DECN SCORES AUGMENTED DISTRIBUTUON AGREEMENT COVERING 11 COUNTRY RUSSIAN FEDERATION, SETS FEBRUARY 17, 2020 AS BEGINNING OF WORLDWIDE IMPLEMENTATION OF ITS GENACCORD! SYSTEMS, ACCEPTS COMPLETED, FULLY TESTED METER FOR ITS GENULTIMATE! TBG
LOS ANGELES, CA / ACCESSWIRE / February 4, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) is an 18-year old, diabetes-focused bio-technology development firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! (“Sunshine”) diabetes test strip, its GenAccord! systems for the uninsured and under-insured, its GenChoice! (“Ladybug”) test strip now in the later stages of FDA 510(k) prosecution, and its GenUltimate! Sure and GenUltimate Precis products manufactured for International markets. The company also markets its PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system as well as the GenUltimate! 4Pets Test strip and Avantage! meter. The company now has also accepted the completed design and the plan for large scale manufacturing capability for its GenUltimate! TBG (“Dragonfly”) diabetes testing system including the ground-breaking TBG Precise meter, the focus of a breakout licensing agreement, and the subject of an upcoming release.
Today DECN announces that a final agreement with its Moscow based Russian Federation Distributor has now reached the final phase, the memorialization of the multi-language translation of the exclusive distribution agreement and its apostille. An initial run of two lots of the GenUltimate! Precis product has been requested. The company plans deliverable lot sizes of approximately 5,500 vials of 50. GenUltimate! Precis will be boxed in international packaging.
Keith Berman, CEO of DECN commented, “This is a major event for DECN. We have worked long and hard to provide the best product we can to our Russian partners. But we do not stop here. We plan to enhance the GenUltimate! Precis, the charter product for the Russian Federation, with our TBG technology, so that the enhanced test strip will continue to run on OneTouch Select Plus legacy glucometers, as well as offering a path ahead for Russian Federation diabetics to market changing enhancement based on our GenUltimate! Precise meters.”
The company also announced that the FDA 510(k) cleared and EU CE marked GenAccord! Enhance and its Enhance meter will be launched on February 17, 2020, about a month ahead of schedule. GenAccord! Enhance will be sold in the U.S. and Puerto Rico as well as post-Brexit United Kingdom and what are called the sovereign Amazon commercial sites in the countries of Canada, Germany, France, Italy, the Netherlands, Spain, Mexico and India. GenAccord! Enhance will also be sold in the Russian Federation through our distributor. Actions are now in process to add GenAccord Enhance to our agreement with our Russian Federation distributor. On-line sales in the Russian Federation will occur through AliExpress.
Mr. Berman continued, “We are also pleased to announce that we have accepted the commercial version of the GenUltimate! TBG Precise meter. Under most circumstances this event would make for its own news release. However, while drafting this release we had a most interesting and happy occurrence. Pharma Tech has concluded two new partnerships that will provide further growth for our line of human and pet diabetic testing products. The first arrangement is with a national marketer of both pet and human products at both retail locations and on the web. The second is a national retailer with over 2000 locations in the U.S., Canada and Mexico. We will have product in both retail stores and on the retailer’s popular web sites. These programs both will encompass 4-5 of our products, and will be sold under several brand names, including the name and brands of the large retailer.
Mr. Berman concluded, “We anticipate additional updates, in particular about our upcoming licensing agreement, in the coming days. This agreement awaited only the completion of the Precise meter.”
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN’s products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $15+ billion at-home testing market. The company’s GenUltimate! TBG product is not yet available for sale in the United States or Puerto Rico but is expected to go on sale in select International markets 1Q 2020. The meter, the medical device that makes GenUltimate! TBG great, was just completed.
This release contains the company’s forward-looking statements which are based on management’s current expectations and assumptions as of February 3, 2020 regarding the company’s business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
Decision Diagnostics Corp.
Keith Berman (805) 446-2973
SOURCE: Decision Diagnostics Corp.
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