Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : CHMD low risk below 15: Potential 50 -- Ignore unavailable to you. Want to Upgrade?

To: Dan Turner who wrote (218)	9/15/1998 11:34:00 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 241

Cell Robotics Receives Equity Investment From Chronimed Chronimed's Successful Due Diligence Yields Capital Investment and Initial Lasette Purchase Order ALBUQUERQUE, N.M., Sept. 15 /PRNewswire/ -- Cell Robotics International, Inc. (OTC Bulletin Board: CRII - news), a manufacturer and marketer of scientific and medical laser devices, announced today that Chronimed, Inc. (Nasdaq: CHMD - news) has completed its due diligence on Cell Robotics' Lasette(TM) laser finger perforator for drawing blood for glucose testing in the diabetes market. Chronimed tests have determined that the Lasette meets all of its internal expectations and based on the successful outcomes has made its first equity investment of $300,000 for 200,000 shares of Cell Robotics common stock. Chronimed's capital investment in Cell Robotics will be focused on the development of a second generation, smaller Lasette to meet the needs of the home glucose testing market. Cell Robotics will also be eligible for an additional $300,000 capital investment by Chronimed at the successful conclusion of certain other agreed upon milestones. With estimated annual revenues of approximately $140 million, Chronimed, for the second consecutive year, has been included in FORTUNE magazine's 1998 list of ''America's Top 100 Fastest-Growing Companies''. In addition, Chronimed has submitted its first Lasette purchase order to be delivered this month. Earlier in this quarter, the companies agreed to a two-year, multi-million dollar minimum purchase by Chronimed. Cell Robotics will provide Lasettes to Chronimed for an agreed upon transfer price. Chronimed will distribute the Lasette and accessories worldwide. Chronimed, headquartered in Minneapolis, provides pharmaceuticals, medical products and services to patients with chronic conditions such as diabetes. Dr. Ronald K. Lohrding, president and CEO of Cell Robotics, commented, ''We are very pleased with the successful conclusion of Chronimed's testing and due diligence. As part of the process Chronimed conducted testing with the Lasette on a large sample of people to verify consistency in obtaining blood samples, and the perception of significantly reduced pain. We are gratified with both the quality of our Lasette product and the professionalism displayed by Chronimed throughout the testing process. We look forward to a long and mutually beneficial relationship with Chronimed.'' The worldwide diabetic market is very large and continues to grow. In the USA alone, 2,200 new diabetics are diagnosed every day. For the $2.5 billion annual diabetic glucose monitoring market, the Lasette represents the first significant change from the pain of sampling blood with steel blades or needles since the invention of the glucose meter 20 years ago. In addition to the current FDA clearance for drawing blood for testing glucose in children and adult diabetic patients in a clinical setting, Cell Robotics has also applied to the FDA for clearance for home use by patients of all ages. Cell Robotics International, Inc. manufactures, markets, and distributes scientific and medical laser devices. These devices include: the In Vitro Fertilization (IVF) Workstation, and the Cell Robotics Workstation, a research instrument that incorporates the LaserTweezers(R) and LaserScissors(TM) for manipulating and cutting cells and chromosomes, and also the FDA-cleared RevitaLase, an Erbium:YAG laser for use in dermatological applications. 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 SEC reports.