Mobile health technology market projected to reach $8 billion by 2018
CAESAREA, Israel September 9, 2015 /PRNewswire/ — LabStyle Innovations Corp. (OTCQB: DRIO), today announced it has been granted a patent from the U.S. Patent and Trademark Office for U.S. Patent No. 9,125,549 on September 8, 2015. The patent ti-tled, “Fluids Testing Apparatus and Methods of Use” broadens and builds upon the IP rights previously granted to Dario in the U.S. through a patent issued in 2014 that addresses how the Dario™ blood glucose monitor draws power from and transmits data to a smart phone via the audio jack port. The new patent broadens these claims to include testing of other bodily fluids through an audio jack connection.
“This is a very important patent that expands our IP rights in the U.S. beyond the market for glucose monitoring for diabetes to the diagnostics and management for a broad range of health related conditions including other chronic diseases,” stated LabStyle President and Chief Executive Officer Erez Raphael. “Through our proprietary technology, we can test bodily fluids including blood, urea and saliva to measure not just glucose but other health indicators as well, all through audio jack connections on smart phones and other digital devices.”
The patent comes at an important time, as the Dario has been submitted for marketing clearance to the U.S. Food and Drug Administration through a form 510K. LabStyle antici-pates a response from the FDA in the coming months.
According to market research firm Global Data, the use of mobile technology in managing chronic conditions will grow to $8 billion by 2018.
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB:DRIO) develops and commercializes patented technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle’s flagship product is the Dario™ Diabetes Management Solution. Dario™ empowers people with diabetes to take charge of their health with the right tools, insights, and support in their pocket. With access to both real-time and historical blood glucose data, Dario™ is designed to spot patterns, recommend the right treatments and support behavior change efforts.
Dario™ is a platform that combines an all-in-one, blood glucose meter, smart phone application (iOS & Android), website application and treatment tools to support more proactive and better informed decisions by patients, doctors and healthcare systems. The stylish and compact self-monitoring system combines a lancet to obtain a blood sample, a proprietary disposable test strip cartridge and a smartphone-driven glucose meter. LabStyle Innovations is led by an experienced management team with vast software, medical device and technology experience and is guided by a world class board of directors and scientific advisory board. For more information: www.myDario.com and http://myDario.investorroom.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the “Company”) related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “plan,” “pro-ject,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” are intended to identify forward-looking statements. For example, we are using forward-looking statements in this press release when we discuss the importance of our patent titled “Fluids Testing Apparatus and Methods of Use, the use of mobile technology in managing chronic conditions, the description of the size of the mobile technology market, and the anticipated FDA clearance. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company’s results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product develop-ment, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company’s actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company’s commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any for-ward-looking statements, whether as a result of new information, future events or other-wise, except as required by applicable law.
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