Re Agreement
15 Mars 2005 - 8:00AM
UK Regulatory
RNS Number:7308J
Wyatt Group PLC
15 March 2005
Wyatt Group plc
Further to the announcement by the Company on 26 January 2005, Wyatt Group plc
is pleased to confirm that, following the successful completion of the recent
cash placing which raised approximately #600,000, Wyatt has completed an option
to enter into an exclusive import licence with Fingerprint Biotech of
Washington, USA to import and market drug testing kits into the UK and the
Republic of Ireland for an initial period of 20 years.
The kits use technology invented by Raouf Guirguis, the owner of Fingerprint
Biotech, who has a track record of successful invention within the
pharmacological sector.
The drug testing kits require only minimal training for the operative and are
capable of identifying the presence of 5, 7 or 9 drugs and other illegal or
noxious substances and provide results within approximately two minutes.
The device also incorporates a feature for taking the fingerprint of the person
being tested, which creates a chain of custody record that meets the most
stringent approved standards and the complete result, including DNA, is capable
of being stored digitally.
The option has been granted by Fingerprint Biotech to a newly formed, wholly
owned subsidiary of Wyatt, Fingerprint Testing Limited and Home Office approval
for the import of the product into the UK has already been secured, together
with agreement in principle for the kits being used for a trial period by three
UK police forces.
Wyatt considers that the potential application for these kits extends to
workplace testing, by the military, education, sport and transport sectors.
The kits will be manufactured by Acon Inc., which is approved under the US Food
and Drugs Authority.
Commenting on the agreement, Bob Holt, Chairman of Wyatt said:
"We are very pleased to have secured such a significant and exclusive
opportunity for Wyatt in a market which has enormous potential and which, I
believe, will provide significant opportunities to improve the screening for
drug abuse.
The simplicity of operation and attractive pricing will differentiate this
product from other testing equipment currently available in the UK. In addition
it will eliminate chain of custody problems, which frequently arise in this
area, and provide a cost effective and user-friendly solution to an ever-growing
problem.
Wyatt is building a workplace and leisure related testing and risk management
business and this technology is complementary to Wyatt's existing Firesmart and
AMS operations."
Enquiries:
Bob Holt, Wyatt Group Plc 01453 511911
Barrie Newton, Rowan Dartington & Co. Limited 0117 933 0011
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRFGGMFVDRGKZM
Wyatt (LSE:WYT)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Wyatt (LSE:WYT)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about Wyatt Group (London Stock Exchange): 0 recent articles
Plus d'articles sur Wyatt Group Plc