Nanoscience is pleased to announce that its wholly owned subsidiary, Toumaz Technology Limited (‘Toumaz’), has entered into a Strategic Development and Distribution Alliance (the ‘Alliance’) with a leading global medical devices business (the ‘Strategic Partner’). Through the Alliance it is intended that the two parties will develop agreed solutions, incorporating Toumaz’s Amx(TM) technology and its Sensium platform, that will be sold into global healthcare markets with the objective of becoming global leaders in handheld and body worn wireless diagnostic and monitoring products. It is envisaged that these next generation monitoring products will be disposable, non invasive and capable of providing real time critical vital sign information. From the inception of the Alliance Toumaz will receive funds from its Strategic Partner for further development work.
Furthermore, the Strategic Partner has committed to provide funding and resources to assist in gaining any necessary regulatory approvals and will carry out global manufacturing, product marketing, sales and distribution.
The Directors of Nanoscience estimate, on the basis of existing market data, that the vital sign monitoring market already exceeds $1.5bn and continues to grow, whilst the Point of Care diagnostics worldwide market is estimated at $10bn and growing.
Toumaz will retain all the background intellectual property relating to its AMx(TM) platform and will be entitled to explore further revenue streams for the technology outside of the field of use being exploited jointly with its Strategic Partner.
It is anticipated that ongoing success within the program will result in a growing financial and technical commitment from Toumaz’s Strategic Partner and the Board look forward to reporting on further progress in the first half of next year.
Nanoscience has provided Toumaz with ongoing research and development funding and has continued to work closely alongside its management team to provide the additional commercial and corporate expertise that has resulted in the establishment of this landmark alliance.
Chris Toumazou, Chairman of Toumaz Technology Limited, commented, ‘The establishment of this alliance is a very positive development for Toumaz, and we now have the opportunity to provide end to end solutions in the personalized healthcare space. This has been a key strategic goal of the business that we now believe is deliverable.’
Guy Spelman, Nanoscience’s CEO, commented, ‘This is the most significant landmark in the seven year history of Toumaz as the road to commercialisation is now visible and we look forward to reporting on further progress throughout 2008.’
About Nanoscience Inc.
Nanoscience is a specialist niche investor in emerging technologies with a strong commercial proposition from within the medical technology and semiconductor sectors.
Toumaz, winner of the first prize at the fifth Oracle Partner Network (OPN) Innovation Awards for Europe, the Middle East and Africa and the IET Innovation Award for Electronics 2007 is a developer of advanced RF, analogue and mixed signal semiconductors. The focus of the business is low power devices based on the company’s proprietary AMx(TM) (Advanced Mixed Signal) technology which addresses the needs of lower power consumption for mobile and wirelessly connected systems.