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Announces Collaboration With Cornell University Center for Materials Research
Jose Mir, President of SensiVida Medical Technologies, Inc. (PINKSHEETS: SVMT), a company developing painless bio-medical diagnostic devices, announced today that the company has been awarded JumpStart program funding from the Cornell Center for Materials Research (CCMR) for the Fall semester, 2010. JumpStart projects, supported by grants from the New York State Foundation for Science, Technology and Innovation (NYSTAR), enable businesses to work collaboratively with faculty on fundamental aspects of emerging technologies in the area of materials science. The CCMR program chooses projects with the greatest potential for creating a mutually beneficial, long-term relationship with Cornell University.
SensiVida Medical Technologies, Inc. is developing a painless glucose biomedical monitor for diabetic patients and at-risk individuals that will automatically provide accurate, periodic measurements of their blood glucose levels, without the need for blood extraction, and enable them to better adjust their lifestyles, diets, and medication. The novel diagnostic technology is expected to improve test compliance and significantly improve quality of life and long term health.
Through this JumpStart project, SensiVida will work in collaboration with Cornell University Professor Antje Baeumner, who has researched extensively in the areas of biosensors and nanotechnology, Together, Baeumner and SensiVida research scientists will seek to develop further understanding of material stability and reproducibility to help guide selection of the most reliable chemical sensing system for their innovative glucose biomedical monitor.
Commenting on this collaboration, Mr. Mir said, "Our scientists are very excited to work with such a world renowned scientist as Professor Baeumner. She is the Chair of the 2010 Gordon Research Conference on Bioanalytical Sensors and has published many important publications in the area of biosensors and micro-Total Analysis Systems." Professor Baeumner has secured more than $5 Million in federal and foundation funding for her research and has mentored over 30 graduate and over 60 undergraduate students in her research group.
Dr. Baeumner recently commented on this important joint project, stating, "The collaboration with SensiVida through the CCMR JumpStart project will provide a unique opportunity to carry out important fundamental research with an eye on commercialization in the development of SensiVida's novel biosensing systems. This will be the beginning of a long-term research relationship between the Baeumner Biosensors and Bioanalytical Microsystems Laboratory and SensiVida."
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.
About SensiVida Medical Technologies
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.sensividamedtech.com.
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David R. Smith
Chairman of the Board
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
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