Diagnos Inc.

Diagnos Inc.

March 16, 2010 14:51 ET

DIAGNOS Signs an Agreement with ORA Consulting for the U.S. Food and Drug Administration (FDA) Registration Process

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.

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.

Contact Information

  • DIAGNOS inc.
    Andre Larente
    1-877-678-8882 or 450-678-8882, ext.: 224