April 2, 2008
Urodynamix Announces First Commercial Product Shipment
Company Successfully Completes Major Program Milestone
VANCOUVER, British Columbia, April 2, 2008 - Urodynamix Technologies Ltd. (TSX-V:URO) today announced that it has successfully completed a major program milestone by making the first commercial shipment of Tetra™ Bladder Monitor Systems to its worldwide distribution partner, Laborie Medical Technologies, in the first quarter of 2008.
This initial targeted shipment will allow Laborie to place Tetra™ systems with key opinion leaders at marketing trial sites in advance of the full Tetra product launch activities at the American Urological Association (AUA) Annual Meeting in May 2008.
“This initial shipment is a major milestone for Urodynamix,” said Barry Allen, President and CEO of Urodynamix. “Laborie is a true industry leader in urodynamic assessment systems with a unique opportunity to introduce their large installed base and network of users to this new and exciting technology on an ongoing basis.”
In May 2007, Urodynamix entered into a worldwide licensing agreement with Laborie, the global market leader in urodynamics equipment and related products, to distribute NIRS technology in acute care settings (see news release dated May 17, 2007 for details). Laborie is the worldwide leader in urodynamics equipment used for the diagnosis and treatment of incontinence, with a global network consisting of direct sales representatives and distributors in 52 countries across North America, South America, Europe, Asia and Oceania.
The Tetra™ Bladder Monitor System is a non-invasive medical device that uses near infrared spectroscopy (NIRS) in conjunction with non-invasive uroflowmetry and bladder ultrasound to assess bladder function and aid in the diagnosis of patients with lower urinary tract symptoms (LUTS). Tetra provides clinicians with an alternative to more invasive, catheter-based urodynamic tests, employing a simple, non-invasive procedure with less preparation time and improved patient comfort.
Lower urinary tract symptoms are common in middle-aged men, with the prevalence of LUTS believed to be as high as 90% in men aged 50 to 80 years old. The term describes a range of urinary symptoms that may be linked with prostate disease or bladder dysfunction. LUTS are most often associated with an enlarged prostate; however symptoms alone cannot be used to make an accurate diagnosis or ensure appropriate treatment of the underlying disease. Invasive pressure-flow urodynamic studies currently offer the only way to differentiate between LUTS caused by prostatic obstruction and bladder disease.
Regulatory Status
Laborie received FDA clearance to market the Tetra™ Bladder Monitor System as an accessory to their existing urodynamic systems in the U.S. in March 2008 and intends initiate submissions for Health Canada licensing and CE Mark approval in April 2008. Marketing activities for Tetra are expected to begin in both the United States and various markets outside of the U.S. during the second quarter of 2008.
About Urodynamix Technologies Ltd.
Urodynamix Technologies is a Canadian medical device company developing and commercializing non-invasive medical technology based on proprietary applications of near-infrared spectroscopy (NIRS). The Company is currently focused on products that aid in the diagnosis and treatment of urinary incontinence, lower urinary tract symptoms, prostate cancer, benign prostatic hyperplasia, and traumatic increases in intra-abdominal pressure that cause abdominal compartment syndrome. Urodynamix’s breakthrough medical technology has the potential to beneficially affect more than 200 million people worldwide.
Certain information contained in this press release may be forward-looking and is subject to unknown risks, which could cause actual results to differ materially from those set forth or implied herein. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Craig Pamplin, PhD, CFA
Director, Corporate Development and Communications
Urodynamix Technologies Ltd.
Tel: (604) 638-0247
Email: cpamplin@urodynamix.com
www.urodynamix.com |
