One Millilitre Retractable Syringe
The Board of L.O.M. Medical International Inc. and L.O.M. Laboratories Inc. (collectively referred to as LOM) is pleased to announce it has identified a strong demand from the syringe market for a 1 mL retractable syringe. LOM has therefore completed a 1 mL prototype by incorporating its intellectual property technology into the design of the new syringe. The Company’s patent lawyers have filed a provisional patent application to protect the new 1 mL syringe.
Marketing of LOM’s Technology
In addition to its blood collection device and Power Pak, LOM now has a 3 mL and a 1 mL syringe that it is presenting to various medical technology companies with the assistance of Deloitte Corporate Finance Inc. The Board reports that it has been in various stages of discussion for some months with several large medical technology companies, and will continue to focus its efforts towards creating value for LOM’s shareholders.
Financing and LOM’s Rights Offering
Our goal when we commenced the financing was to raise a total of $2.0 million. We are pleased to report that we have successfully raised approximately $1.5 million and we continue to work on this financing until it is completed.
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