Unsolicited Propositions Received For The Sale, Licensing Or Joint Venture Of Genultimate TBG, No Proposal Yet Acceptable But Improvement Seen
LOS ANGELES, CA / ACCESSWIRE / May 29, 2019 / Decision Diagnostics Corp. (OTC PINK: DECN) is a 17 year old, diabetes-focused bio-technology R&D firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! (‘Sunshine’) diabetes test strip, the internationally launched GenSure! (‘Feather’) diabetes test strip, and its GenChoice! (‘Ladybug’) test strip now under review for FDA 510K clearance. The company also markets the PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system, and the GenUltimate! Test 4Pets test strip and Avantage! meter launched earlier in 2019, and the panacea GenUltimate! TBG (‘Dragonfly’) highly precise diabetes testing system, ready for clinical trials.
The company is pleased to announce that we have received three inquiries and propositions from three parties, two U.S. based and one internationally, for the wrapping of our new “TBG” technology into one of three types of transactions:
- Sale of the company or asset sale with valuation and bonus placed on our GenChoice and TBG technologies
- Exclusive license of the TBG technology inclusive all new uses/products that follow GenUltimate TBG
- A joint venture for the international rights to TBG, to be manufactured in Japan or by that party’s Korean agents
Keith Berman, CEO of Decision Diagnostics comments, “We have spent a substantial amount of time digesting propositions for our GenUltimate TBG technology, and while we have favorable views of all three propositions, primarily because of the pedigree of the people behind the proposals, we are not yet ready to make a choice of a preferred type of transaction. At the moment the most promising of the propositions is the sale of an exclusive license to GenUltimate TBG, primarily because we can solve another issue we are wrestling with. We plan to discuss this other issue in the coming days. The company also expects to receive a fourth proposition from a well known international technology and manufacturing conglomerate that I have worked with in the past. We expect this proposition around June 10.
The Company also announces that in field and third party testing of GenUltimate TBG, it has obtained verifiable accuracy data showing that even without the TBG features employed, GenUltimate TBG achieved repeatable accuracy of +/- 8%, over 95% of the time when used in conjunction with the Lifescan Ultra family of meters, and +/- 7%, more than 97% of the time while correcting for HCT interference when used in conjunction with our own GenUltimate TBG Precise meter. We intend to complete two clinical studies, one study using 150 donors, and other using 250 donors. The first clinical will begin immediately, the other as soon as we receive quantities of our GenUltimate TBG Precise meters.
Mr. Berman continued, “Based on our nearly one year of studies, including 3rd party studies, we have concluded that our GenUltimate TBG product is ready for Prime Time. The performance of this diagnostic is second to none in an industry, startling really, where innovation has slowed, and the channels, both domestically and internationally, are still controlled by four large pharma companies. We are using this communique to inform our prospective partners, our Big Box targets, shareholders, investors and other interested parties that our TBG product will be launched in select international markets beginning June 6, 2019. As before we will build our Web Sites with complete information, provide our distributors and dealers with samples, schedule meetings with five Big Box entities, and begin a social media campaign primarily in international markets.”
As stated previously, the company is now in full monetize mode, and for many of us, we see bright light up ahead. The launch of GenUltimate TBG is the biggest event in the company’s history. And monetizing our creation is Number 1 on our list. While the ride has at times has been inconsistent, the directors and the staff, and even several of our investors, are all working for the same goal, the anticipated surge in shareholder value.”
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN’s products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $12 billion at-home testing market.
This release contains the company’s forward-looking statements which are based on management’s current expectations and assumptions as of May 28, 2019, regarding the company’s business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
Decision Diagnostics Corp.
Keith Berman (805) 446-2973
SOURCE: Decision Diagnostics Corp.
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