Novadaq Technologies Inc.
TSX : NDQ

Novadaq Technologies Inc.

October 04, 2007 07:00 ET

Novadaq Resumes Normal Business Operations by Securing ICG for SPY

Akorn Receives Approval for Alternate ICG Manufacturing Site

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2007) -

Attention Business Editors:

Novadaq® Technologies Inc. (TSX:NDQ), a developer of real-time medical imaging
systems and image guided therapies for the operating room, today announced it has
received a sufficient supply of ICG to immediately resume normal business
operations. Akorn, Inc. (Buffalo Grove, Ill) currently the exclusive suppliers of
indocyanine green (ICG) in the United States (US) announced on September 26, 2007
that they had have received a long awaited approval for their alternate ICG
manufacturing site from the US Food and Drug Administration (FDA). The approval
resolves all issues related to the short supply of ICG, which has adversely affected
all users of ICG since March of 2007.

"As expected, the time it took to secure the new supply of ICG did break
some of our momentum. Some of our customers chose to wait to place orders
until the new ICG was introduced," said Dr. Arun Menawat, President and CEO.
"However, now that we have resumed our normal operations our sales team is
executing on the pipeline of new potential installs and I am pleased with
their progress".

Novadaq understands that a second supplier of ICG plans to enter the US
market before the end of 2007 which should further reduce the future risk of
short supply. Novadaq's policy is to where ever possible secure more than one
supplier for any of its products such as the SPY System, where two suppliers
are qualified and currently able to deliver devices.

About Novadaq Technologies

Novadaq Technologies Inc. (TSX:NDQ) develops and commercializes medical
imaging systems and real-time image guided therapies for use in the operating
room. Novadaq's proprietary ICG imaging systems can be used to visualize blood
vessels, nerves and the lymphatic system during a variety of surgical
procedures. Novadaq's SPY® Imaging System, commercially available worldwide,
enables cardiac surgeons to visually assess coronary vasculature and bypass
graft functionality during the course of heart bypass surgery. The SPY System
is expandable to include upgrade kits for use during other surgeries such as
plastic, reconstructive and organ transplant surgery allowing surgeons to
evaluate blood flow and tissue and organ perfusion. In addition, SPY is ideal
for use during urological procedures enabling surgeons to visualize vessels,
tumors, the lymphatic system and potentially nerve bundles. Novadaq's OPTTX®
System is aimed at the diagnosis, evaluation and treatment of wet Age-related
Macular Degeneration (AMD) by using the same core imaging technology that is
used in the SPY Imaging System. Novadaq also offers the FDA approved
PINPOINT™ endoscopic system for visualizing native tissue fluorescence
which allows surgeons to differentiate between healthy and cancerous tissue in
the lung during thoracic surgery. Novadaq is also the exclusive United States
distributor of PLC Medical's CO2 HEART LASER™ System for TMR
(Trans-Myocardial Revascularization). For more information, please visit the
company's website at www.novadaq.com.

Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those implied by such statements,
and therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on Novadaq's
current beliefs as well as assumptions made by and information currently
available to Novadaq and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments, the
market entry (and timing thereof) of additional suppliers of ICG, market
acceptance and future commitments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Novadaq in its public securities filings; actual
events may differ materially from current expectations. Novadaq disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

For further information: visit our website at www.novadaq.com

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