Stock symbol: TSX: TOS
Outstanding shares: 47,863,402
QUEBEC CITY, Dec. 8 /CNW Telbec/ - TSO3 Inc. ("TSO3") (TSX: TOS), an innovator in low temperature sterilization technology for medical devices in healthcare settings through the use of ozone, today announced that it has filed with Health Canada, a medical device amendment for the addition of the STERIZONE(R) 125L+ Sterilizer to the list of already cleared product for sale in Canada. The amendment will allow the introduction of new cycles, all offering increased speed and compatibility. The sterilizer, with the addition of these new cycles, represents a significant advancement in low temperature sterilization technology used in healthcare facilities.
"Today we are filing an amendment with Health Canada for the addition of new sterilization cycles that are consistent with our vision of creating the improved standard in healthcare sterilization. We are doing so in line with our previously committed to and communicated timeline", stated R.M. (Ric) Rumble, President and CEO of TSO3.
The new STERIZONE(R) 125L+ Sterilizer offers three cycles in a single sterilizer and is able to meet healthcare sterilization demands that previously required two or more sterilization systems. This low temperature sterilization system offers speed, high throughput, increased instrument compatibility, and cost effective sterilization, while engineered to be customer safe and eco-friendly. The new cycles accommodate general surgical instruments, short as well as long rigid and flexible endoscopes including complex multi-channel devices.
"This improved standard comes at a time when customers are seeking solutions for their low temperature sterilization requirements", continued Mr. Rumble. "We expect to be able to ship sterilizers with the new cycles to Canadian hospitals by the end of first quarter 2010. Given the lead times involved with such capital purchases, we are immediately initiating targeted sales efforts within Canada. In addition, we are finalizing the documentation packages supporting these new cycles for export and expect that we will be ready to file in these markets by year's end", concluded Mr. Rumble.
Earlier in 2009, TSO3 outlined its plans to; increase the utility of its sterilizer though the creation of new cycles; develop relationships leading to a channel partner and increase market opportunities via expansion outside of North America. In line with these targets and in addition to today's announcement concerning the filing of new cycles with Health Canada, TSO3 has announced on September 2, 2009, that it had entered into an exclusive negotiation period with 3M, for the distribution of the STERIZONE(R) 125L+ Sterilizer including these new cycles through 3M's Global Infection Prevention operation. TSO3 also recently announced it had received US regulatory clearance to include packaged multi-channel flexible scopes to the indications for use of its STERIZONE(R) 125L Sterilizer.
TSO3, founded in Québec City in 1998, specializes in the research and development of innovative, high-performance medical instrument sterilization technology with high commercial potential. The Company's first product, the TSO3 STERIZONE(R) 125L Sterilizer, is designed for sterile processing centers in the hospital environment. The Company believes that its technology represents an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals.
In contrast to other methods, the ozone sterilization process developed and patented by TSO3 combines attributes that answer market needs for: efficacy, costs savings, increased safety for patients and hospital staff, and a "green" environmentally safe process.
The TSO3 STERIZONE(R) 125L Sterilizer is cleared for commercialization by the US and Canadian regulatory agencies for sterilization of metal and heat sensitive instruments, as well as for devices with diffusion-restricted spaces, such as rigid endoscopes having a single stainless steel channel. In 2009, the Company received clearance from Health Canada and the US Food and Drug Administrations for sterilization of additional complex medical devices, including multi-channel flexible endoscopes.
For more information about TSO3, visit the Company's Web site at www.tso3.com.
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties.
The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it.
SOURCE TSO3 Inc.
For further information: For further information: Caroline Côté, Director, Corporate Communications and IR, (418) 651-0003, Ext. 237, firstname.lastname@example.org; Source: TSO3 Inc.