VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF)(FRANKFURT:V3T) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today that the research team at the BC Cancer Agency is presenting a poster on study results for lung cancer at the BC Cancer Agency 2012 Annual Cancer Conference, November 29-December 1, 2012; and making an oral presentation at a clinical imaging session at SPIE Photonics West 2013, February 2-7, 2013.
Verisante, under a licensing agreement with the BC Cancer Agency, owns the exclusive world-wide rights to the technology being presented by the research team. The platform technology has been used in the Company's first product, Verisante Aura™, for the detection of skin cancer, and is applicable for the detection of lung cancer through the use of a fiber optic probe that goes down the biopsy channel of a bronchoscope.
The poster, entitled Characterization of Pre-neoplastic and Neoplastic Bronchial Lesions using Laser Raman Spectroscopy will be presented by Dr. Haishan Zeng. The research was supported by the Canadian Institutes of Health Research and the Canadian Cancer Society and confirms the results of the pilot study, which were published in the Journal of Thoracic Oncology in July 2011.
The results of the pilot study published last year indicated that Verisante's system technology could set a new standard for the early detection of lung cancer.
Autofluorescence bronchoscopy has a high sensitivity but low specificity for localization of pre-neoplastic lesions and early bronchial cancers. The previous pilot study showed that the addition of a point laser Raman spectroscopy (LRS) measurement increased the specificity to over 90 per cent for differentiating high grade dysplasia and carcinoma in situ from benign lesions with little loss in sensitivity.
The current study builds on the initial success of the pilot study, by expanding the sample size to 267 additional measurement sites (from 129 in the pilot study) using the 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. The current study found that the sensitivity and specificity of the new generation system remain similarly high with the larger sample cohort with an increase in specificity and only a slight reduction in sensitivity as previously found.
The principle investigators of the study are Dr. Stephen Lam, chair of the Lung Tumor Group at BC Cancer Agency, and Dr. Haishan Zeng, senior scientist at the BC Cancer Agency's Integrative Oncology Department. Dr. Lam will also be chairing the session at SPIE Photonics West 2013 where the results will be presented by Dr. Zeng.
"This confirmation of the results of the pilot study is an important step towards our efforts to commercialize the Verisante Core™," said Thomas Braun, President and CEO. "We can now begin to move towards obtaining regulatory approval for our lung cancer application that has the potential to improve patient outcomes and access the $5 billion per year medical endoscope market."
The technology behind the Verisante Core™ for Lung Cancer detection was also named a Top Ten Cancer Breakthrough earlier this year by the Canadian Cancer Society.
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 a finalist for the 2011 Regional Awards for New Technology by the Canadian Manufacturers & Exporters and the National Research Council of Canada and named as the year's top ranking Technology and Life Sciences Company on the TSX Venture 50.
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.