DEBIOTECH announces new Spin-off company for CT ExprésTM
Innovative CT ExprésTM Contrast Media Injector will be launched via a novel Spin-off Company in Switzerland,
involving a group of investors
(September 26, 2003)
Debiotech will spin-off one of its leading products for Diagnostic Imaging: CT ExprésTM, into a novel company which will be based in Switzerland
Lausanne, Switzerland, September 26, 2003 - Debiotech, S.A., a privately held Swiss Medical Device company (www.debiotech.com), announced today that it will spin-off one of its leading products into a novel Company which will be based in Switzerland.
The innovative CT ExprésTM Contrast Media Injector for CT Scan is one of the major development of Debiotech over the last few years. It is the first and only "multi-dose" injector cleared by the FDA for CT Scan imaging. This Injector, which is also CE marked, combines multiple advantages for both the hospital and technical staff, including time-savings, cost-savings and improved safety for the patient.
The new company, whose name will be announced at the RSNA Congress of Radiology in Chicago, will be a Spin-off of Debiotech. This new Company will also involve a group of investors with UBS as a financial advisor. The new Company should be self-financed and will ensure the launch of the CT ExprésTM worldwide through highly competent distributors, already selected in most of the major territories. The list of investors is not finalized at this stage, but Debiotech expects the round table to be closed by November this year.
The new Company has already hired highly experienced staff, with strong competencies in diagnostic imaging and Contrast Media injectors. The CT ExprésTM will first be presented at the RSNA in early December 2003. Production of CT ExprésTM and disposables is under final review and first sales are expected in early 2004.
"This new Company is a great experience for Debiotech. It will be the first time that one of our products will be launched via a Company spun-off of Debiotech, rather than through licensing arrangements. It is further a new business model for Debiotech with a high potential reward. We are extremely pleased looking forward to work in association with knowledgeable investors, who will certainly contribute a lot through their own experience into the succesful future of the new Company." says Frédéric Neftel, M.D., CEO of Debiotech.
The CT ExprésTM targets a niche market in the very High-Tech part of the Diagnostic Imaging, namely CT Scan and later also MRI. With its novel single-use disposable cassette and the use of standard Contrast Media bottles, CT ExprésTM offers the most convenient way of administering Contrast Media in the hospital and private imaging settings. In addition, CT ExprésTM features automatic saline flush to address a major need in today's imaging techniques.
The replacement of existing CT Scanners with novel multi-slice Scanners in all advanced imaging settings is further a unique opportunity for the new formed Company to expect reaching a dominant position in the first 3 to 5 years. Further developments in the area of Diagnostic Imaging are ongoing at Debiotech and will complement the portfolio of the new Company in short, as well as medium term.
CT ExprésTM Injector
The CT ExprésTM innovative double bottle power injector is intended for CT Scan imaging with or without saline flush. It automatically draws Contrast Media from original bottles (from 40ml to 1 litre) and switches over between two bottles whenever needed during a given procedure. The single patient use disposable peristaltic cassette is easy to load and secures aseptic manipulation throughout the entire procedure, as well as in-between patients. Security features are implemented to prevent accidental re-use of a cassette and air detection is integrated into the injector at 3 different levels. Flow rate is programmable between 0.2 and 9.9 ml/s and occlusion detection is ensured at 130 psi.
For further information, including interest for investing partners, please contact:
For UBS, acting as financial advisor:
M&A Advisory Small Caps Switzerland
Business Development Manager
28 avenue de Sevelin
1004 Lausanne, Switzerland