Delphi Medical Systems Signs Exclusive Licensing Agreement with Oxus
TROY, Mich. -- Delphi Medical Systems, a subsidiary of Delphi Corp., recently signed an exclusive worldwide licensing agreement with Korea-based medical device company Oxus Co., Ltd.
Oxus is a fast-growing supplier of medical, industrial, and commercial PSA oxygen generators.
The technology licensing agreement includes two key U.S. patents, several additional patent applications, the rights to manufacture and distribute oxygen concentrators based on this intellectual property, and the ability to use the underlying technology for OEMs and distributors.
Delphi anticipates bringing two oxygen concentrators to the U.S. and European markets in the first quarter of 2006, when it is expected that the U.S. Food and Drug Administration clearance for sale and CE Mark approvals will be obtained.
Ideal for use in home care or in alternate sites, the oxygen concentrators are designed to be high-performance systems with low noise for the patient. One version delivers three liters per minute and the larger of the two delivers five liters per minute.
The underlying technology will also be used on other concentrators that may benefit from their innovative design.
“We’re excited about this agreement and the Oxus products, which represent growth opportunities for Delphi,” said Christophe Sevrain, managing director of Delphi Medical Systems. “We anticipate announcing more strategic alliances with Original Equipment Manufacturers and distributors to further develop Delphi Medical Systems’ presence in the respiratory care arena.”
The technologies, coupled with Delphi Medical Systems’ already impressive portfolio of technologies in respiratory care, will help add to its steadily growing product portfolio. “We welcome this opportunity to work with Delphi Medical Systems,” said Dr. T. S. Lee, president Oxus, Co., Ltd. “With our licensing agreement, together we hope to continue to serve the needs of patients with respiratory needs,” said Lee. “We expect to bring a series of leading-edge products to the market, by capitalizing on Delphi’s strengths in design, manufacturing and reliability.”
“The oxygen concentrators and the licensing agreement with Oxus are key elements in our respiratory care market segment, one of our six focused areas in the medical industry,” said Sevrain. “We look forward to working with Oxus, as it will be another building block to addressing respiratory care concerns all over the world.”
For more information on Oxus, please visit its website at: www.oxus.co.kr.
For more information on Delphi Medical, please visit www.delphimedical.com.
This press release as well as other statements made by Delphi may contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession (DIP) facility; the Company’s ability to obtain court approval with respect to motions in the chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; and the ability of the Company to attract and retain customers. Other risk factors are listed from time to time in the Company’s SEC reports, including, but not limited to the annual report on Form 10-K for the year ended December 31, 2004 and its most recent quarterly report on Form 10-Q and current reports on Form 8-K. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. Accordingly, the Company urges that the appropriate caution be exercised with respect to existing and future investments in any of these liabilities and/or securities.
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