Trading around 2.25 on OTC BB fully filing profile at Yahoo:
To my mind this is the most important release since FDA approval. With the insurance
companies starting to get behind the Lassette (it is only to their benefit to do so) +
Medicare beginning now to make exceptions for coverage (this process w/Medicare will expand in my opinion...it will be to Medicare's
benefit also to pay for the Lassette...and all the disposable products that have to be used
to support the product's use...that applies to the insurance companies as well) success
seems more probable now. And that could mean a great deal of money.
gpg
Cell Robotics Issues Progress Report On Personal
Lasette
Several Private Insurance Companies Have Paid for the Lasette
ALBUQUERQUE, N.M.--(BW HealthWire)--Feb. 7, 2000-- Patented Technology Offers
Lancet-free, Nearly Painless
Blood
Sampling to Well Over 100 Million Diabetics Worldwide
Cell Robotics' CEO Interviewed Online At ``America-iNvests.com'
Cell Robotics International Inc. (OTCBB:CRII - news) today issued an update on its
proprietary, breakthrough medical device
designed for the 100 million diabetics worldwide.
Cell Robotics International is the only company offering a FDA-cleared alternative to the
steel lancet or needle to enable
diabetics to sample their blood as the first step in testing glucose levels to determine
proper insulin dosing.
The company is the developer of the award-winning Lasette©, a compact, portable laser
skin perforator that allows nearly
painless sampling of capillary blood without inducing residual soreness.
Cell Robotics entered the large market for diabetes home-use products when it initiated
production, marketing, sales and
shipment of the Personal Lasette in time to ship the first Personal Lasettes for Christmas.
There are well over 10 million
diagnosed diabetics in the U.S, approximately 4.7 million of whom must inject insulin
every day to survive. The Personal
Lasette eliminates the debilitating effects of needle phobia, while minimizing pain and
long-term finger soreness.
``We are especially pleased with customer acceptance of, and excitement about, the
Personal Lasette,' stated Ronald K.
Lohrding, Ph.D., Cell Robotics president and CEO. ``We are particularly gratified by the
personal testimonials from diabetics
whose lives have been improved by this device.'
Jim Collins, a long time diabetic who carefully manages his life with diabetes, and runs in
marathon events in the United States
and Europe, said this about the Personal Lasette: ``In addition to the reduced pain and
the soreness of my fingers, I've found
another benefit to using the Lasette: there is no residue or excess blood. The amount of
blood that arises is so small that it can
just be wiped away with no sign. This is great for discrete testing. It is amazing to see
peoples' jaws drop when I say I use a
laser beam to poke my finger. ... I love this Lasette! It makes me feel as if I am a
magician.'
Another user, a retired engineer in his 70s, said, ``I am thrilled! The Lasette is everything
that you said it would be -- painless
and no soreness.'
``In addition, we are particularly pleased that several large private insurance companies
have agreed on an individual basis to
pay for the Personal Lasette for their subscribers,' Lohrding said. ``Also, Medicare has
agreed to pay for a child's Lasette
through an exception process. Many doctors make the point to insurance companies that
with the Lasette, their patients will test
glucose levels more often, keep blood sugars under better control and thus reduce costly
side effects of diabetes.'
``We are gratified that several insurance companies are willing to pay the short term
costs to provide for the long-term health of
their subscribers. Frankly, this has happened sooner than we expected and helps
validate the value of our technology. We will
work with the insurance companies to release additional information on individual
company coverage when the relationship
becomes more formalized.'
The Personal Lasette is of particular benefit to those patients, who greatly fear sticking a
steel blade or needle into their fingers.
It is estimated that between 10 and 33 percent of the diabetic population suffer from
``needle phobia.' (a)(b)(c) An additional
20 percent of the diabetic population can be classified as needle-averse. Even diabetics
who have no fear of needles dislike the
pain caused by steel lancet sticks and the continual soreness in their fingertips caused by
multiple daily finger sticks.
The potential market is enormous. If Cell Robotics sold a Personal Lasette and a year's
supply of disposables to only 1 percent
of the U.S. insulin-injecting diabetic population of 4.7 million people this would yield
revenues of $55 million. If Cell Robotics
achieved U.S. market penetration of 5 percent to 10 percent, the market size would be
between $276 million and $552 million.
By making a conservative assumption that the U.S. represents 40 percent of the world
diabetic market, then at penetration
rates of 1 percent, 5 percent and 10 percent, the world market would be $137 million,
$687 million and $1.3 billion
respectively.
Lohrding was recently interviewed by Dan Gruber on the ``CEO Says' program of
America-iNvests.com. This audio interview
is available at the America invests Web site at
www.americainvest.com/archives?action=content&interfaceid=1384&id=56.
The company encountered some problems with the laser cavity and the laser rod
coatings of these early units. However, these
problems have since been solved by using a new vendor for laser rod coating and
making other minor adjustments. The
company is now ramping up manufacturing and has launched an advertising campaign to
promote the product.
Information about the Lasette has found its way onto several diabetic Web sites and
publications. The paid advertising and
direct mailing started last week with an ad in ``Diabetes Interview.' In March, additional
advertisements will appear in
``Diabetic Forecast,' ``Diabetes Self-Care' and ``Diabetes Interview.'
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. The Lasette may be purchased
at 800/846-0590 Ext. 100 or via
e-mail at lasette@cellrobotics.com.
As a cautionary note to investors, certain matters discussed in this news 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.
(a)Pediatric News 32(12):36, 1998.
(b) Needle Phobia: A Neglected Diagnosis by James G. Hamilton, M.D. in the August,
1995 issue of ``The Journal of
Family Practice.' Vol. 41, No.2, pp. 169-175
(c) The Needle Phobia home page on the internet.
Contact:
Cell Robotics International
Craig T. Rogers, 719/590-1793
investor-info@cellrobotics.com
Coffin Communications Group
Sean Collins/Crocker Coulson, 818/789-0100
www.coffincg.com |
