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Monday November 05, 2007
Hathaway's (HWYI) Subsidiary DDI Progresses
Towards Clinical Trials and FDA Clearance
Physician Response to Third Prototype Overwhelmingly Positive
PALO ALTO, CA--(MARKET WIRE)--Nov 5, 2007 -- Hathaway Corporation
(Other OTC:HWYI.PK - News) announced that its subsidiary Diabetes
Detection, Inc. (DDI) has received an overwhelmingly positive response
from physicians for its third prototype and has begun the process
of formulating the criteria parameters needed from clinical trials
to insure we meet the needs of the FDA for final clearance of the
neuropathic pager.
"The advanced stage in the development of the DDI product,
evidenced by this highly mature prototype, has provided a strong
impetus for acceleration in our operations plan," said Mr.
Sadruddin Currimbhoy, Hathaway's COO, and interim CEO of DDI. "We
have already begun the process to finalize the parameters that will
allow us to go to clinical trials and submission for FDA clearance,
well ahead of schedule. In addition, our engineers feel confident
the processes we've implemented in the new pager prototype will
be able to pinpoint the neuropathic level of the patient for an
incredibly accurate detection process. This will lead to physicians
having the ability to properly diagnose these levels and properly
administer treatment to effectively treat their neuropathy and possibly
head off further complications that can lead to diabetes."
The Diabetes Market
The American Diabetes Association estimates that 20.8m, or 7% of
the entire population of the United States has diabetes -- with
this expected to continue to grow at a dramatic pace. The ADA estimates
that direct medical and indirect expenditures attributable to diabetes
in the US alone is $132 billion (2002).
About DDI
Diabetes Detection Inc.'s patent-pending Neuropathy testing technology,
converged with communications devices, facilitates the early detection
of neuropathy that can lead to Diabetes and other chronic diseases.
The company develops products and utilizes distributors to sell
the products globally to managed care facilities, doctor groups,
and hospitals for effective diagnosis of chronic diseases. For more
information, please visit the website at www.diabetetesdetectioninc.com
Forward-Looking Statements
This press release may contain forward-looking statements covered
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements relate to, among other
things, plans and timing for the introduction or enhancement of
our services and products, statements about future market conditions,
supply and demand conditions, and other expectations, intentions
and plans contained in this press release that are not historical
fact and involve risks and uncertainties. Our expectations regarding
future revenues depend upon our ability to develop and supply products
and services that we may not produce today and that meet defined
specifications. When used in this press release, the words "plan,"
"expect," "believe," and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of
risks and uncertainties, including, but not limited to, changes
in technology and changes in pervasive markets.
Contact:
FutureTechIR for Hathaway Corporation
Investor Relations
(817) 812-2105
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