THERASENSE AND DELTEC INTRODUCE
ALL-IN-ONE MONITORING SYSTEM AND INSULIN PUMP
ALAMEDA, Calif., June 10, 2003 - TheraSense, Inc. (Nasdaq: THER), a leader in glucose monitoring and maker of the popular, virtually painless FreeStyle® Blood Glucose Monitoring System, and Deltec, a leading maker and marketer of insulin pumps including the Cozmo™ Insulin Pump, today announced the introduction of the CozMore ™ Insulin Technology System. The new all-in-one system combines Deltec's insulin pump and TheraSense's FreeStyle glucose monitoring technology to allow users to test their glucose and administer insulin with just one device.
The CozMore™ Insulin Technology System is the first all-in-one smart insulin pump and blood glucose monitoring system that helps people with diabetes take charge of their daily diabetes management. It gives users "real-time" glucose data and insulin delivery options in one place for quick and easy access.
"As a leader in blood glucose monitoring technology, we're constantly looking for ways to eliminate barriers to better diabetes management and improve the quality of life for people with diabetes," said Mark Lortz, President and CEO of TheraSense. "With the help of FreeStyle's Nano-sample™ technology and our advances in test accuracy, we believe the CozMore™ Insulin Technology System can significantly change the way that people manage their diabetes on a daily basis."
"The CozMore™ Insulin Technology System blends two state-of-the-art products - The Deltec Cozmo™ insulin pump, the premier choice among insulin pump users, and the FreeStyle® Blood Glucose Monitoring System, a virtually painless glucose testing alternative - to create a revolution in diabetes management," said Rod Kellogg, vice president and general manager, Deltec. "This merging of great products and the resulting innovative technology promises to lighten the cumbersome routine people with diabetes go through on a daily basis."
By combining premier insulin pump and blood glucose testing technology, Deltec and TheraSense have made diabetes management a more portable, hassle-free routine for more than 255,000 insulin pump users in the U.S.
How the CozMore™ System works: The CozMore™ System is both lightweight and easy to use. First, users lance their fingertip or a less painful, alternate testing site (the forearm, upper arm, thigh, calf or fleshy part of the hand) with a FreeStyle® Lancing Device. Next, they insert the FreeStyle® Test Strip into the CoZmonitor™ System, which is attached to the Deltec Cozmo™ Insulin Pump.
The CoZmonitor™ System automatically transfers the blood glucose information to the Deltec Cozmo™ Pump through an infrared port. If the user's blood glucose level is higher than normal, he or she can go directly to the bolus menu to correct it without having to manually re-enter the blood glucose value, ensuring more consistent insulin delivery.
In addition, blood glucose results are combined with insulin delivery data and stored in the Deltec Cozmo™ Insulin Pump's history log to provide a complete picture of the user's diabetes management, allowing them to be more proactive in their insulin decisions. The system's central data storage capabilities also allow users to go through fewer steps and therapy calculations - reducing the risk of data or transcription errors.
Because insulin pump therapy requires more frequent blood glucose testing, it's not unusual for a typical user to check his or her glucose levels six to eight times a day or more. The CozMore™ System's small, compact size makes it easier for pump users to carry everything necessary to manage their diabetes, eliminating the need for them to store and/or carry around multiple blood glucose meters. And by using virtually painless FreeStyle technology, the CozMoreTM System helps to reduce the pain associated with frequent testing.
Deltec has submitted a 510(k) application to the FDA for clearance, and the first CozMore™ System units are expected to be available after January 2004. ABOUT THERASENSE TheraSense develops, manufactures and sells easy to use glucose monitoring systems that dramatically reduce the pain of testing for people with diabetes. TheraSense began selling its first product, the FreeStyle® blood glucose monitoring system, in June 2000. The FreeStyle® system has wide distribution in the United States through national retailers including Walgreens, Wal-Mart, CVS, Eckerd and Rite Aid. The FreeStyle system is distributed in various European countries by Disetronic Injection Systems. In Japan, the FreeStyle system is distributed by Nipro Corporation, the Japanese market leader in dialysis and insulin pumps. The TheraSense headquarters and test strip manufacturing facility are located in Alameda, California. Visit us at www.therasense.com.
ABOUT DELTEC Deltec is a world leader in the design, manufacture and distribution of medical devices used in ambulatory infusion therapy, including ambulatory infusion pumps, large volume infusion pumps, implantable access systems, dialysis and infusion catheters, needles and insulin delivery systems. Headquartered in St. Paul, Minn., Deltec is part of the medical division of Smiths Group plc, London, and is committed to developing the highest quality, most reliable products to provide innovative, convenient and cost-effective drug delivery worldwide. For more information, visit the company's website at www.deltec.com.
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The foregoing contains statements regarding the commercial availability of a new product. These statements are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and actual results could differ materially. TheraSense undertakes no obligation to update or revise any forward-looking statement. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: risks related to noncompliance with FDA regulations; the company's limited manufacturing experience, dependence on single source suppliers and manufacturers; and risks related to the company's inability to continue to develop innovative products in the glucose monitoring market.
Investors should read the risk factors set forth in TheraSense's Form 10-Q for the quarter ended March 31, 2003 and periodic reports filed with the Securities and Exchange Commission. The risk factors are also available on the Investor Relations portion of TheraSense's website at www.therasense.com.
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Last Updated: Friday June 20, 2003 21:47:49
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