Caesarea, Israel, May 5, 2016 — LabStyle Innovations Corp. (NASDAQ:DRIO), developer of the Dario™ Diabetes Management Tool, today announced that it has been granted a key patent by the European Patent Office (EPO) for the company’s personalized blood glucose monitoring device. The patent, EP2569622, entitled “FLUID TESTING APPARATUS AND METHODS OF USE,” covers claims related to a method and apparatus for performing fluid parameter measurement on a fluid sample via an earphone socket on a mobile phone. The EPO decision to grant was reached on April 7, 2016, and the patent became effective on May 4, 2016.
The Dario smart glucose monitoring device is designed to work in tandem with LabStyle’s novel and powerful Dario™ software application to form the overall Dario™ Diabetes Management Tool.
“This patent is a key addition to the LabStyle Innovations Intellectual Property portfolio. It represents another important milestone for the Company and validates the unique and proprietary technology that forms the basis of the Dario Diabetes Management Tool”, stated Erez Raphael LabStyle’s President and Chief Executive Officer. “The granted patent with the allowed claims underscores our ownership of this technology and covers our methodology that has been based upon our extensive database of reference feedback, close customer collaboration, and innovative product engineering and development.”
About LabStyle Innovations
LabStyle Innovations Corp. (NASDAQ:DRIO) creates innovative mobile and digital tools that empower and engage users to lead healthier lives. LabStyle’s “Real data. Real time. Real improvements.” approach and strategy is positioning the company as a major player in the mHealth industry; an industry currently worth $10B and expected to reach $31B by 2020. LabStyle’s flagship product, The Dario™ Smart Diabetes Management Solution, is a platform for diabetes management that combines an all-in-one blood glucose meter, native smart phone app (iOS & Android), website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the “Company”) related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company’s results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company’s actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company’s commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
| Press | Investor Relations |
| Brenda Zeitlin
LabStyle Innovations Corp. |
Lee Roth
The Ruth Group |
| 1 800 896 9062 | 646-536-7012 |
| Brenda@mydario.com | lroth@theruthgroup.com |