Verisante Technology, Inc.

Verisante Technology, Inc.

March 12, 2015 10:00 ET

Verisante Obtains Mexican Approval

Aura Receives Approval From COFEPRIS, a Division Within the Mexican Ministry of Health to Market and Sell

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 12, 2015) - Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF) (the "Company" or "Verisante"), a leader in skin cancer detection technology, announced today that it has received regulatory approval from the Federal Commission for Protection against Sanitary Risks (COFEPRIS), a division within the Mexican Ministry of Health, to market and sell Aura™, a device for the detection of skin cancer, in Mexico.

Mexico is the second largest medical device market in Latin America, and the largest medical device importer in the region, importing over $3 billion worth of medical devices and equipment in 2010.

While the incidence rate of skin cancer in Latin America is lower than in North America, the mortality rate is generally higher because of the low index of suspicion, which causes diagnosis to be delayed and can result in an advanced presentation of the disease.

"Now that Verisante has obtained approval to market and sell Aura™ in Mexico, we will be looking for a suitable partner or distributor in the region," said Thomas Braun, President & CEO. "Mexico and other Latin American countries present a significant opportunity for the Company as we continue to place Aura™ units in Canada and Europe and move ahead with the process of obtaining FDA approval to market and sell Aura™ in the United States as well."

Aura™ is indicated for use for the evaluation of skin lesions that may be clinically suspicious for melanoma, squamous cell carcinoma and/or basal cell carcinoma when a medical professional chooses to obtain additional information before making a final decision to biopsy. Basal cell and squamous cell skin cancers together make up about 96 per cent of all skin cancers. While early detection of melanoma is critical due to its high mortality rate, it is also important to detect the most common skin cancers early in order to achieve the best patient outcomes.

About Verisante Technology, Inc.

Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura™ for skin cancer detection and the Verisante Core™ series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians immediate results for many of the most common cancers. Aura™ has been approved for sale in Canada, Europe and Australia. The Core™ has not yet been approved for sale.

Verisante Aura™ was awarded the 2014 North American Technology Innovation of the Year Award for In Vivo Cancer Detection by Frost & Sullivan, Popular Science Magazine's "Best of What's New Award" for 2011, awarded a 2013 Prism Award for Innovation in Photonics and an Edison Award for Excellence in Innovation in 2013. Verisante Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the 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 press release.

Forward Looking Statements

This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of medical devices, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.

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