CybeRelease: (OTC: IVME) Announces New Patent Filing
(CybeRelease, August 17, 2006) - Lake Harmony, PA - IVMD Inc. (OTC BB: IVME), a novel medical device company, today announced the filing of an important patent in its suite of intellectual Property.
Following on from the filing of its first immunoassay patent last year, IVMD has developed a low cost, unambiguous, yes/no assay format. The technology uses IVMD’s expertise in its core technology, together with its low-cost design and manufacturing methodology that was developed for its first groundbreaking product.
The immunoassay format is self powered, sensitive, and can be produced at a cost level that will make it completive in the mass market e.g. over the counter pregnancy and ovulation testing, as well as a screening tool for diseases such as HIV or substances such as drugs or alcohol. As such it could spin off a number of applications in large, global markets.
John Fuller, CEO Operations, said, “The development of the technique and filing of a new patent shows IVMD’s commitment to building a strong portfolio of IP which can be commercially exploited to add shareholder value. Throughout the development program IVMD worked closely with its marketing team to define the true market requirements, and the product has been targeted strongly at being competitive in the Over the Counter space. We are currently in discussions with a number of blue chip diagnostics companies to commercialize the product in various sectors.”
The Immunoassay Market in the USA alone was worth $7Bn per annum in 2002.
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