Sontra grants SonoPrep(R) technology license option to HortResearch
FRANKLIN, Mass. & AUCKLAND, New Zealand, Nov. 22 /PRNewswire-FirstCall/ --
A unique device, designed to take the sting out of the doctor's needle, could
soon help elite athletes and sports teams develop the winning edge.
Sontra Medical Corporation (Nasdaq: SONT) and The Horticulture and Food
Research Institute of New Zealand Limited (HortResearch) announced today that
they have entered into a research collaboration agreement to evaluate the use
of the SonoPrep(R) skin permeation device for sports performance monitoring.
Sontra also granted HortResearch a one-year option to obtain an exclusive,
worldwide license to Sontra's SonoPrep(R) skin permeation technology for the
sports performance field. If HortResearch elects to license the technology,
Sontra will receive a license fee consisting of a $500,000 cash payment and
equity worth $500,000 in a new company that HortResearch will form to develop
and commercialize the technology.
SonoPrep(R) is a small, battery-powered device that works by applying low-
frequency ultrasonic energy to the skin. The sound waves open small cavities
in the skin by disorganizing the lipid bi-layer, creating tiny, reversible
channels through which fluids can be extracted and delivered. The skin goes
back to its normal state within 24 hours.
Currently marketed by Sontra Medical for accelerating delivery of topical
anesthetics, SonoPrep(R) is also the subject of clinical research in glucose
monitoring and enhancing delivery of vaccines.
HortResearch and Sontra will evaluate the device for sports performance
monitoring by extracting tiny samples of fluid from beneath the skin of top
athletes.
This interstitial fluid contains biochemical markers that provide detailed
information on how an athlete's body is responding to training, competition,
injury and post-activity recuperation.
HortResearch has studied these markers since 1999, and works with some of
Australasia's top professional sports teams, including the Emirates Team New
Zealand America's Cup yachting squad. The technology is helping teams improve
performance through optimizing training programs and recovery strategies.
HortResearch CEO Paul McGilvary said SonoPrep's non-invasive skin
permeation technology will greatly enhance his company's ability to develop
commercial products for sports performance monitoring, as well as providing
information vital to HortResearch's strategic activities in human health and
nutrition.
"HortResearch scientists made the observation that low-frequency
ultrasound applied to the skin can facilitate the transdermal sampling for
biochemical markers of performance in athletes. Now, thanks to our partnership
with Sontra, we are closer to commercializing that knowledge."
Mr. McGilvary said SonoPrep(R) would allow scientific understanding of
human strength development, performance readiness and fatigue recovery to be
directly applied in the sporting arena.
"Coaches and trainers often have to rely on instinct and intuition,
without scientific backup. Working with sports professionals, HortResearch
will use its knowledge to help coaches and trainers create athlete-specific
training regimes to better reflect the physical needs and performance
requirements of individual athletes."
Sontra's President and CEO, Thomas W. Davison, PhD said his company is
pleased to have entered into the research collaboration with HortResearch.
"We are very impressed by HortResearch's vision that athletes can optimize
their individual performance by monitoring the body's natural production of
endogenous steroids and other natural bio-markers.
"We look forward to working with HortResearch, and believe our
collaboration will quickly lead to new and exciting advances in non-invasive
sampling and sports performance monitoring."
About Sontra Medical Corporation (http://www.sontra.com)
Sontra Medical Corporation is a technology leader in transdermal science.
Sontra's SonoPrep(R) 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(R) 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(R) device and procedure tray for use with
topical lidocaine to achieve rapid (within five minutes) skin anesthesia.
About HortResearch (http://www.hortresearch.com)
HortResearch is a New Zealand-based research and development company using
unique resources to provide novel technologies and innovative fruit and food
products with high consumer appeal. Working with industry and utilizing skills
in human physiology, gene mapping, biochemistry, genetics and plant genomics
HortResearch seeks new ways to improve human health, wellbeing and
performance. HortResearch seeks to enhance human health and sports performance
through the development of biosensor technologies that provide real-time data
on key biological indicators within the human body. The company also develops
breakthrough science and technology to meet emerging markets for functional
foods and naturally produced flavours and fragrances.
Investor Relations Contacts:
Sontra Medical Corporation
Sean Moran, Chief Financial Officer
508-530-0334
HortResearch
Roger Bourne, Senior Communications Advisor
Ph ++61 9 815 4200 ext 7057 (EST +18 hours)
Mob ++61 27 207 1712
Email rbourne@hortresearch.co.nz
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.
This press release contains forward-looking statements, which address a
variety of subjects including, for example, the expected benefits and efficacy
of the SonoPrep device in connection with diagnostics, vaccine delivery,
glucose monitoring and transdermal drug delivery, the expected benefits and
results of the research collaboration with HortResearch; the expected timing
of the license option exercise and receipt of the license fees; the expected
market opportunities, distribution and market acceptance of the SonoPrep
device and technology, the expected size of the markets for the SonoPrep
device and technology, 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
collaborations, product development, clinical trials, product evaluations,
commercialization efforts, product distribution and market acceptance; the
SonoPrep device may not prove effective in connection with diagnostics,
vaccine delivery, glucose monitoring and/or transdermal drug delivery;
HortResearch may determine not to exercise the license option and we may not
receive any further option or license fees; 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; difficulties or delays in obtaining regulatory approvals to market
products resulting from development efforts; difficulties or delays associated
with sources of regulatory-approved transdermal drugs and vaccines; failure to
obtain and maintain patent protection for discoveries; commercial limitations
imposed by patents owned or controlled by third parties; dependence upon
strategic partners and third-party distributors to develop, commercialize,
market and sell products based on our work; and the requirement for
substantial 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 Quarterly Report on Form 10-QSB. 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.
SOURCE Sontra Medical Corporation
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Related links:
http://www.sontra.com
http://www.hortresearch.com
CONTACT:
Sean Moran, Chief Financial Officer of Sontra
Medical Corporation, +1-508-530-0334; or Roger Bourne, Senior
Communications Advisor of HortResearch, ++61 9 815 4200 ext 7057
(EST +18 hours), or Mobile: ++61 27 207 1712,
rbourne@hortresearch.co.nz
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