AGOURA HILLS, Calif.,
June 14, 2013 /PRNewswire/ -- Biozoom
(OTC QB: BIZM) exercised its option, under a joint venture
agreement, to acquire 19.9% of Opsolution, a research and
development company dedicated to advancing spectroscopic
technology. Pursuant to the joint venture between the two
companies, Opsolution assigned to Biozoom all of its rights to
Opsolution's future intellectual property, whether developed or
acquired, including licenses and royalty rights. In exchange,
Biozoom agreed to fund Opsolution's ongoing research and
development activities by matching certain grant funds awarded to
Opsolution by the German government. Under Biozoom's asset
purchase agreement with Opsolution, executed in parallel with the
joint venture, Biozoom acquired all of Opsolution's existing
tangible and non-tangible assets.
"Both companies can concentrate on what they do best," said
Hardy Hoheisel, CEO of Biozoom.
"Opsolution can focus on the R & D, while Biozoom aggressively
pursues large-scale sales opportunities and relationships with
distribution partners in the health and wellness industry."
The joint venture agreement gives Biozoom access to intellectual
property and patents as they are developed and acquired.
"Opsolution is conducting the research that we hope will enable our
next generation Biozoom scanner to measure common medical values,
including cholesterol and blood sugar levels. We believe this will
lead to wide adoption by the healthcare community when the new
scanner is perfected," said Hoheisel.
Opsolution developed the ground-breaking technology to
miniaturize laboratory-quality spectroscopy, enabling the creation
of Biozoom's mobile handheld device. This miniaturization was based
on collaboration with one of the world's leading optical
engineering companies, Carl Zeiss.
This optics technology is at the heart of the current scanner, the
world's first portable, handheld device for the non-invasive
transdermal analysis of biomarkers—including antioxidant levels.
The Biozoom scanner's accuracy has been validated by one of
Europe largest teaching hospitals,
where it is in regular clinical use.
Opsolution's work toward further reducing the size of the
optical scanner to nanoscopic scale has led to significant research
and development grant interest from the German government.
About Biozoom
Biozoom is an innovative technology development company,
specializing in the commercialization of our advances in mobile
spectroscopy. Our intellectual property portfolio and ongoing
research are positioned to apply Biozoom's technology breakthroughs
to a wide range of markets. Our first consumer product, the Biozoom
scanner, gives people the feedback they need to manage their
health, wellness and fitness on demand. Tested in
leading health institutions, our scanner is the first of its
kind—a handheld, transdermal device for measuring biomarkers,
including antioxidant levels, at the click of a button. Scan
results— and customized wellness coaching based on those
biomarkers— are sent instantly to a smartphone or online
account. The scanner will enable leaders in the health and
wellness industry to create new levels of customer loyalty and
revenues as a result. For more information, visit
www.biozoom.net.
Disclaimer
This press release contains "forward-looking statements".
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
and specifically references to future potential purchase orders and
re-orders from consumers and distributors. The reader can identify
these forward-looking statements by forward-looking words such as
"may," "will," "expect," "potential," "anticipate," "forecast,"
"believe," "estimate," "project," "plan," "continue" or similar
words. The reader should read statements that contain these words
carefully because they discuss future expectations, contain
projections of future results of operations or of financial
condition, or state other forward-looking information.
Forward-looking statements include, but are not limited to,
statements regarding potential products, customers, revenues,
expansion efforts, and future plans and objectives of Biozoom, Inc.
("Biozoom"). The risk factors listed in our disclosure documents
and the cautionary language therein provide examples of risks,
uncertainties and events that may cause actual results to differ
materially from the expectations and projections described by
Biozoom in its forward-looking statements. Actual results relating
to, among other things, product launch, sales, customer acceptance
and market share could differ materially from those currently
anticipated in such statements. Factors affecting forward-looking
statements include: consumer preferences, competition from more
established brands, ability to develop market share; changes in the
operating costs; changes in economic conditions, foreign exchange
and other financial markets; changes of the interest rates on
borrowings; changes in the investments levels; litigation;
legislation; environmental, judicial, regulatory, political and
competitive developments in areas in which Biozoom operates;
technological, mechanical and operational difficulties encountered
in connection with Biozoom's development activities; and labor
relation matters and costs. The reader should refer to the risk
disclosures set out in the periodic reports and other disclosure
documents filed by Biozoom from time to time with the Securities
and Exchange Commission and other regulatory authorities.
SOURCE Biozoom