Andain Inc. Announces 2,000 Units Initial Production of the Breakthrough Miniature Disposable Insulin Pump for Use in Clinical Trials for Type-I and Type-II Diabetes
BEVERLY HILLS, California, June 10, 2013 /PRNewswire/ –
Andain Inc [http://www.andaininc.com ]. (OTCBB: ANDN) (“Andain”), a company engaged in
commercializing novel technologies in the fields of biotech, medical and life sciences
through its accelerating incubator program, announced today the production of 2,000
miniature disposable insulin pump units for clinical trials.
The diabetes management products market, including insulin injection devices and
insulin pumps, insulin therapies and oral and injectable diabetes drugs-have become one of
the largest medical device markets in the U.S. totaling more than $20 billion in 2008. The
insulin pump market is sizeable and rapidly growing. Global markets sales are estimated to
be over $1 billion annually with a 12% compound annual growth rate.
Andain’s technological industrial accelerating incubator, has assembled 2,000 units of
its miniature disposable insulin pump for type-I and type-II diabetes to be used in
forthcoming clinical trials.
Although the planned clinical trials are not required for FDA approval, Andain is
about to conduct a comprehensive clinical trial intended for type-II diabetes, aiming to
show significant clinical and ease-of-use advantages utilizing the company’s miniature
disposable pump, intended to replace the common pen injector with similar cost to the
patient or medical insurer.
Andain’s miniature disposable insulin pump is an ultra slim, low profile, small
‘Band-Aid’ patch size, fully disposable, fully programmable, water-proof, low cost insulin
pump. Along with the plug-in universal remote-control (PUR) unit capable of interfacing
with any smartphone, hand-held, laptop, or desk-top computer, it provides one of the
safest, most comfortable and yet affordable clinically superior solution for the type-II
“Our current initial production line, enables us to continue developing and
assimilating methodologies to be used on a large scale production base, and further reduce
production costs” said Andain President & CEO Sam Elimelech.
Andain Inc., established in 2004 as a Nevada corporation with locations in Israel and
the US, commercializes novel technologies in the biotech and medical fields, specializing
in identifying technical innovations and providing a unique incubator/accelerator
development and industrial platform. The company also offers technical know-how and
business strategy expertise to commercialize new technologies and deliver shareholder
Certain statements in this news release may contain forward-looking information within
the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor created by those
rules. All statements, other than statements of fact, included in this release, including,
without limitation, statements regarding potential future plans and objectives of the
company, are forward-looking statements that involve risks and uncertainties. There can be
no assurance that such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements. Technical
complications that may arise could prevent the prompt implementation of any strategically
significant plan(s) outlined above. The company cautions that these forward-looking
statements are further qualified by other factors including, but not limited to, those set
forth in the company’s Form 10-K filing and other filings with the U S. Securities and
Exchange Commission (available at http://www.sec.gov/
). The company undertakes no obligation to publicly update or revise any statements in
this release, whether as a result of new information, future events, or otherwise.
Contacts: Sam Elimelech, President & CEO Andain Inc. +972-52-6722212 firstname.lastname@example.org Investor Communications Services +1(305)414-5071 email@example.com
SOURCE Andain Inc