News - 4th quarter shipments
Chromatics Fourth Quarter Shipments in Progress to Ohmeda Medical
NEW YORK, Nov. 10 /PRNewswire/ -- Chromatics Color Sciences International, Inc. (Nasdaq: CCSI) announced that the first half of the fourth quarter shipments of ColorMate(R) TLc-BiliTest(R) commercial products due by November 15, 1999 were shipped last week, with the balance proceeding on schedule under the terms of its agreement with its new distribution partner in the United States, Datex-Ohmeda and its Ohmeda Medical Division.
These additional shipments follow the initial ColorMate(R) TLc-BiliTest(R) demonstration and commercial products shipped in the third quarter ended September 30, 1999.
Chromatics Chief Executive Officer Darby Macfarlane said, "In addition to completing the initial supply of demonstration and promotional products required under our distribution agreement, these shipments are generating the first substantial revenues for the Company from the sale of its medical products.
While the distributor's task of gaining market penetration within the domestic medical community will take time to accomplish, we are now seeing the first U.S. hospitals converting to the non-invasive TLc-BiliTest(R) System as their standard of care, representing thousands of babies born each year who will have pain-free monitoring for bilirubin/infant jaundice available in the 21st century."
Ms. Macfarlane further stated, "Now that this important phase of our contractual product delivery requirements is well underway, the Company is strongly focusing on the completion of other vital aspects of its business plan already in progress, including hiring new executives, arranging for international distribution of its bilirubin monitoring system and completing the next phases for producing lower cost systems, including those for additional commercial applications."
Chromatics Color Sciences is in the business of color science and has developed technologies and intellectual properties that it believes have medical applications involving the detection and monitoring of certain chromogenic diseases or disorders such as hyperbilirubinemia in newborn infants. The Company defines chromogenic diseases or disorders as those diagnosed or monitored by the coloration of the human skin, tissue or fluid being affected. Additional medical applications to the monitoring of hyperbilirubinemia in newborns will require additional clinical trials and FDA clearances for commercial use.
The Company's technologies and intellectual properties also have other applications, including the scientific color measurement and classification of human skin, certain color-sensitive consumer products and in determining the color compatibility of such skin and product color classification for use in a variety of industries including the dental, cosmetics, beauty-aid and fashion industries.
Certain of the matters discussed in this announcement contain forward-looking statements....... |
