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Posted: November 30, 2007
Nanoscience Inc. Strategic Development and Distribution Alliance
(Nanowerk News) Nanoscience is pleased to announce that its wholly owned subsidiary, Toumaz
Technology Limited (Toumaz'), has entered into a Strategic Development and
Distribution Alliance (the Alliance') with a leading global medical devices
business (the Strategic Partner'). Through the Alliance it is intended that
the two parties will develop agreed solutions, incorporating Toumaz's Amx™
technology and its Sensium platform, that will be sold into global healthcare
markets with the objective of becoming global leaders in handheld and body worn
wireless diagnostic and monitoring products. It is envisaged that these next
generation monitoring products will be disposable, non invasive and capable of
providing real time critical vital sign information. From the inception of the
Alliance Toumaz will receive funds from its Strategic Partner for further
Furthermore, the Strategic Partner has committed to provide funding and
resources to assist in gaining any necessary regulatory approvals and will
carry out global manufacturing, product marketing, sales and distribution.
The Directors of Nanoscience estimate, on the basis of existing market data,
that the vital sign monitoring market already exceeds $1.5bn and continues to
grow, whilst the Point of Care diagnostics worldwide market is estimated at
$10bn and growing.
Toumaz will retain all the background intellectual property relating to its AMx
™ platform and will be entitled to explore further revenue streams for the
technology outside of the field of use being exploited jointly with its
It is anticipated that ongoing success within the program will result in a
growing financial and technical commitment from Toumaz's Strategic Partner and
the Board look forward to reporting on further progress in the first half of
Nanoscience has provided Toumaz with ongoing research and development funding
and has continued to work closely alongside its management team to provide the
additional commercial and corporate expertise that has resulted in the
establishment of this landmark alliance.
Chris Toumazou, Chairman of Toumaz Technology Limited, commented:
The establishment of this alliance is a very positive development for Toumaz,
and we now have the opportunity to provide end to end solutions in the
personalized healthcare space. This has been a key strategic goal of the
business that we now believe is deliverable.'
Guy Spelman, Nanoscience's CEO, commented:
This is the most significant landmark in the seven year history of Toumaz as
the road to commercialisation is now visible and we look forward to reporting
on further progress throughout 2008.'