FOR IMMEDIATE RELEASE
Richard M. Greenwald
Janyes R. Lemons
SIMBEX ANNOUNCES TECHNOLOGY TRANSFER AND JOINT TECHNOLOGY DEVELOPMENT WITH FOOTBALL POWERHOUSE RIDDELL After almost a decade of research and development, the HIT System™ (Head Impact Telemetry) to be commercialized by Riddell. Lebanon, NH - September 10, 2004 - Simbex LLC announced that it has transferred rights to its Head Impact Telemetry technology to Riddell Sports Group, Inc., the leading provider of football helmets and other branded sporting goods, equipment reconditioning services and sports collectibles. Simbex will be engaged by Riddell to assist in the ongoing development and commercialization of the technology, and in the integration of HIT System technology into Riddell products, which include helmets and protective padding for a variety of sports. The HIT System is a revolutionary technology that measures the acceleration of an athlete's head during games and practices in helmeted sports. These accelerations are believed to be correlated to the incidence and severity of mild traumatic brain injury, including concussions. The HIT System will be an important tool to identify sideline staff in real time to the presence and severity of head impacts during games and practices. Concussions often go undetected at the time of occurrence - potentially putting the athlete at increased risk for more significant injury. "This agreement marks a significant milestone for Simbex", said Richard M. Greenwald, PhD, founder and President of Simbex. "and is a validation of our business model to develop technology to the point where we engage an industry-leading partner for the final phases. We will work together with Riddell to introduce products to the helmeted team sports market that combine protection and prevention against head injury in sports." The HIT System concept for widespread on-field measurement of head acceleration in sports was conceived by Simbex company founder and President, Rick Greenwald and Brown Medical School researcher Joseph J. (Trey) Crisco, III, Ph.D., Director of the Bioengineering Lab, Department of Orthopaedics. Simbex's development of the HIT System was supported in part by the National Center for Medical Rehabilitation Research at the National Institutes of Health, and is currently being used for groundbreaking research at Virginia Tech University, University of North Carolina and University of Oklahoma. "There are rich opportunities for better understanding of concussion injuries that require direct knowledge of the impact biomechanics surrounding the injury", says Greenwald. "We are especially proud to be working with Riddell", said Jeff Chu, Director of Engineering at Simbex. "They are the recognized by the market as the technology leader in football helmets, and they have continued to lead the way with their Revolution helmet technology. Working with Riddell in this phase will allow us to keep our focus on HIT System technical development, which is what we do best, and leverage Riddell's expertise in football and team sports sales and marketing." No timetable is set for commercialization, but the HIT System continues to be the only research tool available that can measure head accelerations in real-time in helmeted sports for large numbers of athletes. In a separate announcement last week, Fenway Partners, a leading private equity firm and majority owners of Riddell, announced that it had entered into a definitive agreement to acquire Bell Sports Corporation, the world's leading marketer of helmets and accessories for bicycling and other action sports. The transaction will merge Bell Sports and Riddell Sports Group, which are both market leaders with reputations for highest quality products, state-of-the-art design, technological innovation and a focus on safety and protection. Together, Bell and Riddell will have the world's largest research and development effort focused on head protection.
About Simbex LLC
About Riddell Sports Group, Inc.
About Fenway Partners.
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