Perceptronix Medical Inc. Laboratories

Perceptronix Medical Inc. Laboratories

June 24, 2008 19:58 ET

Perceptronix Signs Significant Partnership Agreements for Early Lung Cancer Detection Test, LungSign™

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Perceptronix is pleased to announce two (2) new distribution partnerships signifying an important third party validation of LungSign™ and its value in the market place. IRS (Independent Respiratory Services) and Medpro Respiratory Care have agreed to add the LungSign™ test kit to their list of offerings allowing physicians to now order the test directly through these service providers. Patients will receive a test kit, with a physician's requisition, from our distributors' office in their geographic area and then mail the specimen to the Perceptronix laboratory for analysis.

The addition of LungSign™ to the IRS and Medpro offerings expands their current scope of services to include detection for lung cancer, which is seen as the leading category of cancer causing death among men and women. The provision of LungSign™ through IRS and Medpro enables patients to access the most up to date technology in respiratory health. The partnership also allows more geographic areas to be reached putting LungSign™ in the hands of all physicians throughout BC and more people who need it.

The partnership will engage both Perceptronix and the distributors in co-promotion of the LungSign™ test. Perceptronix will provide technical support to the distributors as all parties continue to work together to serve the needs of a broad client base.

IRS will cover the Okanagan Valley while Medpro will cover the greater Vancouver area (including Vancouver Island).

"This is a very exciting time for our company," said Bojana Turic, President and CEO of Perceptronix. "Partnerships with companies like IRS and Medpro, who are recognized expert providers of respiratory services, reflect the increasing need for the LungSign™ test in this critical market."

"This partnership with Perceptronix brings a valued added service to our portfolio," said Keith Houghton president and CEO of IRS. "The team at Perceptronix have delivered an early cancer detection technology to a market that is in desperate need of a test like LungSign™."

"The ability for CareStream to broaden its marketing capacity with a cancer test like LungSign™, provides us with state-of-the-art technology with which to enter the Lung Cancer markets," said George Louvros, BC Manager of Medpro Respiratory Services.

In North America, overall cancer rates, and related deaths, have been declining in recent years. Lung cancer incidence and death rates, however, continue to climb. Every year, over 230,000 North Americans are told they have lung cancer. It is the second leading category of cancer death in men, and has even surpassed breast cancer as the leading category of cancer death in women. On a yearly basis, more people die of lung cancer than of breast, colon and prostate cancers combined.

About IRS Independent Respiratory Services Inc. (IRS)

Located in the interior of BC, IRS Independent Respiratory Services Inc. is a BC-owned and operated full service respiratory company. Founded in 1996, IRS services Interior hospitals and clinics throughout BC. They are known for their commitment to excellence in respiratory care, quality service, timely and accurate reporting of results, and commitment to patient care.

About Medpro Respiratory Services (division of CareStream Medical Ltd.)

Medpro Respiratory Services is a division of CareStream Medical Ltd., which was founded in 1997 and has been serving our customer's respiratory and anesthesia needs for over 10 years. Medpro Respiratory Care is a respiratory equipment and service provider serving the British Columbia respiratory homecare market for the past 10 years under the Carestream Medical Ltd. banner. MedPro was recently awarded the provincial Home Oxygen Contract in 4 of the 5 Health Regions in BC making it one of the largest home oxygen providers in BC. Carestream is in the 200 fastest growing companies in Canada based on the previous five fiscal years.

About Perceptronix Medical Inc.

Perceptronix Medical Inc. is a Vancouver-based, privately-owned cancer detection company founded in June 1999 as a spin off of the BC Cancer Agency. The mission of Perceptronix is to commercialize effective technologies to improve the early detection, localization, diagnosis and follow-up of cancer, with an initial focus on lung cancer. Perceptronix' products and services offer an improvement over existing detection and localization technologies and provide physicians with increased options for prolonging and improving the quality of patients' lives.

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