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Biocontrol Technology

This article was originally published in The Gray Sheet

Executive Summary

BICO, Inc. subsidiary CEO and President David Purdy resigns following disagreement with parent company Chairman Fred Cooper over funding levels related to development of the Diasensor 2000 noninvasive blood glucose monitor, for which clinical trials are ongoing. Purdy, who resigned as BICO chairman in May to focus on the Diasensor, also faults a Sept. 8 BICO letter to stockholders for inaccuracies relating to the device. BICO maintains that "to date in year 2000, [it] has funded the Diasensor project in excess of $14 mil., which exceeds budget requirements by over $1 mil"

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