Time Finance Regulatory News (TIME)

18 Sep 2006 08:46

Timestrip PLC18 September 2006 TIMESTRIP PLC ("Timestrip" or the "Company") Technology Breakthrough Timestrip develops new label technology for vaccines Timestrip Plc, which develops and markets unique label technologies, is delighted to announce that it has developed a label that is capable of recordingwhether temperature sensitive products have been accidentally frozen during transport or storage. The iStripTM is a patent pending label which undergoes an irreversible colour change when exposed to freezing temperatures. Developed in response to demand from the pharmaceutical industry, iStripTM is designed to be mass-produced at low cost and to be fully integrated into the packaging of products such as vaccines, protein based pharmaceuticals, foodstuffs and fertilizer. Accidental freezing of Diptheria, Tetanus, Pertussis and Hepatitis B vaccines, and combination vaccines, can compromise their immunological potency. Recent studies in the UK, USA, Canada, Pakistan, Malaysia, Hungary, Mongolia and other countries have found widespread freezing at many levels of the vaccine distribution system. The high incidence of this problem and the resulting health risks have made the monitoring and elimination of accidental freezing a priority for organizations such as WHO, UNICEF and PATH (Program for AppropriateTechnology in Health). Paul Freedman, Joint CEO of Timestrip Plc, commented: "Current indicators cost up to $3.50 per item and can only be used at case or pallet level - iStripTM will be marketed at a fraction of this cost, making it acost effective option at an individual product level. We believe that the cost-benefit attractions of the technology make it a potential candidate for adoption as a stipulated feature on vaccines. We are currently in discussions with manufacturers, distributors and global health organizations and are targeting initial revenues towards the end of 2007." Enquiries: Paul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700Shane Dolan, Biddicks 020 7448 1000Fergus Marcroft, Evolution Securities 020 7071 4300 This information is provided by RNS The company news service from the London Stock Exchange