Novadaq Technologies Inc.

Novadaq Technologies Inc.

January 17, 2008 07:00 ET

Novadaq's SPY System Receives Clearance For Use in Organ Transplant Surgery

TORONTO, ONTARIO--(Marketwire - Jan. 17, 2008) -

Attention Business Editors:

Novadaq® Technologies Inc. (TSX:NDQ), a developer of medical imaging systems
for the operating room, announced today that it has received 510(k) pre-market
notification clearance from the United States Food and Drug Administration (FDA)
for its imaging system for use during organ transplant surgery. Novadaq's SPY®
System is the first fluorescent imaging system available for use during very
complex, technically demanding surgeries such as heart, liver, pancreas and kidney
transplants. SPY enables surgeons performing life saving transplants to visualize
blood flow in co-joined vessels which are responsible for providing adequate blood
supply and the quality of blood perfusion to the new organ.

"Intra-operative fluorescence imaging using the SPY System has opened a
new portal in transplant surgery. Potentially, the days of qualitative
assessment of organ appearance, pulse quality, and simple quantitative
vascular flow measurements using electromagnetic devices as the sole
measurement of an organ transplant are limited," said Dr. Edmund Q. Sanchez,
Assistant Director of Transplantation Services, Baylor University Medical
Center in Dallas, TX. "Our familiarity study of SPY in liver, kidney, and
pancreas transplant has demonstrated many potentially beneficial aspects of
intra-operatively assessing organ perfusion through imaging. The success of
organ transplantation is highly dependent on vascular patency and allograft
perfusion. The SPY System has allowed intra-operative visualization of both
immediately after reperfusion. The utility of SPY imaging organ
transplantation is clearly evident."

The creation and maintenance of adequate blood supply to the newly
transplanted organ or "allograft" is critical to the ultimate success of the
transplant surgery. Inadequate blood flow can lead to serious complications
such as organ thrombosis and allograft failure. The United Network for Organ
Sharing reports that while outcomes following transplantation have improved
over the years, allograft loss is a problem ultimately confronted by many
recipients. For such patients, repeat transplantation often provides the best
chance for survival and good health. Retransplantation offers hope, but
according to previous studies have demonstrated that outcomes following repeat
transplantation are in general, inferior to those observed with first
transplants. Since every organ used for repeat transplantation represents an
opportunity that cannot be directed to another candidate, the potentially
expanding role of retransplantation has been of growing concern. Use of the
SPY System may allow surgeons to quickly identify areas of inadequate blood
perfusion and potentially make immediate technical revisions which ultimately
may save the organ, improve outcomes and reduce the overall costs of recovery.

"Organ transplant is a life saving operation and often offers the only
hope for patients suffering from organ failure," said Dr. Arun Menawat,
President and Chief Executive Officer Novadaq Technologies Inc. "The lack of
available donors makes the use of each organ and the success of each
transplant critical not only to the patient undergoing the transplant, but for
those on the waiting list as well. The use of SPY has been shown to improve
the opportunity for technically perfect surgeries which may save the new organ
and in turn improve clinical outcomes for patients, prevent life threatening
complications, reduce the need for retransplant and overall reduce costs. This
new indication for SPY along with previously cleared indications in
cardiovascular and plastic and reconstructive surgery gives hospitals a
complete solution for performing imaging in the operating room during complex

According to the United States Organ Procurement and Transplantation
Network (OPTN), Transplant surgery has saved more than 300,000 lives. In 2006
there were 28,931 transplants performed in the United States and today, more
than 94,000 patients suffering from organ failure are on the waiting list.
Kidney transplant procedure costs can range widely but most average from
$25,000 to $150,000, depending on the extent of kidney disease and whether the
patient has a deceased or living donor transplant. Liver transplant procedure
costs can also range, but most average between $100,000 to $400,000, depending
on time in the hospital ICU and extent of liver disease before
transplantation. Costs can also vary greatly depending on a number of factors
including the patient's health at baseline, rate of recovery, any pre-existing
conditions and/or potential complications after surgery.

In addition to the clearance for organ transplant, Novadaq has also
received a broader indication for the use of SPY in cardiovascular surgery,
beyond the originally cleared indication in coronary artery bypass.

About Novadaq Technologies

Novadaq Technologies Inc. (TSX:NDQ) develops and commercializes medical
imaging systems and real-time image guided therapies for use in the operating
room. Novadaq's proprietary ICG imaging systems can be used to visualize blood
vessels, nerves and the lymphatic system during a variety of surgical
procedures. Novadaq's SPY Imaging System, commercially available worldwide,
enables cardiac surgeons to visually assess coronary vasculature and bypass
graft functionality during the course of heart bypass surgery. The SPY System
is expandable to include upgrade kits for use during other surgeries such as
plastic, reconstructive and organ transplant surgery allowing surgeons to
evaluate blood flow and tissue and organ perfusion. In addition, SPY is ideal
for use during urological procedures enabling surgeons to visualize vessels,
tumors, the lymphatic system and potentially nerve bundles. Novadaq's OPTTX®
System 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 Imaging System. Novadaq also offers the FDA approved PINPOINT
endoscopic system for visualizing native tissue fluorescence which allows
surgeons to differentiate between healthy and cancerous tissue in the lung
during thoracic surgery. Novadaq is also the exclusive United States
distributor of PLC Medical's CO2 HEART LASER™ System for TMR
(Trans-Myocardial Revascularization). For more information, please visit the
company's website at

Forward looking Statements

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.

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