Novadaq Technologies Inc.

Novadaq Technologies Inc.

January 31, 2007 10:03 ET

Novadaq Announces Independent Clinical Results Presented at STS

Results Support Use of SPY System for Reduction of Post Operative Complications

TORONTO, ONTARIO--(Marketwire - Jan. 31, 2007) -

Attention Business/Medical Editors:

Novadaq® Technologies Inc. (TSX:NDQ), a developer of medical imaging
systems for the operating room, announced today that the results of an
independent study from Sunnybrook Health Sciences Centre, Toronto, Canada,
were presented at the 43rd Annual Society of Thoracic Surgeons Annual
Meeting in San Diego. These results confirm that the use of the SPY®
System during Coronary Artery Bypass Surgery (CABG) can lead to
significantly improved clinical outcomes.

"These results confirm that the use of SPY can improve the outcome of
heart bypass surgery and that identifying problems in the operating room with
the SPY System can lead to significantly improved clinical results," said Dr.
Arun Menawat, President and Chief Executive Officer of Novadaq Technologies
Inc. "Complications after surgery can lead to poor recovery, high risk repeat
surgeries and higher costs of care. These results are very important and the
STS scientific meeting is the leading forum for presentation and discussion of
important advancements in care among cardiac surgeons."

The primary objective of this comparative study which included a total of
2738 patients of which 384 (192 matched pairs) CABG patients were evaluated to
determine if perioperative (during surgery) patency assessment with SPY
fluorescence angiography decreased the amount of myocardial injury during or
after CABG surgery.

"Up to half of all significant perioperative myocardial infarctions are
related to graft failure. The immediate and long term success of coronary
surgery is dependent on the construction of a technically perfect anastomosis
with a high quality conduit to an appropriate target coronary vessel, yet
despite systematic improvements in the outcomes of coronary surgery, modern
coronary bypass series continue to report perioperative graft occlusions rates
as high as 3-10%," said Nimesh Desai, MD, PhD., lead author and cardiac
surgeon at Sunnybrook Health Sciences Centre. "A reliable and well-validated
method to assess graft patency in coronary surgery represents an important
opportunity for improving quality assurance in coronary bypass. The results of
the study demonstrate that intra-operative angiography with graft revision led
to significantly fewer perioperative myocardial injuries by enzymatic
criteria. This data supports the increasing use of the intra-operative graft
assessment to verify graft patency. These very early graft failures are
usually related to technical problems at graft anastomosis sites and may be
correctable if recognized intra-operatively."

About Novadaq Technologies

Novadaq Technologies Inc. (TSX:NDQ) develops and commercializes medical
imaging devices for use in the operating room. Novadaq's proprietary imaging
platform can be used to visualize blood vessels, nerves and the lymphatic
system during surgical procedures. Novadaq's SPY Intra-operative Imaging
System, commercially available worldwide, enables cardiac surgeons to visually
assess coronary vasculature and bypass graft functionality during the course
of open-heart surgery. Novadaq's OPTTX® System which received CE Mark
approval in November 2006, is aimed at the diagnosis, evaluation and treatment
of wet Age-related Macular Degeneration (AMD) by using the same core imaging
technology that is used in the SPY System. The HELIOS™ System, which
received FDA clearance in January 2007, is the first fluorescent imaging
system available for use during plastic reconstructive surgery allowing
surgeons to evaluate pre- and intra-operative blood flow, as well as
post-surgery perfusion. Novadaq's LUNA™ system is designed to enable
surgeons to visualize nerve bundles during the course of urological and
neurological procedures. LUNA has been granted a license for use by Health
Canada. For more information, please visit the company's website at

Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those implied by such statements,
and therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on Novadaq's
current beliefs as well as assumptions made by and information currently
available to Novadaq and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments, market
acceptance and future commitments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Novadaq in its public securities filings; actual
events may differ materially from current expectations. Novadaq disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

This press release was prepared by management from information available
to January 31, 2007.

For further information: visit our website at

Contact Information