Avery Dennison Medical Solutions and Proteus Biomedical Launch Partnership
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Development, License and Manufacturing Agreements Focus on Wearable Sensor Technology
CHICAGO and REDWOOD CITY, Calif. - June 7, 2011 - Avery Dennison Medical Solutions, a division of Avery Dennison Corporation (NYSE: AVY) and a global leader in pressure-sensitive adhesive technologies for medical applications, in cooperation with Proteus Biomedical, Inc. (Proteus), a leader in intelligent medicine and mobile health products, today announced a partnership focusing on patch-based wearable sensors for consumer, home health care and remote medical applications. Financial terms were not disclosed.
Proteus has developed a U.S. FDA 510K cleared and European Union CE Mark-certified personal monitoring device for continuous physiologic sensing and monitoring. Proteus and Avery Dennison Medical Solutions have joined forces to reduce cost, enhance wearability and commercialize this advanced platform. Proteus' personal monitoring technology incorporates multiple sensors to monitor important physiologic parameters of interest to consumers and clinicians, including heart rate, physical activity and sleep patterns. Avery Dennison Medical Solutions is providing adhesive and material technologies and developing the manufacturing platform to mass produce the wearable sensors for the companies' respective customers.
"The partnership with Proteus is a key component of our strategy to become a leader in the emerging areas of consumer and remote patient monitoring," said Howard Kelly, vice president and general manager, Avery Dennison Medical Solutions. "Proteus' personal monitoring technology, combined with our expertise in skin-friendly adhesives and advanced manufacturing capabilities, provide a platform for innovative products that can help improve people's quality of life and reduce healthcare costs."
Proteus' personal monitoring technology has been licensed non-exclusively by Avery Dennison Medical Solutions for use in health, wellness and remote medical monitoring applications. Avery Dennison Medical Solutions will develop proprietary products that incorporate the Proteus technology. Proteus continues to develop and commercialize its personal monitoring and other intelligent medicine and mobile health products in consumer, medical and pharmaceutical applications.
"Our vision for intelligent medicine is to put the consumer first in the development of desirable, comfortable and low cost sensor-enabled products," said David O'Reilly, chief product officer, Proteus Biomedical. "Avery Dennison has a long history of improving products with innovative technology and scaling production for global markets. That is exactly what the field of wearable sensing requires, and we are delighted to partner with Avery Dennison Medical Solutions to advance our shared strategy."
About Avery Dennison
Avery Dennison (NYSE:AVY) helps make brands more inspiring and the world more intelligent. For more than 75 years the company has been a global leader in pressure-sensitive technology and materials, retail branding and information solutions, and organization and identification products for offices and consumers. A FORTUNE 500 company with sales of $6.5 billion in 2010, Avery Dennison is based in Pasadena, California and has employees in over 60 countries. For more information, visit www.averydennison.com.
About Proteus Biomedical, Inc.
Proteus Biomedical is pioneering intelligent medicine, an emerging field of advanced therapeutics that integrates in-body computer, sensor and communications technologies into existing pharmaceutical, medical device and consumer products. Proteus' proprietary computing and sensing technologies enable proven therapies to be personalized, offering broad potential benefits across a range of care settings and therapeutic areas. More information about Proteus Biomedical can be found at www.proteusbiomed.com.
Contacts:
Avery Dennison
Medical Solutions
Bob Giuliano
+1 (610) 328-1051
Bob.Giuliano@prplace.biz
Kate Franco
+1 (312) 206-1037
kate.franco@averydennison.com
Proteus Biomedical, Inc.
Marnell Mullarkey
+1 (650) 632-4031
Mmullarkey@proteusbiomed.com
