News:
biz.yahoo.com
AccuMed Reaches Agreement with Bell National to License AcCell Product Line
CHICAGO, March 9 /PRNewswire/ -- AccuMed International, Inc. (Nasdaq: ACMI - news) announced today that the company has signed a letter-of-intent with Bell National Corporation (OCT Bulletin Board: BLBN) to license the AcCell(TM) product line including patents, engineering study results, and proprietary trade information.
The license will give Bell National the rights to use and sell AcCell products, which include the AcCell 2000, 2001 and 3000 computer-aided microscopy workstations. In addition, Bell National has agreed to purchase AcCell 2000 series equipment inventory and other AcCell 2000 series-related assets from AccuMed. Bell will also assume responsibility for AccuMed's existing AcCell installations, contracts and open quotations.
AccuMed International refocused its cytology business in October of 1998 on Savant medical technologies that integrate AcCell, TracCell(TM), and AcCell-Savant(TM) technologies and computer-aided systems for early and more curable cancer detection and diagnosis.
Paul F. Lavallee, Chairman and Chief Executive Officer of AccuMed International, Inc. stated, ''The AcCell workstations were designed and developed by AccuMed as an introductory component of the solution to cancer detection and diagnosis problems in diagnostic cytology laboratories. Alone, the AcCell workstations are a means to assist human experts minimize their error rates and enhance their overall performance. Together with AccuMed's non-licensed electronic imaging systems such as the FDA-cleared TracCell(TM) slide mapping systems and its quantitative microscopy systems including the Savant(TM) DNA and probe analyzers, the emerging family of AccuMed medical diagnostic and medical informatics products offer a major opportunity to help solve worldwide cancer problems that claim, for example, one million lung cancer patients per year.'' Mr. Lavallee added, ''This AcCell license agreement with Bell National will produce significant immediate cash and a royalty revenue stream while enabling AccuMed to accelerate the commercialization of its powerful Savant medical technologies that will incorporate next-generation AcCell features and benefits.''
The terms of the license agreement were not disclosed and the transaction is expected to close within 90 days.
Except for the historical information contained herein, the matters discussed in this news release are deemed ''forward-looking statements'' under federal securities laws that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements depending on a number of factors, including, among other things, the ability to maintain long-tern relationships with corporate partners, the ability to bring products to market through the regulatory approval process, uncertainty of future profitability, financing requirements, and other factors detailed in AccuMed's filing with the Securities and Exchange Commission.
Cisco |
