SOURCE: SensiVida Medical Technologies, Inc.

Sensivida Medical Technologies, Inc.

September 15, 2010 08:00 ET

SensiVida Medical Technologies, Inc. Receives Research and Development Boost Through JumpStart Program and Cornell University Partnership

HENRIETTA, NY--(Marketwire - September 15, 2010) - SensiVida Medical Technologies, Inc. (PINKSHEETS: SVMT) is pleased to announce that they are one of three New York State (NYS) businesses selected to receive the Jumpstart Program award for the Fall 2010 semester, in alliance with the Cornell Center for Materials Research (CCMR).

Funded by the New York State Foundation for Science, Technology and Innovation (NYSTAR), the JumpStart Program is designed to work in conjunction with NYS businesses to assist them in developing and fine-tuning their products, along with solving any concrete problems that may be related to materials. Assistance is provided through collaboration with university research centers. Selection into this program will provide SensiVida with the ability to utilize university expertise for one semester, build a relationship with university faculty, researchers and facilities and to be awarded funding through NYSTAR.

During this project, SensiVida, collaborating with Cornell Professor Antje Baeumner, will be concentrating on perfecting their innovative glucose monitoring system currently in development. The teams' focus will be on developing a further understanding of the reproduction and stabilization of the materials used in their chemical sensing systems coating. SensiVida's state-of-the-art glucose monitoring device will offer patients increased benefits compared to devices currently available on the market, including: automated timed measurements, no blood extraction, convenient data recording -- delivered directly to patients digital records, virtually pain free, wireless transmission to nursing station, alerts for dangerous levels, etc.

SensiVida is delighted to have the opportunity to work with Biological and Environmental Engineering Professor Antje Baeumner, a renowned researcher in the area of biosensors and nanotechnology. Professor Baeumner recently stated that she is excited to build a long-term relationship with SensiVida and is looking forward to carrying out fundamental research regarding SensiVida's cutting edge biosensing systems.

About SensiVida Medical Technologies, Inc.

SensiVida is a developer and provider of minimally invasive diagnostic devices with proprietary, microsystems-based technology that automates bio-sensing and data acquisition while minimizing patient discomfort. The Company's optical-digital platform technology addresses a number of multi-billion dollar market opportunities: allergy testing, pain-free automated glucose monitors, blood coagulation testing, TB testing, cholesterol monitoring, and more.

SensiVida has an exclusive worldwide license to nine pending patents. In addition to the SensiVida allergy test, the product pipeline, based on the same microsystem and image processing technology, includes a portable glucose monitor. This device consists of a patch or chip having multiple, individually addressable sensors that are activated in accordance with the patient's test schedule, automatically recording the patient's glucose level without pain, bio-fouling or clogging. For more information about SensiVida, please visit www.sensividamedical.com.

Forward Looking Statements:

Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the company's ability to implement its long range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. See the Company's most recent Quarterly Report on Form 10Q and related 8-K filings.

Contact Information

  • Company Contacts:
    Jose Mir
    President
    585-214-2407
    Email Contact

    David R. Smith
    Chairman of the Board
    585-230-5171
    Email Contact

    IR CONTACT
    Stanley Wunderlich
    Consulting For Strategic Growth 1, Ltd.
    880 Third Ave, 6th Floor
    New York NY 10022
    Telephone: (800) 625-2236 ext. 7770
    Fax: (646) 205-7771
    Email: Email Contact