TSO3 and 3M Agree to Global Channel Partnership - 3M to Begin Rollout in Sequential Markets as Regulatory Clearances are Received
By Tso3 Inc. And 3m, PRNETuesday, December 15, 2009
QUEBEC CITY, December 16 - TSO3 Inc. ("TSO3") (TSX: TOS) and 3M (MMM) today announced that an
agreement has been reached for 3M to be the exclusive supplier and
distributor of TSO3's STERIZONE(R) 125L+ Sterilizer. The partnership with
TSO3, an innovator in low temperature sterilization technology for medical
devices in healthcare settings through the use of ozone, will include new
cycles to reach acute care facilities through 3M's global sales channel.
This agreement, combined with recent improvements to the sterilizer
performance in both cycle time and device compatibility, represents a
significant step in the move to accelerate the product's adoption in the
global marketplace.
"Our enhanced product offering, having three significantly faster and
gentler cycles, makes the STERIZONE(R) Sterilization System an excellent
alternative to shortcomings found in existing low temperature sterilization
products. Our ability to sterilize a wide range of general surgical
instruments, rigid channelled devices as well as simple and complex flexible
endoscopes makes us unique and a single solution to what has historically
required two or more sterilization technologies", Stated R.M. (Ric) Rumble,
President and CEO of TSO3. "The agreement signed today with 3M pairs
innovation in technology with innovation in marketing, sales and service on a
global scale. It supports 3M's existing Infection Prevention business
strategy, while significantly enhancing market penetration of the TSO3
technology. It is an excellent fit for our respective organizations and more
importantly our mutual customers", Mr. Rumble continued.
While the details of the agreement are not being released, provisions
include an exclusive license fee of which a portion is to be paid upfront,
with milestone payments to be made linked to regulatory clearances, and,
minimum purchases defined on an annual basis.
"We are very pleased to be able to offer this innovative technology to
acute care settings for low temperature sterilization," stated Debra A.
Rectenwald, Vice President and General Manager of the 3M Infection Prevention
Division. "This technology is aligned with our 3M Infection Prevention goals
to partner with hospitals to reduce hospital-acquired infections (HAIs) and
to meet the needs of our customers and the patients they serve. The new
agreement with TSO3 includes regional commercialization of the products as
regulatory clearance or registration is obtained and we are enthusiastic to
be able to offer this unique technology globally".
About 3M Infection Prevention Division
The 3M Infection Prevention Division offers healthcare professionals
leadership solutions to minimize the risks of healthcare-associated
infections. Combining science and technology, 3M Infection Prevention is built
upon more than 40 distinct technology platforms and a comprehensive portfolio
of quality products that help the healthcare industry define and address
current infection prevention best practices. 3M Infection Prevention remains a
trusted partner committed to helping customers lead the way in detecting,
preventing and controlling the risk of infection.
For more information, visit www.3M.com/infectionprevention.
About 3M
A recognized leader in research and development, 3M produces thousands of
innovative products for dozens of diverse markets. 3M's core strength is
applying its more than 40 distinct technology platforms - often in combination
- to a wide array of customer needs. With US $24 billion in sales, 3M employs
75,000 people worldwide and has operations in more than 60 countries. For more
information, visit www.3M.com.
About TSO3
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 United States
regulatory agency 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.
For further information: Caroline Côté, TSO3, +1-418-651-0003, ext. 237,
ccote@tso3.com; Mary Clemens, 3M, +1-651-733-8806, mcclemens@mmm.com
For further information: Caroline Côté, TSO3, +1-418-651-0003, ext. 237, ccote at tso3.com; Mary Clemens, 3M, +1-651-733-8806, mcclemens at mmm.com
Tags: canada, Quebec City, Tso3 Inc. And 3m