Regulatory clearance to sell blood glucose product

10 Nov 2009

Universal Biosensors, Inc. (ASX: UBI) reports that it has been advised by LifeScan, Inc. that an initial regulatory clearance to sell has been granted for the blood glucose monitoring product developed with UBI.

Regulatory clearance triggers a milestone payment of USD 16 million to UBI.

UBI CEO Mark Morrisson said, “This is a tremendous accomplishment for UBI technology. The product has market leading attributes and our partnership is with a world market leader, LifeScan.”

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