Tuesday September 14, 8:01 am Eastern Time
Company Press Release
Cell Robotics Forms Strategic Alliance with Hamilton Thorne to Distribute IVF Technology
Hamilton Thorne Research, World's Leader in Sales Of Sperm Analyzers, To Sell Cell Robotics' IVF Laser Assisted Hatching Technology
ALBUQUERQUE, N.M.--(BW HealthWire)--Sept. 14, 1999-- Cell Robotics International Inc. (OTC BB:CRII), a developer, manufacturer and marketer of medical and scientific laser devices, and privately held, Hamilton Thorne Research Inc. (HTR), a developer, manufacturer and marketer of automated sperm analyzers jointly announce Tuesday their agreement that HTR will market, sell and distribute the In Vitro Fertilization (IVF) Workstation for Laser Assisted Hatching developed and manufactured by Cell Robotics.
As part of the agreement, Hamilton Thorne Research has an option to purchase Cell Robotics' IVF Workstation technology with up-front cash and royalty payments during the first year of the agreement.
Hamilton Thorne Research Inc., based in Beverly, Mass., the world leader in manufacturing and marketing automated sperm analyzers, will launch an aggressive marketing and sales campaign and will infuse over $700,000 into the effort.
Through this strategic alliance the combination of technologies will provide state-of-the-art instrumentation to improve pregnancy rates in the growing fertility market.
Ronald K. Lohrding, Ph.D., chairman, president and chief executive officer of Cell Robotics, commented, ``Hamilton Thorne Research is a well managed company that has proven its marketing and sales experience to date by selling approximately 950 sperm analyzers to fertility and research clinics throughout the world.
``With this customer base and their international network of distributors, Hamilton Thorne Research is perfectly positioned to accelerate the sales of our IVF Workstation technology. We are delighted that Hamilton Thorne has committed the management, financial and personnel resources needed to be successful in selling our IVF product line.
``We believe this alliance will accelerate our IVF Workstation sales and allow our staff to focus on the launch this fall of the Personal Lasette for the large diabetic market.'
Meg D. Hamilton, president and chief executive officer of Hamilton Thorne Research Inc., stated, ``We believe this agreement is a win-win situation.
``Hamilton Thorne is ideally positioned to sell Cell Robotics' IVF laser assisted hatching technology, because our automated sperm analyzer is sold to the same customer base with a corresponding price range and an equivalent level of technical complexity.
``Furthermore, Hamilton Thorne is launching a new line of genetic diagnostic products for the IVF world and views Cell Robotics' laser assisted hatching technology as an excellent complement to our new diagnostic technology offering.
``We anticipate that Cell Robotics' technology will facilitate the use of our new molecular BEACON diagnostics and bring a new level of automated ease of use in the assisted reproduction clinic. We are also impressed with the level of sophistication and the success Cell Robotics IVF technology has experienced in improving pregnancy rates.
``We believe that with our existing customer base we can quickly expand the laser assisted hatching market, not only in IVF clinics, but in our strong market base in animal research and reproductive toxicology.' Additional information about Hamilton Thorne Research can be found at www.hamiltonthorne.com.
Cell Robotics' IVF Workstation is cleared for marketing and sales in Europe and all other countries that accept the European Community regulatory standards. This includes approximately 100 countries. In the United States, the Food and Drug Administration (FDA) has not yet cleared the technology although the clinical trial is underway.
In addition to the In Vitro Fertilization (IVF) Workstation, Cell Robotics International Inc. manufactures, markets, and distributes the Lasette, a laser finger perforator, designed to allow diabetics to painlessly draw blood to test their glucose levels, and the Cell Robotics Workstation, a research instrument that incorporates the LaserTweezers© and LaserScissors(TM) for manipulating and cutting cells and chromosomes.
Additional information is available on the Cell Robotics Web Site at cellrobotics.com, by e-mail at crii@cellrobotics.com, or by telephone at 505/343-1131.
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the company's ability to execute its service and product sales plans; and the risks described from time to time in the company's Securities and Exchange Commission filings.
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Contact:
Cell Robotics International Inc.
Craig Rogers, 719/590-1793
or
RCG Capital Markets Group Inc., 480/675-0400
Retail: Jim Estrada, Brett Maas
Analysts/Institutional: Joe Dorame
Media: Jeff Stanlis,
or
Hamilton Thorne Research
Nancy Mutch or Leo McNamara, 978/921-2050
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