Verisante Technology, Inc.

Verisante Technology, Inc.

December 20, 2012 10:00 ET

Verisante Provides Operational Update

2012 A Foundation Year for the Innovative, Life-Saving Skin Cancer Detector as it Readies for Market Launch

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2012) - Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF) (the "Company" or "Verisante"), a leader in cancer detection technology, provides a year-end wrap up and operational update.

A summary of significant corporate highlights and recognition for 2012 include:

  • Canadian Cancer Society named Verisante Core™ a Top 10 Cancer Breakthrough
  • Verisante named the top Technology and Life Sciences Company by the TSX Venture Exchange on the TSX Venture Top 50 2012 ranking
  • Company signed an exclusive Canadian distribution agreement with Clarion Medical Technologies, the top distributor of dermatology devices in Canada with a large installed base and headquartered outside Toronto, Ontario
  • Cancer Research, a peer-reviewed journal of the American Association of Cancer Research, published Verisante Aura™ clinical study results
  • Study results conclusively demonstrated Aura's™ diagnostic accuracy (very high sensitivity rate of 99 per cent in accurately differentiating all major skin cancers from benign lesions) and potential for reducing unnecessary biopsies by 50 to 100 per cent
  • Verisante was chosen Pick of the Street in the Technology Sector by leading fund managers, analysts, and retail brokers
  • Expanded and renovated engineering facility in Richmond by adding approximately 1500 square feet of production and assembly area for Aura™. Verisante now occupies over 5,000 square feet of office space in Metro Vancouver
  • Completed Beta Units and placed them for field testing in clinics across Canada in Vancouver, Calgary, Edmonton, Oakville, Markham and Montreal
  • Extended a Research Agreement with BC Cancer Agency to fund continued development of the Aura™ and for further research and development of the Core™
  • Took delivery of first two completed Aura™ pre-production units from StarFish Medical
  • Exhibited at, and attended several dermatological conferences around the world including the American Academy of Dermatology Annual Meeting in San Diego, the World Congress of MRTs in Toronto, and the European Academy of Dermatology and Venereology Congress in Prague where a working model of Aura™ was displayed
  • Signed an exclusive distribution agreement with Bo-Pharma/Bo-Aesthetics (the largest independent distributor of leading brands of medical devices in Benelux) for the Benelux region, which together have 1,000 dermatologists
  • Took delivery of final pre-production unit from StarFish Medical
  • Completed technical and operational training with distribution partner
  • Verisante Aura™ named a finalist for the 2013 SPIE Prism Award
  • Intermediate clinical study results on lung cancer presented at the annual BC Cancer Agency Research Conference demonstrated that Verisante Core™ is best in class for lung cancer detection
  • Verisante Aura™ early prototype currently being exhibited at the Canada Science and Technology Museum in Ottawa and accepted into the museum's permanent collection

"2012 has been a year of foundation building and growth for Verisante," said Thomas Braun, President & CEO. "We have successfully achieved our goals for this year and laid the groundwork for a full product launch of Verisante Aura™ in 2013 as we complete transfer to manufacturing processes this year. Our distribution partners are highly motivated and excited and we continue to work closely with them on sales and marketing support."

The Company is finalizing the design of marketing and sales brochures, in addition to packaging solutions for Aura's™ clean tips. Aura™ is a revolutionary device which has been developed with safety and ease of use as core principals embedded into a functional and attractive industrial design. The disposables will ensure the integrity of the system and safety for the patient. Combined with our user friendly touch screen and graphical user interface, both doctors and patients can look forward to taking advantage of this ground breaking technology as we move into production this year for delivery and full product launch in 2013. Visit Verisante's Facebook page at for an early sneak peek of some of the packaging.

The Company now has 22 full-time and part-time employees and consultants working directly on Verisante's products, including Aura™, Core™ and other pipeline projects; in addition to dozens of contract manufacturers who have been qualified as parts and fulfillment suppliers and service providers.

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. The Aura™ has been approved for sale in Canada, Europe and Australia. The Core™ has not yet been approved for sale.

Verisante Aura™ was awarded Popular Science Magazine's "Best of What's New Award" for 2011, and Verisante Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society. In addition, the Company was named as the year's top ranking Technology and Life Sciences Company on the TSX Venture 50.





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.

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.

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