SOURCE: In Veritas Medical Diagnostics Inc.

August 23, 2006 08:21 ET

In Veritas Announces Commercial Appointment

INVERNESS, SCOTLAND -- (MARKET WIRE) -- August 23, 2006 -- IVMD Inc, a novel medical device company (OTCBB: IVME), today announced the appointment of Geoffrey Beanland as an External Advisor to the Science Board.

Geoffrey's experience spans over 30 years working in Healthcare and Science and Technology Industries, both nationally and internationally.

He is a Company Director with an extensive background in corporate strategy, investment, commercial and economic development and has had substantial international exposure to press and media. He also holds a number of Non Executive Directorships within the healthcare sector.

His experience was gained in organisations such as The Medical Research Council, Scottish Development Agency (Head of Healthcare Division), Baxter International and Convatec Europe (Bristol Myers Squibb) before setting up his own Company specialising in the commercialisation of science and technology.

Geoffrey said, "I am delighted to be able to contribute to IVMD's Science and Commercialisation strategy. My background in getting medical devices to market will add to IVMD's internal skills to develop products more quickly. With my extensive industry network I can also help in creating commercial contacts to allow the commercialisation of IVMD's products."

Trish Connolly, IVMD's Chief Science Officer, said, "Geoffrey's expertise will add greatly to our Science process and will help develop the strategic direction for our next generation of products. The team looks forward to working with him in this role."

This appointment complements the skills of IVMD's already developed capability.

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. Two applications form the focus of current development work. The first is a device for measuring the coagulation of blood in patients with cardiovascular disorders which is in the last stages of clinical trials. The second a device that predicts the onset of human labour up to several weeks before birth.

Our scientists are currently working on several exciting minimally and non invasive additional products based on novel, highly sensitive immunoassays. From across all sectors of industry, our development team uses our technology to create rapid prototype and product development, in partnership with major marketing and distribution partners.

IVMD actively seek bespoke product development, manufacturing, marketing and distribution agreements.

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 harbor 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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