SOURCE: In Veritas Medical Diagnostics Inc.

October 11, 2005 09:41 ET

In Veritas Announces Launch of New Subsidiary

INVERNESS, SCOTLAND -- (MARKET WIRE) -- October 11, 2005 -- IVMD Inc, a novel medical device company (OTC BB: IVME), today announced that it has launched a new subsidiary company to develop veterinary applications of its ground breaking medical diagnostics.

The new company, 'IVMD Veterinary Ltd,' will be incorporated in Inverness, Scotland, and initially focus on the final development and manufacturing of the recently announced equine foaling predictor. As such it will work closely with Jopejo Ltd, the company behind the scientific development and the human device, and BCF Technology Ltd with whom IVMD have signed a sales and marketing agreement for the worldwide distribution of the equine product.

Brian Cameron, Chief Operating Officer of IVMD, said, "It has become increasingly clear that veterinary derivatives of our products can provide significant revenue. The formation of a separate division both demonstrates our commitment to the veterinary sector and allows our core business to remain focussed on the rapid delivery of new products for human diagnostics."

John Fuller, President and CEO of IVMD, said, "This marks an important stage in the development of our technology licensing process. The formation of a separate division allows us to selectively target vetinary application areas, and attract additional grant funding. This builds on our recently announced partnership with BCF technologies to exploit the Equine birth prediction system."

About IVMD, Inc.

IVMD develops medical devices for near patient testing and monitoring using exciting lateral applications of novel, physical measurement techniques.

Our products serve large global markets in the monitoring of 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. The second is 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. From across all sectors of industry, our development team use our patented technology to create rapid prototype and product development.

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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