StatSure Diagnostic Systems, Inc. (OTCBB: SSUR)
StatSure Diagnostic Systems manufactures and markets a patented rapid point of care testing device for infectious diseases, as well as oral fluid specimen collection devices using a patented volume adequacy indicator for drugs of abuse testing and other clinical uses.
Statsure completed the sale of $2.15 million of its Series 2006 A 8% Convertible Preferred Stock to institutional investors.
StatSure Diagnostic Systems’ primary business relates to a patented technology that provides convenient, safe and inexpensive point-of-care testing for certain infectious diseases.
Statsure’s first commercial introduction of this platform is expected to be in screening for HIV antibodies–a very large and growing market that is likely to expand into OTC segments in the near future. This funding will permit StatSure to commercialize its IP across a broad range of infectious disease testing opportunities beyond AIDS.
Mr. Steve Peltzman, CEO and Chairman stated: “This financing represents an important milestone in our progress towards commercializing our rapid-diagnostic disease product technology. In addition, these funds will enable us to capitalize on the growing market demand for our oral fluid collection device. This product line is currently sold on a private-label basis as part of certain manufacturers’ drug of abuse testing kits. Benefits include a patented volume adequacy indicator and elimination of a centrifugation step in preparing the sample. StatSure will invest in building the on-going revenue base of this high margin product line and take advantage of the increasing external demand for oral fluid testing for drug of abuse, certain cancers and other novel analytes”.
Source:� StatSure Diagnostic Systems, Inc.
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