TCPI Concludes Limited Clinical Study For Its Noninvasive TD Glucose Monitoring System and Terminates Project.Business Editors POMPANO BEACH, Fla.--(BUSINESS WIRE)--May 15, 2001 TCPI TCPI To Complete Performance Index TCPI Toiletries and Cosmetics Purchasing Index , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TCPI), a worldwide marketer of point-of-care medical diagnostic products and skin permeation enhancers, announced today that it has terminated its noninvasive TD Glucose(TM) Monitoring System development project following the completion of a limited clinical study conducted at the Washington University School of Medicine Washington University School of Medicine, located in St. Louis, Missouri, is one of the most competitive and highly regarded medical schools and biomedical research institutes in the United States. in St. Louis, Missouri. This limited clinical study was designed to investigate improvements that had been made to the TD Glucose Meter in an effort to achieve greater precision. The Company previously suspended clinical trials for its noninvasive glucose monitoring technology in 2000 to focus development efforts on refining various electronic, optical and software components of the TD Glucose Meter, which is used to measure the color produced on the membrane in the noninvasive patch in response to the level of glucose present. "Our development efforts and the clinical study both indicated that the TD Glucose Meter produced better results than those previously obtained. Nevertheless, the combination of the meter and membrane patch comprising the System produced results that require further improvements," said Elliott Block, Ph.D., President of TCPI, Inc. "TCPI does not have sufficient financial resources to continue development of this project. Thus, further activity would be conducted only when sufficient funding is available," continued Dr. Block. About the TD Glucose Monitoring glucose monitoring Lab medicine The periodic evaluation of any analyte abnormal in Pts with DM, to assess short and long-term control with antiglycemic agents. See Glucose, Glycated hemoglobin. System The TD Glucose Monitoring System is intended to be a painless, bloodless and easy-to-use method for diabetics to monitor their glucose levels without the discomfort and inconvenience associated with fingerstick blood glucose monitoring blood glucose monitoring Sugar monitoring Lab medicine The periodic testing of serum glucose in Pts known to have DM. See Bedside glucose monitoring, Beta cell implants, Diabetes, Glucometer, Glycosylated hemoglobin, Non-Invasive glucose monitoring. systems. This system incorporates a small skin patch skin patch, transdermal patch, or transdermal delivery system, adhesive patch used to deliver a controlled dose of a drug through the skin over a period of time. and electronic meter to monitor glucose levels. After the patch has been placed on the forearm for five minutes, a small electronic meter is held up to the patch and produces a glucose reading. The single-use patch is then removed and disposed. The TD Glucose Monitoring System combines proprietary, patent-pending transdermal technology with membrane-based diagnostic technology. The alliance of these technologies permits glucose to be transported into the patch where it causes a chemical reaction and color change in the membrane. Special optics in the electronic meter are used to detect the color change and provide a glucose reading. About TCPI TCPI, Inc. markets point-of-care medical diagnostic products for use at home, in physician offices, and other healthcare locations and distributes them worldwide through multiple channels under its own HealthCheck(R) brand as well as OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and (original equipment manufacture) and private label programs. The Company also markets its patented SR-38(TM) skin permeation enhancer and owns a patent-protected, proprietary portfolio of transdermal and dermal dermal /der·mal/ (der´mal) pertaining to the dermis or to the skin. der·mal or der·mic adj. Of or relating to the skin or dermis. drug delivery technologies. TCPI presently holds 26 U.S. and foreign patents, and has 61 domestic and foreign patent applications pending. TCPI's key diagnostic products on the market and in development include over-the-counter and professional use pregnancy and ovulation ovulation /ovu·la·tion/ (ov?u-la´shun) the discharge of a secondary oocyte from a graafian follicle.ov´ulatory o·vu·la·tion n. The discharge of an ovum from the ovary. detection products in multiple formats; HealthCheck Total and HDL Cholesterol HDL cholesterol n. See high-density lipoprotein. HDL Cholesterol About one-third or one-fourth of all cholesterol is high-density lipoprotein cholesterol. Home Screening Tests; TriMeter trim·e·ter n. 1. A line of verse consisting of three metrical feet. 2. A line of verse consisting of three measures of two feet each, especially one in iambic, trochaic, or anapestic meter in classical prosody. (TM) system for professional monitoring of total cholesterol, HDL cholesterol and blood glucose blood glucose Diabetology The principal sugar produced by the body from food–especially carbohydrates, but also from proteins and fats; glucose is the body's major source of energy, is transported to cells via the circulation and used by cells in the presence from a fingerstick; MicroGlucose(TM) monitoring system for diabetics; and drug-of-abuse screening tests available in multiple formats. Copies of this and other news releases may be obtained free of charge at TCPI's Website at www.tcpi.net. Forward Looking Statements Information in this press release, including any information incorporated by reference herein, includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the safe-harbor created by such sections. The Company's actual results may differ significantly from the results discussed in such forward-looking statements. Statements regarding funding of projects, liquidity, capital resources, development of future products, future prospects, business plans and strategies, future acceptance of the Company's products, as well as other statements contained in this report that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, and similar statements are forward-looking statements. These statements are based upon assumptions and analyses made by the Company in light of current conditions, future developments and other factors the Company believes are appropriate in the circumstances, or information obtained from third parties and are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results might differ materially from those suggested or projected in the forward-looking statements. Factors that may cause actual future events to differ significantly from those predicted or assumed include, but are not limited to: the Company's limited cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. ; the Company's continued incurring of losses; the Company's negative cash flow; the Company's ability to sell or license all or some of its assets in order to immediately address its liquidity concerns and to immediately fund its operations, and, if unsuccessful in addressing such concerns, having to seek protection under the federal bankruptcy act; the satisfactory conduct and completion of clinical trials demonstrating efficacy of the Company's products including Total Cholesterol Home Screening Test and MicroGlucose(TM) systems; delays in product development; the ability to obtain regulatory approval, including FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval, for products in development; risks associated with the Company's ability to successfully develop and market new products on a profitable basis or at all; receipt of any required regulatory approvals for manufacturing facilities; risks related to the early stage of the Company's existence and its product development, as well as other risks listed in the Company's other press releases and in its other filings with the Securities and Exchange Commission. The Company may determine to discontinue or delay the development of any or all of its products under development at any time. For a complete description of the Company's business, products and liquidity, see the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2001. |
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