LabStyle Innovations Announces that the European Market Launch of the Dario™ Diabetes Management Platform iOS Mobile App Will Begin on December 12, 2013

RAMAT GAN, Israel, Nov. 4, 2013 /PRNewswire/ -- LabStyle Innovations Corp. (OTCQB: DRIO), developer of Dario™, a cloud-based, mobile health (mHealth) platform for diabetes and related blood glucose monitoring, announced today the official European launch date for the Dario™ iOS mobile application. 

The complimentary app will be available for download from the Apple App Store on December 12, 2013 in the U.K., Australia and New Zealand.  Customers will be able to experience the novel functionality and benefits of Dario™'s iOS app, no matter what blood glucose monitoring device they are currently using, by manually feeding in the information.  The launch of the Dario™ iOS app in Europe marks the first step of LabStyle's worldwide roll-out of the full Dario™ platform.

"In a matter of weeks, we will begin the initial phase of building a user base of customers who will be able to first get to know and appreciate the feature rich deliverables of the Dario™ app and, soon after, integrate it with their Dario™ glucose monitoring device and website application," said Erez Raphael, president and chief executive officer of LabStyle.

The Dario™ diabetes management platform is intended to promote compliance and a more confident, advantageous and enjoyable way of living for people with diabetes.  It is designed to capture the complete diabetic landscape from monitoring to therapy. 

"This is a very exciting time in the evolution of LabStyle," continued Mr. Raphael.  "We are looking forward to achieving several important milestones in the coming months and to providing those in the diabetes community with a new way to approach and better manage their condition."

Using the mobile app, customers will be able to easily, instantly and in real-time, check blood sugar levels using their smartphone and gain useful insights and views regarding what to do next.  The software is currently compatible with iOS and ultimately will be with Android devices as well.  The software fully integrates with the stylish, 'all-in-one', pocket-sized, Dario™ blood glucose monitoring device, which comes complete with lancet, strips and a meter that connects to a smartphone, and a website application enabling patients, medical professionals and caregivers to access data and as a result drives proactive intervention. The device will be commercially available in Europe in a soft launch during the first quarter of 2014.  Over the longer term, the platform is expected to be able to integrate with insulin delivery and other diabetes devices.

"Dario™ is the next generation in advanced diabetes self-management.  It leverages the potential and the many benefits of the mobile age and current online practices.  In time for the holidays, customers will begin experiencing an entirely new approach - proactively managing diabetes in a fun, engaging and social way using their mobile device," said Dr. Oren Fuerst, executive chairman and co-founder of LabStyle.  "Unlike older devices which solely checked glucose levels, or existing competition that may or may not link glucose monitoring with an app or the cloud, we believe that Dario™ is the only end-to-end mobile health platform that will be able to offer and encourage people living with diabetes a way to really understand and control their disease." 

LabStyle was granted a CE mark for the full Dario™ diabetes management platform in September 2013, which allows LabStyle to market Dario™ in Europe.   The company plans to file for 510(k) FDA clearance for marketing the full Dario™ diabetes management platform in the U.S. in the near future and anticipates regulatory clearance in 2014.  It is also actively exploring other regulatory approvals worldwide.

Approximately four hundred million people have diabetes worldwide according to the website of the International Diabetes Federation.   As reported in a press release published by Transparency Market Research, the global diagnosis and monitoring devices market is expected to reach USD 26.0 billion by 2018, growing at a CAGR of 7.8% from 2011 to 2018; in addition, the total diabetes management market was $50.8 billion in 2011 and is estimated to reach $98.4 billion by 2018.

LabStyle also announced that it will be exhibiting at Medica 2013 in Germany, November 20-23, 2013.  Medica participants are invited to visit the LabStyle exhibit located in Hall 16, Booth G40, for a short briefing and sneak preview demonstration of Dario™ and the new iOS mobile app.

About LabStyle Innovations

LabStyle Innovations Corp. (OTCQB:DRIO) is a mobile health (mHealth) company developing and commercializing patent-pending technology providing consumers with laboratory-testing capabilities using smart phones.  LabStyle's flagship product, Dario™, is a mobile, cloud-based, diabetes management platform which includes a stylish, 'all-in-one', pocket-sized, blood glucose monitoring device.  Dario™ received CE mark certification in September 2013 and is pursuing patent applications in multiple jurisdictions covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services.  For more information: www.mydario.com.

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the Company) related thereto contains 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 discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, those related to the anticipated commercial launch of Dario in Europe, the Company's regulatory programs in the U.S. and elsewhere and the Company's business plans generally) 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 Contact
LabStyle Innovations Corp.
Marjie Hadad, Media Liaison
+972-54-536-5220
[email protected]

SOURCE LabStyle Innovations Corp.