Optovent Reports Huge Leap Forward In Optoq Development

OPTOVENT REPORTS HUGE LEAP FORWARD IN OPTOQ DEVELOPMENT Milestones met for new non-invasive hemoglobin technology Optovent AB (publ) has previously announced its discovery of a novel method to use certain characteristics of light to, non-invasively, determine the hemoglobin concentration and hematocrit in blood. Advanced laboratory models, developed by its subsidiary OptoQ AB at the Berzelius Science Park in Linköping, Sweden, have thus demonstrated the precision of such measurements to be clinically equivalent to currently used invasive clinical tests. In its subsequent quest for a bedside clinical instrument, OptoQ's principal challenge has been the determination of a method to accurately, quickly, and reproducibly obtain and measure the relevant optical signals not only in laboratory models but also in the clinical setting (in vivo). Today, Optovent announces the passage of this principal remaining technological hurdle in its development program. This advance has significantly exceeded the Company's expectations and the proprietary methods employed not only meet the demand for simplicity and speed but will also permit the method's integration into existing medical technologies in ways that are expected to still further increase its clinical use. - "For decades, the medical instrumentation industry has sought to develop non-invasive methods for such common tests; pulse oximetry to measure blood oxygen is an example of such success and is now in routine clinical use representing a business in excess of USD 600 million. A non- invasive method to measure hemoglobin or hematocrit has so far eluded the industry and Optovent's technology therefore represents not only a substantial medical breakthrough but also an extraordinary business opportunity. With this announcement, OptoQ has now not only demonstrated the ability to non-invasively measure the relevant scientific signals in human beings but also demonstrated that the signals can be used to determine hemoglobin content. As a result, OptoQ, can now proceed to design bedside instruments for clinical use", reports Ingvar Pettersson, President of OptoQ. Such instruments will be the subject of confirmatory clinical trials which are necessary for regulatory clearance prior to commercial launch. Because of the remarkable simplicity of the method employed, it is also expected that OptoQ will be able to design instruments in which the method is combined with other broadly used monitoring instruments such as pulse oximetry and vital sign monitors. OptoQ has submitted appropriate patent applications providing intellectual property protection for its proprietary technologies for non-invasive diagnostic and monitoring applications. For additional information, please contact: Ingvar Pettersson, President, OptoQ AB. Telephone: +46706353541 E-mail: ingvar.pettersson@optoq.se Christer Jacobsson, President and CEO, Optovent AB. Telephone: +46705358893 E-mail: christer.jacobsson@optovent.se OptoQ AB is a subsidiary of Optovent AB, a medical technology company. OptoQ develops proprietary technologies for painless non-invasive measurements of hemoglobin for clinical use. Optovent AB(publ) is a Swedish medical technology company which produces and markets monitoring systems and technology platforms for safe and cost-effective patient monitoring. The company has developed a proprietary technology for respiratory and apnea monitoring. This technology has several clinical applications in post-operative care as well as patient monitoring during sedation, patient transportation, and other clinical conditions. It is also used as a diagnostic aid during cardiopulmonary evaluations. Shares of Optovent AB(publ) are publicly traded on the Stockholm New Market Exchange (Nya Marknaden, OM Stockholmsbörsen). Measurement of hemoglobin content or hematocrit in a person's blood is one of the most common blood tests performed worldwide, permitting clinicians to detect the presence of anemia. Hemoglobin is the part of blood that transports oxygen to tissue and an adequate concentration is critical to life. Hemoglobin and hematocrit tests are therefore conducted daily in numerous clinical situations, not only as part of routine illness evaluation and monitoring, but also among healthy individuals such as part of routine check-ups, screening before blood donations and to detect doping among athletes. On each occasion, however, measurements require the collection of the individual's blood through a needlestick. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/22/20010822BIT01090/bit0002.doc http://www.waymaker.net/bitonline/2001/08/22/20010822BIT01090/bit0002.pdf