VANCOUVER, BC and BOSTON, MA--(Marketwired - December 01, 2016) - Imagin Medical (CSE: IME) (OTC PINK: IMEXF) (FRANKFURT: DPD2) (the "Company") announced today that it has completed development of its i/Blue Alpha B Prototype.
The original prototype, developed at the Lawrence Livermore National Laboratory in 2012, was relocated to the University of Rochester, Laboratory of Laser Energetics (LLE) in May 2016 under a Loan Agreement between Imagin Medical and Lawrence Livermore National Laboratory. Dr. Stavros Demos, the inventor of the technology, currently holds the position of Senior Scientist at LLE and is the Technical Scientific Advisor to Imagin Medical. He supported Imagin's development team during the successful retrofitting of the unit with significant improvements to its internal components. Image processing and display software has been developed that integrates state-of-the-art, high resolution cameras and patented, image-blending technology with other proprietary elements. The result will be a composite image highlighting the cancer lesions within the bladder in high definition, estimated to be 100,000 time more sensitive than currently available.
"We're very excited to reach this important milestone," said Dr. Stavros Demos, the inventor of the i/Blue. "It brings us one step closer to our goal of providing better bladder cancer detection and helping to prevent its recurrence."
Clinical trials are scheduled for early 2017. In addition, Imagin is in current negotiations with a product design firm to move i/Blue Imaging System through manufacturing and commercialization.
About Imagin Medical
Imagin Medical is developing imaging solutions for the early detection of cancer through the use of endoscopes. The Company believes it will radically improve the way physicians detect cancer. Imagin's initial target market is bladder cancer, a major cancer worldwide, the sixth most prevalent in the U.S., and the most costly cancer to treat due to a greater than 50% recurrence rate. Developed at the Lawrence Livermore National Laboratory, this advanced, ultrasensitive imaging technology is based upon improved optical designs and advanced light sensors. Learn more at www.imaginmedical.com.
ON BEHALF OF THE BOARD:
President & CEO
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.