WayPoint Biomedical Receives Over-the-Counter FDA and CLIA Waived Clearance for Their Health Essist(R) Marijuana & Cocaine and
August 29 2006 - 10:42AM
PR Newswire (US)
HUNTINGTON BEACH, Calif., Aug. 29 /PRNewswire-FirstCall/ --
WayPoint Biomedical Holdings, Inc. (Pink Sheets: WYPH) has received
Food & Drug Administration (FDA) clearance for their two new
over-the-counter (OTC) home use drug tests. The Health Essist(R)
Marijuana & Cocaine and Multi-Drug Cup (tests for 7 different
drugs) tests will be entering the rapidly growing OTC
Drugs-of-Abuse Testing Market -- estimated at over $30 million --
this fall, providing an easy-to-use, highly affordable, premium
quality set of tests. WayPoint Global Director of Sales &
Marketing, Phil Richer, comments, "We are very excited with the
tremendous news that our drugs-of-abuse tests are now cleared for
OTC commercialization. The Health Essist(R) line has been developed
to allow the public to purchase affordable tests for use in the
privacy of their own homes." Mr. Richer adds, "Our home drug tests
were developed to address the ever growing substance abuse issue;
providing parents with additional tools to help combat this
problem." With over 99% accuracy, the urine based tests includes a
feature that will allow the purchaser to anonymously submit their
sample to an independent laboratory for outside confirmation, if so
desired. About WayPoint Biomedical: WayPoint Biomedical, Inc., a
wholly owned subsidiary of WayPoint Biomedical Holdings, Inc. (Pink
Sheets: WYPH), is an innovative biomedical technology firm,
specializing in diagnostic tests and devices for screening and
monitoring human health, fitness and environment. The Company
develops and markets cutting-edge disposable rapid tests that offer
both a preliminary diagnostic screen to specific conditions, along
with a future path for consumers, medical providers, and first
responders to follow regarding their health status or environmental
condition. WayPoint's unique and affordable home-based and on-site
tests are focused on detecting the cause of a disease or pathogen,
as opposed to determining the symptom; becoming a part of the
solution to help reverse the escalating cost of Healthcare. The
Company's primary target sectors are the Over the Counter (OTC)
Self-Testing Market, the Diagnostic Point of Care (POC) Testing
Market, and the Homeland Security & Defense Market; three of
the fastest growing areas in all of diagnostic medicine and
science. For more information on WayPoint Biomedical visit
http://www.waypointbiomedical.com/ ,
http://www.drinkdetectiveusa.com/ . Included in this release are
certain "forward-looking" statements, involving risks and
uncertainties, which are covered by the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, including
statements regarding WayPoint's performance. Such statements are
based on management's current expectations and are subject to
certain factors, risks and uncertainties that may cause actual
results, events and performance to differ materially from those
referred to or implied by such statements. In addition, actual
future results may differ materially from those anticipated,
depending on a variety of factors, including continued maintenance
of favorable license arrangements, success of market research
identifying new product opportunities, successful introduction of
new products, continued product innovation, the success of
enhancements to WayPoint's brand image, sales and earnings growth,
ability to attract and retain key personnel, and general economic
conditions affecting consumer spending, including uncertainties
relating to global political conditions, such as terrorism. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. WayPoint
Biomedical does not intend to update any of the forward-looking
statements after the date of this release to conform these
statements to actual results or to changes in its expectations,
except as may be required by law. Dennis Shepherd, 714-848-3200
E-mail: Investor Relations: The Steven Fox Group Steven Fox,
831-333-1452 E-mail: DATASOURCE: WayPoint Biomedical, Inc. CONTACT:
Dennis Shepherd of WayPoint Biomedical Holdings, Inc.,
+1-714-848-3200, ; or Investor Relations, Steven Fox of The Steven
Fox Group, +1-831-333-1452, , for WayPoint Biomedical, Inc. Web
site: http://www.waypointbiomedical.com/
http://www.drinkdetectiveusa.com/
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