TOUMAZ | Strategic Investment | RNS
10 February 2011
Patrick Soon-Shiong to invest in Toumaz to develop Sensium for consumer healthcare applications
Toumaz Limited (AIM: TMZ, 'Toumaz', or 'the Group'), a pioneer in low cost, ultra low power wireless communications and broadcast technology, announces that California Capital Equity LLC (CCE), a company owned by Dr. Patrick Soon-Shiong, has made a strategic investment in the Group.
Toumaz is issuing 14,563,142 shares to CCE at 8.83p per share, representing a stake of 2.46% in the Group. Application will be made for the shares to be admitted to trading on 16 February 2011. Following admission, there will be 608,187,868 shares in issue.
CCE and Toumaz will collaborate to develop Toumaz's market leading wireless healthcare and wellness technology, the Sensium platform, for use in sports. Collaboration for other applications, including wireless healthcare, will also be assessed. The two companies will focus on chargeable multi-use devices for the North American market.
Toumaz already has a strategic relationship for the commercialisation of a disposable patch for continuous monitoring in hospitals.
Los Angeles-based Dr Patrick Soon-Shiong has developed and sold two multi-billion dollar pharmaceutical companies and now heads Abraxis Health, a company focused on personalised healthcare. Dr Soon-Shiong is also executive director of the Wireless Health Institute at UCLA working on real-time health monitoring, and the founder of the National Coalition for Health Integration, which is creating a health network for the secure sharing of biomedical information across the United States.
Dr. Soon-Shiong said,
"Mobile, wireless monitoring devices are the future of healthcare. The challenge is to make these devices affordable and reliable, with good ergonomics and very low energy needs. Toumaz has all these bases covered, so I am very bullish about the company's prospects, and am excited to participate with Toumaz's strong development team."
Professor Chris Toumazou, Toumaz Chief Executive, commented:
"I am delighted that Patrick's business has not only invested in Toumaz but in a clear endorsement of our technology is working with us to develop Sensium for the consumer healthcare markets. He has tremendous entrepreneurial expertise in the medical devices and technology sector."
020 7355 0036
Chris Toumazou, Chief Executive Officer
Patrick Stephansen, Chief Financial Officer
020 7600 1658
Charles Cunningham/Marc Young (Corporate Finance)
Brian Patient (Corporate Broking)
020 7457 2020
Adrian Duffield/Rozi Morris
About Toumaz - (www.toumaz.com)
Toumaz is pioneering low cost, ultra-low power wireless technologies for a wide range of markets including medical monitoring and internet-connected consumer devices.
Targeting the Healthcare market, Toumaz's licensable smart sensor interface and transceiver platform, Sensium, is a leader in real-time wireless monitoring of the body's vital signs. Sensium has the potential to transform medical monitoring and reduce the cost of healthcare by wirelessly connecting individuals to healthcare providers - simply, affordably and unobtrusively. For healthcare professionals, this creates new opportunities for pro-active monitoring and improved quality of care. For patients, it delivers new opportunities for lifestyle-compatible personalised healthcare.
Toumaz also uses its ultra low power expertise to design devices for wireless connectivity and internet-connected consumer products. Toumaz currently supplies FM/DAB radio chips and complete modules to leaders in the digital radio market, such as PURE.
Toumaz is an AIM listed company (AIM: TMZ) with development centres in Oxford, UK and Taipei City, Taiwan.
This information is provided by RNS