FRANKLIN, Mass., June 26 /PRNewswire-FirstCall/ -- Sontra Medical
Corporation (Nasdaq: SONT) announced today that it has signed a
distribution agreement with JOYMG, a medical device distribution company
based in Seoul, Korea, to market and sell Sontra's SonoPrep(R) Skin
Permeation System in South Korea.
The agreement appoints JOYMG as the exclusive distributor of Sontra's
products in South Korea. JOYMG is obligated to use its best efforts to
market, promote and sell Sontra's products in South Korea. The agreement
provides for certain sales targets to be met by JOYMG over a 12 month
period, and if JOYMG meets or exceeds the sales targets, Sontra may receive
over $800 thousand (USD) in revenues under the agreement. The agreement is
subject to JOYMG obtaining approval by the Korean regulatory body (KFDA),
which JOYMG informed Sontra it expects to receive within 90 days. Training
of JOYMG's sales and marketing organizations by JOYMG will begin during the
next month and plans are being made for introduction of the SonoPrep System
at medical conferences in Asia.
Sontra Vice President of Sales and Marketing, Barry Marston stated:
"The recent regulatory approvals for the second generation SonoPrep System
have opened the doors to the international marketplace. Now that we have
ISO 14385 certification and CE marking, we hope that this arrangement is
the first of many global opportunities for Sontra and its SonoPrep System."
Mr. Marston commented further that: "JOYMG's growing presence in the
Asian aesthetic marketplace creates new opportunities for the SonoPrep
System abroad."
About JOYMG (http://www.joymg.com)
JOYMG is a leading medical aesthetic corporation, specializing in
liposuction devices, IPL (Intense Pulsed Light) and VPL (Variable Pulsed
Light) systems, CO2 and ND Yag lasers, external ultrasound, facial water
peeling systems, iontophoresis devices for lifting and slimming, carbon
dioxide therapeutic devices for fat reduction, and facial water peeling
devices for deep and superficial peeling. JOYMG was established in 1992,
and currently has sales in excess of $50 million (USD).
About Sontra Medical Corporation (http://www.sontra.com)
Sontra Medical Corporation is a technology leader in transdermal
science. Sontra's SonoPrep ultrasound-mediated skin permeation technology
combined with technical competencies in transdermal drug formulation,
delivery systems and biosensors is creating a new paradigm in transdermal
drug delivery and diagnosis. The SonoPrep technology is being developed for
several billion dollar market opportunities, including continuous glucose
monitoring and the transdermal delivery of large molecule drugs and
vaccines. Sontra is currently marketing the SonoPrep device and procedure
tray for use with topical lidocaine to achieve rapid (within five minutes)
skin anesthesia.
This press release contains forward-looking statements, which address a
variety of subjects including, for example, the expected technological
advances and availability of the second-generation SonoPrep device, the
expected benefits and efficacy of the SonoPrep device in connection with
diagnostics, vaccine delivery, glucose monitoring and transdermal drug
delivery, Sontra's expected ability to develop, market and sell products
based on its technology, including a continuous transdermal glucose monitor
for the hospital ICU market; the expected market opportunities,
distribution and market acceptance of the SonoPrep device and technology,
the expected size of the market for the continuous transdermal glucose
monitor for the hospital ICU; and Sontra's business, research, product
development, regulatory approval, marketing and distribution plans and
strategies. Statements that are not historical facts, including statements
about our beliefs and expectations, are forward-looking statements. Such
statements are based on our current expectations and are subject to a
number of factors and uncertainties, which could cause actual results to
differ materially from those described in the forward-looking statements.
The following important factors and uncertainties, among others, could
cause actual results to differ materially from those described in these
forward-looking statements: our technology is new and we may experience
adverse results in research and development efforts, product development,
clinical trials, product evaluations, commercialization efforts, product
distribution and market acceptance; markets for our products may develop
slower than expected, or not at all; our sales cycle is lengthy and we are
still developing sales and marketing strategies which may or may not prove
effective; the SonoPrep device may not prove effective in connection with
diagnostics, vaccine delivery, glucose monitoring and/or transdermal drug
delivery; we may experience difficulties or delays in obtaining regulatory
approvals to market products resulting from development efforts or
difficulties or delays associated with sources of regulatory-approved
transdermal drugs and vaccines; failure to obtain and maintain patent
protection for discoveries or commercial limitations imposed by patents
owned or controlled by third parties would have an adverse effect on us; we
depend upon strategic partners and third-party distributors to develop,
commercialize, market and sell products based on our work; and we require
substantial additional funding to conduct research and development and to
expand commercialization, distribution and marketing activities. For
detailed information about factors that could cause actual results to
differ materially from those described in the forward-looking statements,
please refer to Sontra's filings with the Securities and Exchange
Commission, including Sontra's most recent Annual Report on Form 10-KSB.
Forward-looking statements represent management's current expectations and
are inherently uncertain. We do not undertake any obligation to update
forward-looking statements made by us.
SonoPrep is a registered trademark of Sontra Medical Corporation. All
other company, product or service names mentioned herein are the trademarks
or registered trademarks of their respective owners.
Investor Relations Contacts:
Barry Marston, VP Sales & Marketing
508-530-0332
bmarston@sontra.com
Harry G. Mitchell, CFO
508-530-0311
hmitchell@sontra.com
SOURCE Sontra Medical Corporation
 back to top
Related links:
http://www.sontra.com
http://www.joymg.com
CONTACT:
Barry Marston, VP Sales & Marketing,
+1-508-530-0332, bmarston@sontra.com, or Harry G. Mitchell, CFO,
+1-508-530-0311, hmitchell@sontra.com, both of Sontra Medical
Corporation
|
