SOURCE: In Veritas Medical Diagnostics Inc.

July 06, 2006 08:02 ET

In Veritas Announces Research Focus

INVERNESS, SCOTLAND -- (MARKET WIRE) -- July 6, 2006 -- IVMD Inc. (OTCBB: IVME), a novel medical device company, today announced changes to focus on its Research Programs.

With its first product in the last stages of commercialisation, IVMD has deployed its product development team onto its next range of products. The focus of the team is now firmly on the application of its technology on immunoassay platforms for the Point of Care diagnostics market.

The company's technology is being used in magnetic measurement of minimally invasive immunoassays and specifically allows for the sensitive measurement of very low levels of biological markers that are important in the diagnosis and treatment of many diseases and medical conditions.

The technology uses the amplification effects of magnetic particles within an immunoassay to achieve high sensitivity. A patent was filed in this area in 2005, and it is expected that this research will lead to other novel applications.

John Fuller, CEO Operations of In Vivo Medical Diagnostics, said, "This development program will focus on delivering a sensitive, universal platform that can be used for a number of different analyses. It is being specifically designed to work at very low power and sample volumes so that it can target the largest markets in Home Point of Care. Our key customers have defined the market needs for us, and we are specifically working on solutions in those areas."

IVMD is also working actively on commercialising its other proven solutions.

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 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 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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