ONTARIO, Calif., Oct. 20, 2003 (PRIMEZONE) -- LifePoint, Inc. (AMEX:LFP), a leader in non-invasive drug diagnostic technologies and solutions, announced today that the Company has been granted approval from the United States Patent Office for a patent entitled "Novel Reagents For Detecting Cannabinoids," containing 62 claims. This Device and Method patent describes the synthesis of novel cannabinol-based tracers suitable for use in immunoassays for the detection of marijuana or its derivatives in biological fluids.
"This invention is of great value to LifePoint because it allows us to develop new detection reagents with greater flexibility in customizing synthesis of key assay components," said Thomas J. Foley, Ph.D., Senior Vice President of Research and Development. "The invention allows for the use of structurally similar THC analogs rather than the parent drug molecule to be used in the testing process. The use of this invention not only improves the reagent performance in the flow immunosensor technology, but also decreases the cost at which new tests can be developed for the LifePoint(r) IMPACT(r) Test System.
"This application further strengthens LifePoint's patent portfolio, now consisting of 29 patents issued or pending, and provides additional protection around our base of two core technologies -- the flow immunosensor technology, licensed from the United States Navy, and the use of saliva as a surrogate for providing blood-comparable results," said Linda H. Masterson, President and CEO. "This patent improves the performance of our unique IMPACT Test System, while also reducing our manufacturing costs for the disposable saliva test modules."
About LifePoint, Inc
LifePoint, Inc., a leader in non-invasive drug diagnostic technologies and solutions, has developed, manufactures and markets the IMPACT(r) Test System -- a rapid diagnostic testing, screening and drug monitoring device for use in law enforcement and the workplace, and in the future, ambulances, pharmacies, and home healthcare markets. LifePoint's patented and proprietary technologies for the use of saliva as a non-invasive, blood-comparable test specimen, used in conjunction with the flow immunosensor technology licensed from the United States Navy, have allowed LifePoint to develop a broadly applicable, rapid, on-site diagnostic test system. The first product simultaneously detects drugs of abuse and alcohol. The initial three target markets -- law enforcement, industrial workplace and medical emergency room -- are estimated to be over $1.6 billion in total opportunity.
This press release contains forward-looking statements regarding future events and the future performance of LifePoint, Inc. that involve risks and uncertainties that could cause actual results to differ materially. Although the Company believes that the expectations reflected in any forward-looking statements made herein are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. The Company undertakes no obligation to update any forward-looking statements made to conform to actual results or to changes to expectations. These risks include, but are not limited to the need to hire personnel, dependence on third parties for certain marketing efforts, FDA 510(k) clearance in medical markets, market acceptance and potential need for additional financing. These risks and others are described in further detail in the Company's reports filed with the Securities and Exchange Commission.
LifePoint(r) and IMPACT(r) are trademarks of LifePoint, Inc.