.K., July 28, 2005, A Derby Company looks set to increase its presence in America after announcing a deal with a U.S.-based firm. SureScreen Diagnostics, a forensic science lab and manufacturer of a range of scientific test kits, has signed an exclusive deal with Californian company WayPoint Biomedical Corporation (Pink Sheets:WYPB). Under the deal, the value of which has not been disclosed, WayPoint will market and distribute SureScreen's products across North America. Initially, WayPoint will be concentrating on SureScreen's alcohol, date-rape drug and explosives test kits.
Announcing the deal, WayPoint said: "We have signed an exclusive multi-year agreement with Derby, U.K.-based SureScreen Diagnostics for sole North American sales, marketing and distribution rights of SureScreen's diverse range of diagnostic products. As a leading European health care concern, SureScreen's scientists have developed a comprehensive portfolio of unique screening tests, devices and programs, making them Europe's premier authority on drug testing, health care and innovative diagnostic technologies. WayPoint will provide SureScreen with an ideal platform to enter into the multi-billion-dollar North American market. Over the next few months, WayPoint plans to introduce an intriguing array of SureScreen's novel products into the clinical diagnostic point of care, over-the-counter retail, and homeland security market sectors."
SureScreen, which employs 20 people at its Prime Parkway offices, was founded by Home Office-trained forensic scientist Jim Campbell in 1991, when he realized that his skills were as valuable commercially as they were to the police. The company has since gone on to develop kits that can identify traces of explosives on skin tests and date-rape drugs or alcohol in urine or hair. It also makes pregnancy testing kits and tests for diseases and medical conditions.
Mr. Campbell, speaking from America yesterday, said: "This is not our first contract in America but it's our most important one. We're known in the U.K. for our work with forensic science and health screening, but in America for our work to detect bombs and precursors for bombs, and the work we're doing with alcohol and our Drink Detective date-rape drug detection test. WayPoint is having several different products we produce but those are the ones they are most interested in at the moment."
One of the products SureScreen took to market was an "intelligent" beer mat, capable of detecting alcohol in a soft drink or any of the date rape drugs simply by dropping a sample of the drink on to the mat.
About SureScreen Diagnostics, Ltd.:
SureScreen Diagnostics evolved in 1991 when a group of top British forensic scientists realized that their analytical skills were as valid in medicine as they were at a murder scene. It's their lateral thinking which puts SureScreen ahead of the competition, by bringing together sophisticated technologies to create a unique range of cutting edge diagnostic products. SureScreen has become a leader in in-vitro diagnostic test kits and devices for drugs, pregnancy, disease and lifestyle tests that are focused toward the detection and management of medical conditions. For more information visit www.surescreen.com.
About WayPoint Biomedical, Inc.:
WayPoint Biomedical, Inc., a wholly owned subsidiary of WayPoint Biomedical Holdings, Inc. (Pink Sheets:WYPB), is an innovative biomedical technology firm, specializing in diagnostic tests and devices for screening and monitoring human health, fitness and environment. The Company develops and markets cutting-edge disposable rapid tests that offer both a preliminary diagnostic screen to specific conditions, along with a future path for consumers, medical providers, and first responders to follow regarding their health status or environmental condition. WayPoint's unique and affordable home-based and on-site tests are focused on detecting the cause of a disease or pathogen, as opposed to determining the symptom; becoming a part of the solution to help reverse the escalating cost of Healthcare. The Company's primary target sectors are the Over the Counter (OTC) Self-Testing Market, the Diagnostic Point of Care (POC) Testing Market, and the Homeland Security & Defense Market; three of the fastest growing areas in all of diagnostic medicine and science. For more information on WayPoint Biomedical visit www.waypointbiomedical.com, www.drinkdetectiveusa.com.
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.