SOURCE: In Veritas Medical Diagnostics Inc.

December 06, 2006 07:00 ET

IVMD Inc. Reports Showcase of New Technology at Medica a Major Success

INVERNESS, SCOTLAND -- (MARKET WIRE) -- December 6, 2006 -- IVMD, Inc. (OTCBB: IVME) (FRANKFURT: I7VF) IVMD exhibited two new technology platforms for the first time at the Medica Exhibition in Düsseldorf during November. Medica is the world's pre-eminent exhibition to showcase products and technologies within the healthcare industry and our presence at the exhibition was a major success in terms of identifying commercial opportunities.

The technology represent the core of our short term strategy; (a) our Magnetic Particle Immunoassay System, which is at the cutting edge of technical developments in the point-of-care field and; (b) our solar powered Digital Strip Reader, which is differentiated by its size, portability, cost and eco-efficiency and which has a wide variety of diagnostic applications.

Damian Bond, who leads business development at IVMD, commented: "I went to Medica expecting a lot of interest in these new platforms and was not disappointed -- Medica presented the first opportunity to showcase what we have been developing. Both of our new technology platforms are at the forefront of medical diagnostic technology and have considerable product application potential in the medical diagnostics market. Many companies show new technology at Medica, but the example of our Prothrombin reader previously developed for Inverness Medical Innovations clearly sets IVMD apart as a credible business that can deliver products as well as new inventions to the market. We received much attention with over twenty companies expressing a serious interest in working with us to commercialize product applications. We are now following up with each of them."

Graham Cooper, CEO of IVMD, stated, "I am delighted with the level of serious interest that came to us at Medica. Our main challenge is taking our excellent technology and experienced know-how in magnetic detection and focusing this broad capability in areas that present commercial opportunity on the scale that will build serious value. Our decision to focus on these two platforms came out of a deliberate strategic plan designed to match our technology with mass market needs, focusing on our unique points. Medica appears to validate this strategy and we will now focus on narrowing our product strategy with selected partners."

About IVMD, Inc.

IVMD uses its proven, patented core technology to design, develop and test medical devices for near patient testing and monitoring

Our products serve large global markets in the monitoring of chronic conditions affecting large numbers of the population.

Our first product to market will be a device for measuring the coagulation of blood in patients with cardiovascular disorders. This product is close to market release.

Our scientists are currently working on several other distinct hand-held or highly portable products which make use of our core know-how and technology and are focused on (a) the measurement and detection of pregnancy and labour and (b) the detection of diseases and medical conditions using magnetic detection techniques applied to tissue and blood.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "believe,'' "expects,'' "projects,'' "forecasts,'' "intends,'' "will,'' "anticipated,'' "could,'' or "may,'' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the act and are subject to the safe harbour created by the act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties.

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