here's some news about the lassette case anyone's interested
Cell Robotics Receives Prestigious R&D 100 Award for Lasette; Cell Robotics' Selected as the Developer of One of this
Year's R&D 100 Award Winning Technologies
BusinessWire, Thursday, July 08, 1999 at 12:34
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--July 8, 1999--Cell Robotics
International Inc. (OTC:CRII), developer of the Lasette, a laser
finger perforator used for nearly painlessly sampling capillary blood
for testing glucose for people with diabetes, Thursday announced that
R&D Magazine has awarded the Lasette an R&D 100 Award, to be featured
in the September 1999 issue.
R&D Magazine Online (www.rdmag.com) stated, "These winners have
been recognized as the 100 most technologically significant new
products and processes of the year by R&D Magazine. The Chicago
Tribune has called these awards 'The Oscars of Invention.' Others have
referred to the R&D 100 Awards as the 'Nobel Prizes of Applied
Research'...
"Past winners have included breakthroughs like Polacolor film,
the flashcube, the digital wristwatch, antilock brakes, the automated
teller machine, the liquid crystal display, the halogen lamp, and the
fax machine. The 37th annual competition saw outstanding entries from
many of the most prestigious companies, research organizations, and
universities in the world."
The 1999 R&D 100 Award is another in a line of important product
review awards and regulatory approvals for the Lasette. Photonics
Spectra awarded their "Circle of Excellence Award" to the Lasette as
one of the 25 most important new laser products of 1998. The U.S.
Patent Office granted a patent for the shape of the laser beam to
minimize pain as it intersects the finger in June 1999.
In December 1998, the U.S. Food and Drug Administration (FDA)
granted a clearance for the first Class IV medical laser for home-use
and the European Community approved the Lasette for sale throughout
Europe.
Ronald K. Lohrding Ph.D., chairman, president and chief executive
officer of Cell Robotics, commented, "The R&D 100 Award is a tribute
to the innovation of the Cell Robotics research and development team
and their ability to work with others.
"In conjunction with Big Sky Laser Technologies of Bozeman,
Montana and the New Technology Engineering Center of Troitsk, Russia,
we created a diverse scientific team that came together and created
the Lasette, a truly unique product. We are gratified to have been
recognized by as highly a regarded publication as R&D Magazine."
Michael A. Wolf, Cell Robotics' vice president for engineering
said, "I believe this device is the beginning of a trend in
laser-based medical devices that will move us away from expensive and
complex devices, which must be operated by trained professionals,
towards relatively inexpensive mass produced devices that can be
administered by the end-user.
"The development required a cooperative effort of many diverse
groups. The concept for using the laser to sample blood came to us
through Russian scientist, Dr. Valeri Polushkin. Cell Robotics did the
system design, cost-reduction, miniaturization and electronics and Big
Sky Laser Technologies developed the laser cavity design."
The Professional Lasette is currently available to medical
professionals for drawing capillary blood for all screening purposes
and may be purchased by individuals for home use with a doctor's
prescription. However, the greatest demand for capillary blood samples
is in the home-use treatment of the millions of diabetic patients who
are often required to sample blood several times each day.
To meet this market, Cell Robotics plans to start production of a
smaller Personal Lasette for use by diabetes patients at home.
Chronimed Inc., (NASDAQ:CHMD) is the exclusive distributor and
marketer of both Lasette models. Chronimed plans to feature the new
Personal Lasette at the American Association of Diabetic Educators
convention in August 1999, and commence sales of the product to
patients in the fall.
Cell Robotics also announced the completion of a private
placement in the amount of $425,000. These proceeds will be utilized
for working capital and to build inventory for the Personal Lasette.
In addition to the Lasette, Cell Robotics International Inc.
manufactures, markets, and distributes an In Vitro Fertilization (IVF)
Workstation that is being marketed in Europe, and the Cell Robotics
Workstation, a research instrument that incorporates the
LaserTweezers(R) 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.
CONTACT: Cell Robotics Inc., Albuquerque
Craig Rogers, 719/590-1793
or
RCG Capital Markets Group Inc., Scottsdale, Ariz.
602/675-0400
Jim Estrada or Brett Maas (Retail)
Joe Dorame (Analysts/Institutional)
Jeff Stanlis (Media) |
