WayPoint Biomedical to acquire Sober X USA

14/11/05 WayPoint Biomedical, Inc. and Santa Ana, CA-based Sober X USA have signed a Letter of Intent (LOI) to facilitate the acquisition of Sober X by WayPoint.

Sober X USA manufactures the world's only Hangover-Free Topical Patch™ (HFTP). The Sober X® HFTP unique (patent pending) formulation of natural ingredients combats the conditional and contributing factors known to cause the next morning hangovers. This highly innovative product was recently recognized as the "2005 NACDS Showcase Winner in Best of Healthcare/OTC."

Both WayPoint and Sober X plan to consummate the transaction within the next 45 days. As a condition of the LOI, in order to potentially recognize early revenues, WayPoint will immediately begin to market the Sober X HFTP product throughout their global retail OTC network. In the United States this network includes Euro American Marketing and Sales, who manage a well-recognized and established sales network of 14 different broker firms with a collective complement of over 60 individual sales personnel, located strategically throughout the US. Euro American's total drug, food and mass merchandise network includes 82 headquarter accounts and approximately 40,000 different outlets.

Sober X USA was founded to develop functional and nutraceutical products, including their flagship Sober X® Hangover Free Topical Patch. Developed to provide relief for those suffering from the next morning hangovers, the Sober X fast-acting products tout health and wellness benefits. The Sober X USA management team brings more than 25 years of healthy lifestyle experience, along with 40 years experience in the health and nutraceutical industry. Sober X provides a unique formula of Milk Thistle, Artichoke, Green Tea and Vitamin C, specifically designed to supply the body with a constant supply of high potency and natural antioxidants needed to prevent hangovers. The ultra-concentrated formula is infused into a small, discreet dermal patch, which sticks to the body. Like other patches, such as the Nicoderm Patch™ and diet patches, these products use advanced physiological technology to feed the formula into the user's bloodstream in a timely manner.

WayPoint Biomedical, Inc., a wholly owned subsidiary of WayPoint Biomedical Holdings, Inc., is an innovative biomedical technology firm, specializing in diagnostic tests and devices for screening and monitoring human health, fitness and environment. The Company develops and markets cutting-edge disposable rapid tests that offer both a preliminary diagnostic screen to specific conditions, along with a future path for consumers, medical providers, and first responders to follow regarding their health status or environmental condition. WayPoint's unique and affordable home-based and on-site tests are focused on detecting the cause of a disease or pathogen, as opposed to determining the symptom; becoming a part of the solution to help reverse the escalating cost of Healthcare. The Company's primary target sectors are the Over the Counter (OTC) Self-Testing Market, the Diagnostic Point of Care (POC) Testing Market, and the Homeland Security & Defense Market; three of the fastest growing areas in all of diagnostic medicine and science.

http://www.marketwire.com/mw/release_html_b1?release_id=100858