New investment for IVMD to develop labour prediction and blood glucose devices

4 April 2005. Inverness, Scotland.  IVMD, Inc. (OTCBB:IVVO), a developer of leading edge non-invasive medical diagnostic tests and products, announced that it has received second phase funding from Inverness and Nairn Enterprise (INE), a UK government agency.

The company previously announced a similar investment in the company by INE in December of 2004. This funding represents an ongoing commitment by INE to IVMD’s business success.

John Fuller, President and CEO said, “This latest round of approvals is a great endorsement of our progress, both technological and commercial. INE has been very diligent in its review of our business to ensure we have met the required milestones”.

The payments from INE have been triggered by IVMD’s development of labour prediction technology in pregnancy, and research work into non-invasive measurement of blood glucose for the treatment of diabetes.

The payments from INE, ranging between 32 and 50% of the project budgets, represent part of INE’s long-term commitment to support the growing business of IVMD.

Ian Fraser, Head of Business Development at INE said, “We have been
impressed by IVMD’s progress. We have commissioned external scientific analysis of their projects and can confirm that we are delighted with the progress made”.

IVMD, Inc. consists of the former Hall Effect Technologies, Ltd., which is now IVMD (UK) Ltd. and Jopejo Ltd. IVMD is in the final stage of developing its first groundbreaking medical device for the cardio-vascular market.

Other medical conditions being addressed by IVMD’s patented technology include the diabetes market and those conditions where imaging is essential.

The company’s technology is based on the Hall Effect and although it has been known since 1879 when E. H. Hall discovered it, it is only through recent developments in semi-conductor technology and computing power that scientists have been able to analyze the magnetic properties of bone and tissue, thereby enabling the Hall Effect to be considered in medical uses.


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