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MDM Group to License Substance Abuse Testing to Harrington Group - MDM Group outlines strategy for $4 million plus acquistion within its Law Enforcement and Homeland Security initiatives.
MDM Group to License Substance Abuse Testing to Harrington Group

 

PRZOOM - /newswire/ - Santa Clara, CA, United States, 2005/05/10 - MDM Group outlines strategy for $4 million plus acquistion within its Law Enforcement and Homeland Security initiatives..

   
 
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MDM Group, Inc. (OTC.PK: MDDM) advises of its intentions for leading oral fluid (saliva) diagnostic group, Bamburgh Marrsh LLC which, as announced on May 9, is in the process of being acquired by the Company subject to satisfactory due diligence.

It is proposed to License the global rights to the Substance Abuse initiatives to the Company's Australian listed entity, Harrington Group Limited (HGR.AX or OTC:HGRLF.PK) as this business unit is synergetic to the Law Enforcement sector being focused on and serviced by Harrington. It will also give Harrington the opportunity of very significant early revenues as the products are market ready.

Subject to approval by Harrington Group shareholders, Harrington will undertake to provide a minimum US$1.2 million per annum for two years in costs, development and working capital as well as payment to MDM Group of 7% on all gross sales.

In the biodefense applications Bamburgh Marrsh currently has, among other interests, two Cooperative Research and Developments Agreements (CRADAs) with the U.S. Navy for the development of oral fluid infectious disease tests and Anthrax testing. These initiatives are synergetic and being merged into the MDM Group biodefense division which is currently working on the establishment of solutions to such threats as smallpox and anthrax.

The Bamburgh Marrsh entity as a subsidiary of MDM Group will continue in the development of very significant diagnostic applications in the clinical market. These diagnostics are dedicated to providing effective screening tools that may be applied for the early detection of diseases and medical disorders utilizing non-invasive test specimens such as oral fluids.

The Company will provide a more detailed overview on each of the business sectors and opportunities during the course of the next several weeks as they are integrated into current operations.

Oral fluid testing and/or diagnosis is being rapidly established as an extremely economic, efficient and non-invasive process that through Bamburgh Marrsh technology will be capable of delivering instant on the spot results as opposed to the far more expensive, invasive and delayed results of tests using urine or blood samples.

MDM Group is a development stage Company focused on the Security, Biodefense and Homeland Security industries See: mdmgroupinc.com

Safe Harbor Statement

The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.

MDM Group is featured on Homelanddefensestocks.com a global investment research portal for defense and security.

 
 
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MDM Group to License Substance Abuse Testing to Harrington Group

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