VentriPoint Diagnostics Ltd.

VentriPoint Diagnostics Ltd.

April 21, 2011 07:00 ET

Norwegian Cardiologists Use Breakthrough Technology to Study Heart Remodeling After Valve Replacement in Patients With Blue-Baby Syndrome

SEATTLE, WASHINGTON--(Marketwire - April 21, 2011) - VentriPoint Diagnostics Ltd. ("VentriPoint") (TSX VENTURE:VPT) (PINK SHEETS:VPTDF) A leading Norwegian pediatric cardiologist said the medical technology developed by VentriPoint has opened a new window to monitoring the remodeling of the right heart after pulmonary valve replacement.

Dr.Henrik Brun, a cardiologist at Norway's premier children's hospital called Oslo University Hospital in the capital city of Oslo, will be presenting a study designed to assess VentriPoint Medical System(VMS™) as a monitoring tool.

"We have been using the VMS™ for three months with promising results," said Dr. Henrik Brun. "It is time to tell other paediatric cardiologists about our first experience and what we hope to achieve; particularly for the follow-up of Tetralogy of Fallot (a heart disease often referred to as 'blue-baby syndrome') patients that we have studied using the VMS™ imaging process."

To that end Dr. Brun will be speaking about "Knowledge based reconstruction: A New 3D Echocardiology Concept" at a cardiology meeting in Norway on April 27th. Knowledge based reconstruction is the fundamental technology around which the VMS™ system is built.

Dr. Brun and Dr. Christian Neukamm have been using the VMS™ since December of 2010 as part of a project to evaluate right ventricular function in patients that have had a pulmonary valve replacement using a Perimount® bovine pericardial tissue valve.

The Rikshospitalet University Hospital is a national reference hospital responsible for introducing and developing new medical examination methods, treatment methods and follow-ups. It conducts more than 50 per cent of the total medical research in Norwegian medical centres.

In other news, VentriPoint also announces that, pending TSX Venture Exchange approval, it intends to issue 441,088 common shares in the capital of VentriPoint (the "Commons Shares") to holders of secured debentures of the Corporation (the "Secured Debentures") in satisfaction of annual interest due on the Secured Debentures in accordance with the terms of the Secured Debentures. The Common Shares will be issued at a deemed price (10-day average on interest due date) of $0.148 per share to the holders of the Secured Debentures for interest due totaling $65,281 and will have a hold period of four months from the date of issuance in accordance with applicable securities legislation.

About VentriPoint Diagnostics Ltd.

VentriPoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leading cause of death in developed countries. VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart is the first application in a suite of applications for all major heart diseases including pulmonary hypertension, cardiovascular disease and heart failure - a multibillion-dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of VentriPoint's VMS™ diagnostic tool and it is pursuing the US-FDA approval through the 510(k) process.

FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address VentriPoint's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. The Corporation undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

Neither 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 release

Contact Information