HUNTINGTON BEACH, Calif., July 19, 2005 (PRIMEZONE) -- WayPoint Biomedical Corporation (Pink Sheets:WYPB) has signed a distribution agreement with privately held San Jose, California based Meditest USA, Inc. to manage WayPoint's e-commerce sales for the Drink Detective(tm) product line. With over four years of experience in e-Commerce Internet sales of OTC home-based diagnostic tests, Meditest USA is the ideal company for WayPoint to join forces with to execute its e-Commerce sales strategy.
Meditest USA's VP of Sales and Marketing, John Richer believes, "The Drink Detective(tm) fits well into our product portfolio and strategic vision. It provides a potential solution to the disturbing societal problem of drink spiking, and I am proud to have the opportunity to market the product." WayPoint is installing a direct link from their www.drinkdetectiveusa.com website to the www.meditestusa.com website, where electronic orders for as few as six and as many as one thousand test kits can be made. Meditest USA has already received their first stocking order from WayPoint, and they plan to be ready to fulfill electronic orders for Drink Detective(tm) kits before the end of the week.
About WayPoint Biomedical:
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 and 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.