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| Toumaz Technology Partners with a Global Medical Devices Business Nanoscience announces that its wholly owned subsidiary, Toumaz Technology ('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 development work. 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 Strategic Partner. 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 next year. 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. write your comments about the article :: © 2007 Computing News :: home page |