WayPoint Biomedical Extends and Expands LOI With System Two Pty, Ltd. for Frontline(R) Explosives Test Kit and Alcohol Testing
26 7월 2006 - 8:00PM
PR Newswire (US)
HUNTINGTON BEACH, Calif., July 26 /PRNewswire-FirstCall/ --
WayPoint Biomedical, Inc. (Pink Sheets: WYPH) has expanded the
criteria and timeline of their Letter of Intent (LOI) with
Australian based System Two Pty, Ltd. The purpose of the extension
is to formalize the mutual intent to complete a comprehensive
"exclusive" licensing and distribution agreement, where WayPoint
will introduce and commercialize the System Two Frontline(R)
Explosive Detection Test Kits & Rapid Alcohol Testing Device in
North America. "This expansion and extension to the LOI provides
WayPoint with the ability to better assess the market potential and
secure early business possibilities for the System Two product
range," said WayPoint's Director of Sales and Marketing, Phill
Richer. "Contacts have been made and early discussions are taking
place with various interested parties, such as, the FBI, TSA and
the Canadian Security Forces. The Frontline Explosive Test Kit was
recently demonstrated at a national security conference in Miami,
Florida where it quickly became the hit of the show. Interest was
expressed by several government agencies, including, the Lawrence
Livermore National Laboratory, the Department of Defense, the Air
Force Research Laboratory, and the Miami-Dade Police Bomb Squad
Division. We are actively following up every lead and sending
samples for testing and analysis." System Two's Commercial
Director, Diranne Lee-Renwick, states, "We are delighted with the
extension of the LOI. Our visit to Miami for the conference and
subsequent visit to WayPoint's corporate offices provides us with a
great sense of excitement about our relationship with WayPoint and
the opportunities that lay ahead for both companies". About
WayPoint Biomedical, Inc. WayPoint Biomedical, Inc., a wholly owned
subsidiary of WayPoint Biomedical Holdings, Inc. (Pink Sheets:
WYPH), is an innovative biomedical technology firm, specializing in
diagnostic tests and devices for screening and monitoring human
health, fitness and environment. The Company develops and markets
cutting-edge disposable rapid tests that offer both a preliminary
diagnostic screen to specific conditions, along with a future path
for consumers, medical providers, and first responders to follow
regarding their health status or environmental condition. For more
information on WayPoint Biomedical visit
http://www.waypointbiomedical.com/ . Forward-Looking Statements
This press release contains forward-looking statements. By their
nature, forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the near future. There are a
number of factors that could cause actual results and developments
to differ materially. Contact WayPoint Biomedical, Inc. Dennis
Shepherd 714-848-3200 E-mail: DATASOURCE: WayPoint Biomedical, Inc.
CONTACT: Dennis Shepherd of WayPoint Biomedical, Inc.,
+1-714-848-3200, Web site: http://www.waypointbiomedical.com/
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