SOURCE: Hathaway Corporation

November 05, 2007 06:31 ET

Hathaway's (HWYI) Subsidiary DDI Progresses Towards Clinical Trials and FDA Clearance

Physician Response to Third Prototype Overwhelmingly Positive

PALO ALTO, CA--(Marketwire - November 5, 2007) - Hathaway Corporation (PINKSHEETS: HWYI) announced that its subsidiary Diabetes Detection, Inc. (DDI) has received an overwhelmingly positive response from physicians for its third prototype and has begun the process of formulating the criteria parameters needed from clinical trials to insure we meet the needs of the FDA for final clearance of the neuropathic pager.

"The advanced stage in the development of the DDI product, evidenced by this highly mature prototype, has provided a strong impetus for acceleration in our operations plan," said Mr. Sadruddin Currimbhoy, Hathaway's COO, and interim CEO of DDI. "We have already begun the process to finalize the parameters that will allow us to go to clinical trials and submission for FDA clearance, well ahead of schedule. In addition, our engineers feel confident the processes we've implemented in the new pager prototype will be able to pinpoint the neuropathic level of the patient for an incredibly accurate detection process. This will lead to physicians having the ability to properly diagnose these levels and properly administer treatment to effectively treat their neuropathy and possibly head off further complications that can lead to diabetes."

The Diabetes Market

The American Diabetes Association estimates that 20.8m, or 7% of the entire population of the United States has diabetes -- with this expected to continue to grow at a dramatic pace. The ADA estimates that direct medical and indirect expenditures attributable to diabetes in the US alone is $132 billion (2002).

About DDI

Diabetes Detection Inc.'s patent-pending Neuropathy testing technology, converged with communications devices, facilitates the early detection of neuropathy that can lead to Diabetes and other chronic diseases. The company develops products and utilizes distributors to sell the products globally to managed care facilities, doctor groups, and hospitals for effective diagnosis of chronic diseases. For more information, please visit the website at www.diabetetesdetectioninc.com

Forward-Looking Statements

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

Contact Information

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    FutureTechIR for Hathaway Corporation
    Investor Relations
    (817) 812-2105