Quebec City, May 19, 2011 – TSO3 Inc. (“TSO3”) (TSX: TOS), an innovator in sterilization technology for medical devices in healthcare settings is pleased to announce that the company and 3M™ Infection Prevention Division have amended their December 2009 Global Agreement to include a second product, which is currently in development and destined for use in the operating room (OR). In addition, the companies have agreed to explore the industrial and scientific markets to determine commercial opportunities for the current product (3M™ Optreoz 125-Z).
“We are pleased that 3M™ has selected to expand their portfolio of products based on the TSO3 technology,” commented R.M. (Ric) Rumble, TSO3’s President and CEO. “The sterilizer in development is designed to be a true solution to the reprocessing needs of the OR and with this agreement, it will be supported by a globally experienced and professional sales team,” Mr. Rumble added. “The amendment to the contract also allows 3M™ and TSO3 to explore opportunities in the industrial and scientific market segments.”
TSO3 has previously disclosed only limited details on the small, “purpose-built”, sterilizer currently in development and targeted at the OR market. This product will enable terminal sterilization of packaged complex medical devices such as powered instruments, imaging accessories, as well as complex and expensive rigid and flexible endoscopes currently sterilized in OR sub-sterile reprocessing areas of acute care facilities.
While visiting the TSO3 headquarters in Québec City and touring the plant, Debra A. Rectenwald, President and General Manager of the 3M™ Infection Prevention Division commented: “We are pleased to further our work with TSO3 in the OR through the amendment to our original agreement. 3M™ and TSO3 have collaborated closely in preparing to launch the 3M™ Optreoz™ 125-Z in markets where regulatory clearances have been obtained. Together, we plan to leverage our mutual expertise and knowledge in the critical OR space through this agreement.”
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. TSO3 designs products for sterile processing areas in the hospital environment and offers an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals.
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.
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