BROSSARD, QUEBEC--(Marketwire -
March 16, 2010) - DIAGNOS inc. ("DIAGNOS" or "the
Corporation") (TSX VENTURE:ADK),
a leader in the use of artificial intelligence and advanced knowledge
extraction techniques, and Ora, Inc. ("Ora"), a leader in ophthalmic product
development, announced
today that
they have signed a consulting agreement for the U.S. FDA registration process
for CARA (Computer Assisted Retinal Analysis) application with the intention of
commercializing services derived from CARA in the United States in the coming
months.
"Based on World
Health Organization predictions, the prevalence of diabetes in the United
States will exceed 30 million people by 2030, hence we estimate the potential
value of the US market for CARA to be in excess of $150 million annually. We
are excited to work closely with Ora to develop the strategy and
submissions we will need to obtain regulatory approval. Ora is a world-renowned
ophthalmic product development organization with a proven 30 year track record
of success. Ora partners with its clients to bring an integrated approach to
overall product development, clinical-regulatory, marketing, and
commercialization strategies in ophthalmology" said Peter Nowacki, DIAGNOS'
Vice-President - Healthcare.
"DIAGNOS'
technology can enable physicians and patients to take a more proactive approach
towards the screening, management and early treatment of retinal diseases,
including diabetic retinopathy. We are very pleased to join forces with
DIAGNOS to support their efforts to bring CARA to the US market in
order to improve screening methods for diabetic retinopathy and other retinal
diseases" said Dr. Avner Ingerman, Senior Vice President, General Manager,
Retina at Ora.
About
CARA
CARA is
a tele-ophthalmology platform that integrates with existing equipment (hardware
and software) and processes at the point of service (POS) and comprises: image
upload, automated pre-screening, grading by a specialist and referral to a
specialist. CARA's image enhancement algorithms make standard retinal images
sharper, clearer, and easier to read. It is an automated platform accessible
securely over the internet, and is compatible with all recognized image formats
and brands of fundus cameras. CARA is a cost-effective tool for
processing large numbers of images, in real-time and has been issued a licence
by Health Canada for commercialization in Canada.
About
DIAGNOS
Founded in 1998,
DIAGNOS is a publicly traded Canadian corporation with a mission to
commercialize technologies combining contextual imaging and traditional data
mining thereby improving decision making processes. DIAGNOS offers products,
services, and solutions to clients in a variety of fields including natural
resources, healthcare, and entertainment.
About
ORA
Ora is the world's
leading independent ophthalmic product development firm, with more than 30 NDA
approvals during its 30-year history. Ora helps clients garner NDA approvals by
providing strategic clinical-regulatory guidance and complete turnkey
clinical-regulatory services. Ora's technology-based, concept-to-market
services and solutions accelerate development timelines and improve the
scientific quality of clinical research along every step of the development
pathway.
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this press release.
For further information, please visit our website at www.diagnos.com
or the SEDAR website at www.sedar.com. You may
also contact our investor relations representative.