TSX Venture: NID
CAMPBELLVILLE, ON, Sept. 25 /CNW/ - NIR Diagnostics Inc. (TSX Venture:
NID), an innovator in the development of handheld medical diagnostic devices,
today announced it has agreed, effective September 24, 2007, to act as
co-plaintiff with Shaklee Corporation in a patent infringement action against
Masimo Corporation of California. The suit, originally filed on July 24, 2007
in the United States District Court, Central District of California, alleges
infringement of U.S. Patent No. 6,651,015 and U.S. Patent No. 6,611,777.
The alleged infringed patents were licensed by NIR Diagnostics Inc. to
Shaklee Corporation under the Second Amended and Restated Exclusive License
Agreement of August 4, 2006 between the companies. Under the terms of the
license agreement, Shaklee holds the right to enforce the licensed patents
from infringement and is obligated to pay all costs and expenses incurred for
such action. The agreement also stipulates that Shaklee and NIR Diagnostics
share equally in any proceeds, net of expenses, from infringement litigation
related to the licensed patents.
About NIR Diagnostics
NIR Diagnostics is a leader in the development of near-infrared
spectroscopic medical diagnostics. The Company has an extensive portfolio of
optical, electronic and algorithm related patents in the field of in-vitro and
in-vivo blood analysis.
This press release contains information that is forward-looking
information within the meaning of applicable securities laws. In some cases,
forward-looking information can be identified by the use of terms such as
"may", "will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or the negative of these terms
or other similar expressions concerning matters that are not historical facts.
Particularly, statements about the planned development of diagnostic devices
and the sufficiency of funds available to finance ongoing operations are
Forward-looking information, by its nature necessarily involves risks and
uncertainties including, without limitation, the difficulty of predicting
regulatory approvals, market acceptance and demand for new products, the
protection of intellectual property connected with devices, the impact of
competitive products, and other similar or related risks and uncertainties.
Additional risks and uncertainties affecting the Company are discussed in the
Risks and Uncertainties section of the MD&A for the year ended December 31,
2006 available on SEDAR at www.sedar.com. If any of these risks or
uncertainties were to materialize or if the factors and assumptions underlying
the forward-looking information were to prove incorrect, actual results could
vary materially from those that are expressed or implied by the
forward-looking information contained herein. The Company disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information: Duncan MacIntyre, President, CEO and Executive
Vice Chairman, NIR Diagnostics Inc., (905) 854-5727, (905) 854-5729 Fax,
E-mail: email@example.com, Internet: www.nirdiagnostics.com; Ross
Marshall, Investor Relations, (416) 815-0700 ext. 238, (416) 815-0080 Fax,
E-mail: firstname.lastname@example.org, Internet: www.equicomgroup.com