LabStyle Innovations Receives U.S. Notice Of Allowance For Key Patent Relating To The Dario™ Blood Glucose Monitoring Device
Critical intellectual property recognition is a major step in bringing Dario™ to market in the U.S.
Caesarea, Israel /PRNewswire/ - LabStyle Innovations Corp. (OTCQB: DRIO), developer of the Dario™ Diabetes Management Solution, today announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for core patent claims covering the company's personalized blood glucose monitoring device.
LabStyle's now patent pending invention, entitled "FLUID TESTING APPARATUS AND METHODS OF USE", specifically relates to how the Dario™ blood glucose monitor draws power from and transmits data to a smart phone via the audio jack port. This device is designed to work in tandem with LabStyle's novel and powerful Dario™ software application to form the overall Dario™ Diabetes Management Solution.
The issuance of the Notice of Allowance is the critical milestone that will allow LabStyle to obtain formal U.S. patent protection in the coming months for this invention while LabStyle continues to seek similar patent protection in non-U.S. jurisdictions. LabStyle also believes that the claims of this invention could potentially be expanded to cover the measurement of parameters to help manage additional chronic diseases.
Erez Raphael, LabStyle's President and Chief Executive Officer, stated "This is a major milestone for our company and an important recognition of the truly novel nature of our Dario product offering. Dario is the world's first personalized smart meter and is already changing the way people manage their diabetes in our initial launch jurisdictions. This patent allowance validates our efforts in developing cutting edge products that help people manage their diabetes and thrive. Further, this patent will greatly strengthen our competitive position in the U.S. assuming FDA approval of Dario. Importantly, the allowed claims underscore our ownership of this technology and cover our methodology that has been based upon our extensive database of reference feedback, close customer collaboration, and innovative product engineering and development. We're extremely proud to have achieved this distinction."
In September 2013, LabStyle received CE mark certification for the Dario™ personalized smart meter (Dario™ Blood Glucose Monitoring System) and began a world rollout in select countries. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for Dario™ in December 2013 and is expecting a response from FDA later this year.
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB:DRIO) develops and commercializes patent-pending technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is Dario™, a mobile, cloud-based, diabetes management solution which includes novel software applications combined with a stylish, 'all-in-one', pocket-sized, blood glucose monitoring device. Dario™ received CE mark certification in September 2013 and began a world rollout in select countries in December 2013. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for the Dario™ smart meter (Dario™ Blood Glucose Monitoring System) in December 2013. LabStyle is pursuing patent applications in multiple areas covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services. For more information: www.mydario.com and http://mydario.investorroom.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the "Company") related thereto contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers and call participants are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the actual benefits to the Company of the patent described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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