Urodynamix Technologies Ltd.

Urodynamix Technologies Ltd.

October 09, 2007 09:00 ET

Urodynamix Announces New Device to Help Diagnose Prostate Cancer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2007) - Urodynamix Technologies Ltd. (TSX VENTURE:URO) today announced that it is developing a new application of its near infrared spectroscopy ("NIRS") technology to measure blood flow in the prostate gland and aid in the diagnosis and localization of prostate cancer and prostate disease during a routine annual screening test known as the digital rectal examination ("DRE").

Preliminary studies completed by Dr. Zeid Mohamedali, MD, PhD, FRCS(C), a member of Urodynamix's Board of Directors, at the Adult and Pediatric Urology Clinic at the Central Island Research Center examined the evaluation of blood flow in the prostate gland in 10 prostate cancer patients. The studies were conducted during otherwise routine DREs and confirmed that the prototype NIRS prostate sensor was able to quantify and evaluate blood flow in different quadrants of the prostate and potentially aid in the diagnosis of disease by reducing the quantity or improving the accuracy of biopsies.

The Company believes the key value of this technology will be its ease of use and integration with the existing DRE procedure, which is currently the front-line screening tool for the diagnosis of prostate cancer. When used in combination with other screening procedures such as the Prostate-Specific Antigen ("PSA") test, Urodynamix believes that its NIRS prostate imaging technology could significantly increase the sensitivity of the DRE toward cancer and other conditions of the prostate gland.

Published reports indicate that the sensitivity of the conventional DRE may be as low as 53.2% (1). The NIRS-enhanced DRE may increase the sensitivity of the DRE and more accurately determine where cancer is located within the prostate, allowing doctors to deliver more targeted local treatments such as drugs, radiation seeds or probes that deliver energy to destroy cancer cells.

In the United States, Europe and Japan, the target market for a NIRS prostate imaging test consists of an estimated 150 million men whom the American Cancer Society believes should be offered the DRE yearly beginning at age 50 in average risk populations and at age 45 in high risk populations, such as African Americans and men who have a first-degree relative diagnosed with prostate cancer (2).

Urodynamix plans to advance its prostate imaging development program and initiate further clinical trials prior to year end. The Company previously filed provisional patent applications with the U.S. Patent and Trademark Office protecting methods of monitoring blood flow in the prostate gland using NIRS technology and intends to develop a body of intellectual property around this invention.

Upon the satisfaction of certain conditions, Urodynamix has agreed to issue 150,000 treasury shares to Dr. Mohamedali in exchange for full rights to this invention, including his provision patent application. No finder's fee is payable in connection with the acquisition. Urodynamix's Board of Directors has reviewed the transaction in accordance with its normal procedures and Dr. Mohamedali declared his interest in the transaction and abstained from voting in accordance with corporate law requirements.

About Prostate Cancer

Prostate cancer is the most commonly diagnosed non-skin cancer in North America and the third most common cause of cancer death in men. Every year an estimated 250,000 new cases of prostate cancer are diagnosed in North America and over 30,000 men die from the disease. One in 10 men in United States will have prostate cancer diagnosed in his lifetime (3).

Screening tools for detecting prostate cancer include PSA testing and the DRE, or digital rectal exam. Current prostate cancer screening tests are plagued by false negatives and inconclusive positives, and often result in the uncertain circumstance known as watchful waiting.

(1) Mistry, K et al. Meta-Analysis of Prostate-Specific Antigen and Digital Rectal Examination as Screening Tests for Prostate Carcinoma. The Journal of the American Board of Family Practice 2003; 16:95-101.

(2) Smith RA et al. American Cancer Society Guidelines for the Early Detection of Cancer. A Cancer Journal for Clinicians 2006; 56:11-25.

(3) Godley PA. Prostate cancer screening: promise and peril-a review. Cancer Detection Prevention 1999; 23:316-24.

About Urodynamix Technologies Ltd.

Urodynamix is developing a portfolio of non-invasive diagnostic products for large and growing global healthcare markets. The Company is currently developing medical devices that use near-infrared spectroscopy (NIRS) to aid in the diagnosis and treatment of urological conditions, intra-abdominal hypertension and compartment syndrome, erectile dysfunction and vascular diseases. Urodynamix's breakthrough technology has the potential to beneficially affect more than 200 million people worldwide.

On behalf of the Board,

Barry Allen, President & CEO

Urodynamix Technologies Ltd.

Certain information contained in this press release may be forward-looking and is subject to unknown risks, which could cause actual results to differ materially from those set forth or implied herein. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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