DOBI Medical International and BIOTECH Medical Corporation sign Sales Distribution Agreement for the ComfortScan™ System in Central America
Agreement for distribution in Panama, Costa Rica, Colombia, and Nicaragua
Mahwah, NJ, July 15, 2004. DOBI Medical International, Inc. (OTCBB:DBMI) today announced it has signed an agreement with BIOTECH Medical Corporation, Inc. of Panama City, Panama for the marketing, sale and service of DOBI Medical’s ComfortScan™ system in the key Central American markets of Panama, Costa Rica, Colombia and Nicaragua. The ComfortScan system is a non-invasive, non-ionizing, and gentle dynamic optical imaging system designed to assist physicians in the detection and management of breast cancer.
The sales agreement calls for BIOTECH to place an
initial purchase order for a ComfortScan system in the third quarter of
2004, and to conduct an initial clinical trial within the region.
Further orders are anticipated upon the completion of that trial.
“We are honored to have an experienced medical distributor like BIOTECH Medical as our business partner because of their excellent domestic reputation and expertise in Central America. Breast cancer is a growing medical issue in Central America and we believe that the ComfortScan medical imaging system is an important tool to assess the suspected malignancy of identified lesions in the breast.” Denis A. O’Connor, Senior Vice President of Sales, Marketing, and Service stated. “Upon the successful completion of the trial, our ComfortScan system will be widely distributed in Central and South America representing the initial, international commercial launch. In addition, we have increasing interest within a number of other countries for this product. This agreement represents another step forward for DOBI Medical in the international market.”
About DOBI Medical International, Inc.
DOBI Medical is a development stage medical imaging company working to create a new means for the improved diagnosis of cancer through the detection of abnormal vascularization ("angiogenesis") associated with tumors. DOBI Medical’s first application of the technology is the ComfortScan system, a gentle, non-invasive, non-ionizing, dynamic optical imaging system designed to assist physicians in the detection and management of breast cancer. The ComfortScan system is intended to achieve this by providing new, physiology-based imagery of abnormal vascularization in the breast that are not readily available today. The DOBI Medical ComfortScan system is limited by U.S. law to investigational use. This product is not yet commercially available in the U.S., and its future availability in the U.S. cannot be assured.
CAUTIONARY STATEMENT FOR FORWARD LOOKING STATEMENTS
Statements contained in this press release may contain information that includes or is based upon certain "forward-looking statements" relating to the business of DOBI Medical. These forward-looking statements represent management’s current judgment and assumptions and can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are frequently accompanied by the use of such words as “anticipates”, “plans”, “believes”, “expects”, “projects”, “intends”, or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to our ability to secure additional financing; success of product development efforts; our ability to timely meet federal, local and foreign government and industry regulations and standards; timely and successful completion of our patient clinical trials and submission of our pre-market approval application to the FDA; final approval of our ComfortScan system by the FDA; delays in the manufacturing process caused by our inabilities or the inabilities of our subcontractors to timely meet our specifications; our ability to establish international and domestic distribution networks, our ability to timely export our products to international markets; acceptance and use of our ComfortScan system by physicians, imaging clinics, and patients; our ability to obtain third party payer reimbursement; and our ability to compete on price and quality. Any one of these or other risks and uncertainties may cause actual results to be materially different from those described herein or elsewhere by us. Certain of these risks and uncertainties are or will be described in greater detail in our filings from time to time with the Securities and Exchange Commission, which we strongly urge you to read, including our 2003 Annual Report on Form 10-KSB and our Quarterly Report for the period ending March 31, 2004. Subsequent written and oral forward looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the cautionary statements and risk factors set forth above and elsewhere in our reports filed with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward looking statements.
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