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Name | Symbol | Market | Type |
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Bk. America 34 | LSE:AG67 | London | Medium Term Loan |
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RNS Number:5725Q IDMoS plc 30 August 2005 FOR IMMEDIATE RELEASE 30 AUGUST 2005 IDMoS plc ANNOUNCES GLOBAL COLLABORATION AND COMMERCIALISATION AGREEMENT WITH DENTSPLY INTERNATIONAL FOR ITS DENTAL ACTIVITIES IDMoS plc (AIM: IDO), the specialist in disease detection and monitoring technology, is pleased to announce that its dental subsidiary, IDMoS Dental Systems Limited ("IDMoS" or the "Company"), has entered into a Collaboration and Commercialisation Agreement (the "Agreement") with Dentsply International Inc. ("Dentsply"), one of the world's leading manufacturers of products for the dental market, with operations in 120 countries. Dentsply is listed on the NASDAQ stock market (NASDAQ-XRAY) and has a market capitalisation in excess of $4 billion. The Company believes that this agreement provides the critical distribution route to the market for its dental products and validates its dental product propositions. As part of the collaboration IDMoS has the responsibility for developing products for the detection and monitoring of dental decay based on its proprietary technology, and Dentsply will take the lead on marketing, sales and promotion, including a joint clinical education plan with IDMoS, as well as implementing regulatory strategies. The IDMoS technology has the potential to identify dental decay, including the early reversible stages, more accurately and with greater certainty than current alternative techniques. IDMoS is currently commercialising the 2D application of the CMS System applying its ACIST technology, which is on schedule to be commercially available in 2006. This system comprises a base unit with integral analysis software and consumable sensors. Under the Agreement, Dentsply has exclusive global rights to promote, market and sell current and future IDMoS dental products based on IDMoS ACIST technology. Dentsply is also expected to participate in the development of products based on the Company's 3D technical platform, including the 3D CMS System, to accelerate the future commercialisation of such products. It is intended that the products will be branded by Dentsply with IDMoS co-branding as "powered by IDMoS" technology. Dentsply has also committed to make financial contributions in excess of $1 million, consisting of initial payments and milestone payments expected within the next 12 months, to support ongoing product development and marketing activities. Dentsply has also committed substantial resources towards the regulatory approval process and market launch of the products. Under the agreement IDMoS will sell its products to Dentsply, and Dentsply will then sell to the market through distribution networks. For the initial products IDMoS has agreed the selling prices to Dentsply and for future products a general pricing structure has been agreed. The operation of the Agreement will be referenced to the attainment of key performance criteria, which will be in the form of minimum numbers of installed units. If these criteria are not achieved, the exclusivity arrangements can be terminated by either party. Dentsply designs, develops, manufactures and markets a broad range of products for the dental market. It distributes its dental products under some of the most well established brand names in the industry. In the year ended 31 December 2004, it reported revenues of approximately $1.7 billion and earnings before tax of $274 million. Stephen Westwood, CEO of IDMoS commented "This is a very significant step forward in the development of IDMoS and we are delighted to be working with Dentsply on a long term partnership basis. We believe that its presence and expertise in the global market through its established clinical education structure and worldwide marketing and sales organisation, complement our capabilities in technology development and reputation in the dental cariology market, and that this Agreement offers us the best way to ensure that our CMS System becomes globally adopted, in a market with an increasing emphasis on prevention rather than cure." Gary Kunkle, Chairman and CEO of Dentsply commented "We are delighted to have entered into this important partnership with IDMoS. We believe that the IDMoS technology provides substantial benefits towards the detection and monitoring of dental caries and is superior to existing technology in the market place. This innovation has the potential to significantly advance the use of technology in preventive dentistry and should provide a significant clinical advantage to dental practitioners and patients." ENDS For further information, please contact: IDMoS plc Stephen Westwood 01382 598440 Buchanan Communications Diane Stewart/Tim Anderson 020 7466 5000 Notes to Editors IDMoS plc The IDMoS business was formally established in 2001 and floated on AIM in November 2004, raising approximately #5m via a placing. The IDMoS CMS System was developed by two board members, Professor Nigel Pitts and Dr Chris Longbottom. It consists of a base station, software and disposable sensors and will have the ability to identify dental decay, including decay in the early, reversible stages. The Company believes that the system will provide a level of accuracy, which is otherwise unavailable from existing commercial techniques. In addition to satisfying an unmet clinical need, there is a global shift towards the preventive management of dental decay and IDMoS believe that it will be ideally positioned to take advantage of this change. This information is provided by RNS The company news service from the London Stock Exchange END AGRPKCKPKBKBFFB
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