T-Ray Science, Inc.

T-Ray Science, Inc.

August 26, 2010 10:00 ET

T-Ray Science, Inc. Announces Product Development Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2010) - T-Ray Science, Inc. (TSX VENTURE:THZ) announces it has entered into consulting agreements with an engineering project management team for the development of the Company's skin cancer detection device exclusively licensed from the BC Cancer Agency.

Dr. Branko Palcic, formerly of the BC Cancer Agency and founder of the BC Cancer Agency's Cancer Imaging Department, and a member of the Company's Scientific Advisory Board, has been appointed Project Manager. Dr. Haishan Zeng, Senior Scientist in the Integrative Oncology Department (Imaging Unit), BC Cancer Agency, and one of the inventors of the skin cancer technology recently licensed by T-Ray from the BC Cancer Agency, will take the leading role as Scientific Advisor to the Company where the project is concerned. Dr. Palcic has assembled a team of engineers and scientists with the expertise and knowledge to build the clinical prototype required for regulatory clinical studies.

"Having the project management and leadership skills of Drs. Palcic and Zeng is a tremendous advantage for T-Ray," said Thomas Braun, the Company's CEO. "Dr. Zeng invented and built the current prototype which has been used in a large in vivo clinical study on about 1000 lesions, and Dr. Palcic has decades of experience in device fabrication and clinical studies." 

With the proceeds of the Company's recent private placement, and the significant cost savings which resulted from its management consolidation, the Company will be able to fund the completion of six beta prototypes of its skin cancer detection device within 12 months. T-Ray Science, Inc. plans to begin clinical studies for regulatory approval at that time.

About Dr. Branko Palcic, Ph.D

Dr. Branko Palcic holds a Ph.D. in Biophysics from McMaster University. He is currently both an Honorary Professor for the Department of Pathology and Laboratory Medicine, and was an Adjunct Professor for the Department of Physics, at the University of British Columbia. He was the founder and Senior Scientist of the Cancer Imaging Department, as well as the Director of Technology Development, with the BC Cancer Agency. Dr. Palcic's research interests include the development of methods for detection, diagnosis, and prognosis of early cancer and precancerous lesions. 

About Haishan Zeng, Ph.D

Dr. Haishan Zeng holds a Ph.D. in Biophysics from the University of British Columbia. He is currently a Senior Scientist in the Integrative Oncology Department (Imaging Unit) at the BC Cancer Agency and also an Associate Professor of Dermatology and Skin Science at the University of British Columbia. Dr. Zeng's research focus is on the optical properties of biological tissues and light-tissue interaction and their applications in medical diagnosis and therapy and is named on numerous patents, including the patents that T-Ray Science has licensed from the BC Cancer Agency.

About T-Ray Science, Inc.

T-Ray Science, Inc. is a medical device company centered on the commercialization of an innovative skin cancer detection system for the early diagnosis and treatment of all significant forms of skin cancer (including: melanoma, basal cell carcinoma and squamous cell carcinoma).

The Company's patented imaging and spectroscopy technologies are the foundation for the development of its non-invasive, in vivo skin cancer detection and delineation system. This diagnostic device will deliver significant clinical impact by streamlining and optimizing the skin cancer detection process, and will reduce healthcare costs by eliminating the need for most biopsies. The platform technology is extensible to other forms of cancer including gastro-intestinal and cervical cancers.

Forward Looking Statements

This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of medical devices, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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