FMS ENTERS INTO JOINT RESEARCH AGREEMENT WITH
ALBANY NANOTECH, AND OPTIONS ORGAN TRANSPORT MARKET TO BREONICS
Princeton, NJ -- September 11, 2006 -– FMS announced today that it has signed a license option agreement with Breonics Inc. in Otisville, NY. Breonics wishes to make use of FMS's transdermal biosensor technology in its live organ transport/transplant system, to allow it to remotely assess the status of live organs in transport.
The agreement contemplates joint research under a $750,000 grant to Breonics from the New York Science, Technology and Academic Research program ("NYSTAR") to develop FMS's FlexMedPatchTM technology for use in Breonics organ transport equipment. The grant will be be administered over approximately the next year at Albany Nanotech.
Breonics is a biomedical research and development company on the cutting edge of innovative medical products for the clinical organ transplant and tissue replacement markets.
Flexible Medical Systems LLC is a privately held, specialty medical device and diagnostics company focused on the development of new and innovative remote biomonitoring products and technologies for the connected healthcare market. FMS has filed for U.S. and international patents, and is in the process of expanding its patent portfolio. The applications of FMS technology are widespread and addressable revenues are significant in numerous medical, animal, homeland security markets and personalized medicine.
Contact:
Richard Smith,President
Flexible Medical Systems
Phone: 609.651.8015
rsmith@flexmedsys.com