Novadaq Technologies Inc.
TSX : NDQ

Novadaq Technologies Inc.

February 24, 2005 09:00 ET

Novadaq Reports Encouraging Results in Wet AMD Study

TORONTO, ONTARIO—-(Marketwire – Feb. 24, 2005) - Novadaq™ Technologies today announced that Dr. Giovanni Staurenghi, (Associate
Professor of Ophthalmology, Department of Otorhinolaryngological and Ophthalmological Science University of Milan, Italy), reported
preliminary data on 24-patients in an on-going study using the Company's proprietary technology to treat wet Age-Related Macular
Degeneration (AMD). The data were presented on Thursday, February 24th, 2005 at the 28th Annual Macula Society Meeting held in Key
Biscayne, Florida.

"Having previously treated hundreds of patients with Feeder Vessel Therapy (FVT), the Novadaq ICG system definitely represents a major
step forward in the evolution of FVT for AMD," said Dr. Giovanni Staurenghi. "The ICG fluorescence made the feeder vessels highly and
easily detectable during treatment, in real time, allowing for easy closure of them."

Dr. Staurenghi reported on 24 patients that had been treated at the time of the abstract deadline, 12 who were treated with the Company's
state-of-the-art imaging and laser device alone, and the other 12 with the same device using indocyanine green (ICG), a florescent
imaging agent, to enhance FV photocoagulation during the FVT procedure. All patients were treated at one centre outside of Milan, Italy.
The study reported 3 preliminary conclusions: 1) FVT with ICG produced a higher rate of closure than without, 83% versus 64%; 2) FVT with
ICG requires application of fewer laser treatment spots than without ICG (3 to 9 vs. 100 to 300); and 3) the confirmation of feeder
vessel closure at the end of the procedure is indicated by temporary incarceration of dye immediately after treatment.

Publications in peer-reviewed journals have demonstrated that FVT is a clinically relevant and efficacious method of treatment for wet
AMD. Thirty (30) patients have now been treated in Novadaq's clinical study and the visual acuity data obtained on patients at the 6
month follow-up visit is better than that which has been reported at the same follow-up interval for other AMD products currently on the
market.

About AMD

Affecting more than 15 million Americans, AMD is the leading cause of severe vision loss in people 50 years of age or older. There are 2
types of AMD, wet and dry. Wet AMD accounts for approximately 10 % of all AMD cases, yet is causes approximately 90 % of blindness
associated with AMD. Wet AMD occurs when the central part of the retina, located at the back of the eye, is damaged. The damage is caused
by blood vessel growth in the layer of the vascular system immediately behind the retina, called the choroid. These new vessels leak
fluid, causing the normally-flat retina to become distorted; the vessels also can penetrate into the space directly beneath the retina,
causing it to become detached. When the center of the retina, called the fovea, becomes damaged, vision loss can be severe. The fovea is
responsible for detailed vision, used for activities such as reading and recognizing faces.

About FVT

Wet AMD is characterized by growth of abnormal choroidal vessels under the retina that leak fluid. These complexes of abnormal vessels
are fed by at least 1 blood vessel called a feeder vessel (FV). Closing these FVs prevents blood flow to the abnormal vessels, causing
them to close. The closing of the new vessels substantially prevents future damage to vision and in many cases improves visual acuity by
allowing the retina to settle back in its place. The targeted photocoagulation or closure of FVs with a laser is known FVT.

Novadaq's AMD Treatment

Novadaq has developed a unique approach to the diagnosis and treatment of AMD by combining the functions of two devices traditionally
employed in conventional Feeder Vessel Therapy (FVT), into one. The first function of the Novadaq system is to provide very high speed
and high resolution images of the vascular layer behind the retina, allowing a retinologist to readily see FVs. The second function of
the system is to close these vessels by focusing an infra-red laser beam onto them. The system utilizes the fluorescent properties of ICG
to enable the retinologist to clearly visualize FVs in real time throughout the procedure and thereby enhance the accuracy and precision
of FV closure. Allowing physicians to see in real time both the FVs and the closure of the FVs marks a major technological breakthrough
in comparison to other systems designed to perform FVT.

Novadaq Technologies is a privately held Canadian company, focused on developing and marketing diagnostic and therapeutic medical devices
for cardiovascular and ophthalmic procedures. Novadaq's SPY™ system fulfils the unmet need of validating graft patency during CABG
surgery. Novadaq's ophthalmic product is aimed at the diagnosis and treatment of wet Age-Related Macular Degeneration (AMD) by using the
same core imaging technology that is used in the SPY™ Intra-operative Imaging System. Novadaq's ophthalmic system is currently being
used in clinical trials. In April of 2000, Novadaq™ acquired exclusive worldwide rights to technology used to visually validate the
success of cardiovascular surgery from the National Research Council of Canada (NRC). Additionally, in 2001 the company also exclusively
licensed Intellectual Property from Johns Hopkins University (JHU) for visually locating and treating abnormal blood vessels in the eye
found in patients with Age-Related Macular Degeneration (AMD).

For more information, please visit the company's website at www.novadaq.com.

Contact Information

  • Novadaq Technologies Inc.
    Arun Menawat
    President & CEO
    (905) 629-3822 x 202
    Email: amenawat@novadaq.com