Verisante Technology, Inc.

Verisante Technology, Inc.

August 07, 2013 10:00 ET

Verisante Technology, Inc. Announces Study on Nasopharnygeal Cancer in China

Verisante Core ™ Study for Lung Cancer has Concluded and Colon Cancer Study is Successfully Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 7, 2013) - Verisante Technology, Inc. (TSX VENTURE:VRS) (OTCQX:VRSEF) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today it has entered into a collaboration with the BC Cancer Agency and Fujian Normal University in China (the "University") to develop a new application for the Company's exclusively licensed platform technology.

Verisante has currently licensed technology from the BC Cancer Agency to develop its Core™ devices, which use an endoscope for the detection of lung, colon, gastro-intestinal and cervical cancers. This new collaboration adds an option to include nasopharyngeal cancer on the list of applications licensed from the BC Cancer Agency to Verisante. The University will be using a nasopharyngeal endoscopic laser Raman system in a study to detect cancerous lesions. Verisante is providing the University with a ClearVu Elite fluorescence endoscopy system. Dr. Haishan Zeng, a distinguished scientist in the Integrative Oncology Department at BC Cancer Agency is leading the development of a nasopharyngeal endoscopic Raman probe. Both the fluorescence imaging system and the Raman spectroscopy probe will be used in the detection and analysis of spectral data collected on patients in China at the Fujian Provincial Tumor Hospital.

"The Verisante Core™ for nasopharyngeal cancer detection has the potential to significantly improve patient outcomes," said Dr. Zeng, who is also an associate professor of dermatology and skin science at the University of British Columbia in addition to his work at the BC Cancer Agency. "Our collaboration with the Fujian Normal University in China is an important step in testing the technology on real patients in a clinical setting."

Nasopharyngeal carcinoma is the most common cancer found in the nasopharynx (the upper part of the throat behind the nose). It is fairly rare in North America, but much more common in Southern China and North Africa and was the seventh most fatal cancer in Hong Kong in 2011. The five-year survival rate for people diagnosed with nasopharyngeal cancer is 72 per cent if found early, decreasing to only 38 per cent if found at a later stage.

"We are pleased to continue our partnership with the BC Cancer Agency and to collaborate with a reputed research organization like Fujian Normal University in China," said Thomas Braun, President and CEO. "While the Company continues to work closely with our exclusive distributors to support sales and marketing efforts of our skin cancer detection device, Aura™, we are also making good progress with Verisante Core™. Adding the nasopharyngeal application and collaboration with China nicely rounds out our continuing portfolio of studies on applications for the Core™, which will be our next product to market. There continues to be high level interest in developing applications for the Core™ in China and throughout the Asian markets."

In addition to this new nasopharyngeal collaboration, the clinical studies involving lung cancer and colon cancer using Verisante Core™, the Company's endoscopic Raman technology, continue.

Lung Cancer

The lung cancer clinical trials conducted at the BC Cancer Agency and led by Dr. Stephen Lam have now been concluded and the statistical analysis of the results is underway. Raman spectra have been collected from more than 300 malignant and benign lesions.

The current study builds on the initial success of the pilot study using an improved Raman system. The pilot study was able to obtain clear in vivo Raman spectra in one second and pre-neoplastic lesions were detected with a sensitivity of 96 per cent and a specificity of 91 per cent.

Colon Cancer

A colonoscopy Raman probe has been successfully developed by Dr. Zeng's team at the BC Cancer Agency. A clinical study led by Dr. Isabella Tai is now being conducted at Vancouver General Hospital in British Columbia, Canada. So far, measurements on two patients have confirmed the functionality of the probe and the quality of the acquired Raman spectra.

Colon cancer is the second-leading cause of cancer death in Canada and the third most common cancer in the United States as well as the second leading cancer killer. Every year in the United States there are more than 100,000 new cases of colon cancer diagnosed.

About the BC Cancer Agency

The BC Cancer Agency is part of the Provincial Health Services Authority (PHSA), providing province-wide specialty healthcare in British Columbia (BC), Canada. The BC Cancer Agency provides a comprehensive cancer control program for the people of BC by working with community partners to deliver a range of oncology services, including prevention, early detection, diagnosis and treatment, research, education, supportive care, rehabilitation and palliative care.

About Fujian Normal University

Fujian Normal University, founded in 1907, is one of the largest universities in Southeastern China. The University has four national centers for scientific research and personnel training, eight key laboratories or research centers sponsored by either the ministries concerned or the provincial government, one Ministry of Education sponsored research center for basic education, and several dozens of provincially sponsored laboratories and research institutes. The nasopharyngeal research will be led by Professor Rong Chen as principal investigator at the Key Laboratory of Optoelectronic Science and Technology for Medicine, Ministry of Education.

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 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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