In Veritas files patent for new assay format with over-the-counter applications

By Lisa Kerner

Charlotte, N.C., Aug. 17 - In Veritas Medical Diagnostics Inc. (IVMD) said it has filed for patent protection for a low cost, unambiguous, yes/no assay format.

No specific filing details were disclosed.

The self-powered, sensitive immunoassay format is designed for mass market over-the-counter pregnancy and ovulation testing, as well as a screening tool for diseases such as HIV or substances such as drugs or alcohol.

"The development of the technique and filing of a new patent shows IVMD's commitment to building a strong portfolio of IP which can be commercially exploited to add shareholder value," said John Fuller, chief executive officer of operations, in a company news release.

"Throughout the development program IVMD worked closely with its marketing team to define the true market requirements, and the product has been targeted strongly at being competitive in the over- the-counter space. We are currently in discussions with a number of blue chip diagnostics companies to commercialize the product in various sectors."

The U.S. immunoassay market was worth $7 billion in 2002, the company said.

In Veritas, based in Inverness, Scotland, uses its patented core technology to design, develop and test medical devices for near patient testing and monitoring.

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