Verisante Technology, Inc.

Verisante Technology, Inc.

July 03, 2015 09:30 ET

Verisante Provides Operational Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 3, 2015) - Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF) (the "Company" or "Verisante"), a leader in skin cancer detection technology, provides a mid-year operational update.

Verisante is pleased to announce that the Company has received a purchase order from the Nova Scotia Health Authority for an Aura™, which will be used by Dalhousie University in a research study. The Company expects to coordinate delivery and training of the device this year.

The Company also continues to receive specialized interest for its VRS Raman Research System, completing a sale to researchers in the division of Johnson & Johnson Skin Care who will be using the device to gather in vivo Raman measurements of lotions applied to the skin.

These recent sales follow upon Verisante's exhibit of Aura™ at the World Congress of Dermatology held in Vancouver, BC, from June 8-13, 2015 where Aura™ was well received by both the local and international skin specialist community. The Company also took the opportunity to begin a new pilot partnership program with local, Vancouver area doctors to place Aura's in high traffic clinics.

In addition to the abovementioned developments with Aura™ and the VRS research system, the Company also continues to make progress with applications for Verisante's Core™ system for the detection of internal cancers.

Earlier in 2015, the Company announced an exciting collaboration between Verisante, the BC Cancer Agency and Imperial College Healthcare NHS Trust to develop an application that would use Verisante's Core ™ laser raman system in a study to determine if the system is able to assist in ascertaining the margins between tumour and normal brain tissue. The initial results have been very encouraging as the study continues to enroll new patients. The study is being led by Dr. Babar Vaqas, a Neurosurgeon and the Principal Investigator.

Verisante also continues it associations with world class institutions by expanding its collaboration with Fujian Normal University in China, whereby Verisante is providing two Raman spectrometers to test a new endoscopic probe design which could decrease the manufacturing cost of the Core™ system by up to 50%.

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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