VANCOUVER, BC and BOSTON, MA--(Marketwired - March 07, 2018) - Imagin Medical (CSE: IME) (OTC PINK: IMEXF) (FRANKFURT: DPD2) (STUT: DPD2) (the "Company"), announced today that the Company expects the Proof of Concept phase of the prototype re-design for manufacturing to be completed on schedule for this coming May.
As reported, Optel, Inc., Imagin's opto-electronic design firm, is working against three phases of development: Proof of Concept, Functional Unit and Verified Unit. The Proof of Concept effort is intended to benchmark the performance metrics of the i/Blue System's two key components -- the high-power LED based illumination module and the multi-channel imaging module -- against the performance of the i/Blue prototype currently being used in a research study at the University of Rochester, and the performance of various FDA approved light-based products.
Jay Eastman, Optel's CEO stated, "The prototype high current LED controller for the i/Blue illumination module has been tested and performs well above expectations. We will build the pre-production version of the prototype board and have it ready for the Proof of Concept testing in May. The prototype optical mechanical is nearing design completion and should be out for fabrication later this month."
The next step in the proof of concept effort will address the design and prototyping of the i/Blue imaging module which provides separate imaging channels for white light viewing of the interior of the bladder through a traditional cystoscope and near infrared imaging of the Protoporphyrin IX fluorescence emitted by a tumor in the bladder. The imaging module will utilize state-of-the-art optics, filters and cameras to simultaneously image and display both the white light and near infrared imaging channels. Optel has substantial experience in the design of similar miniaturized optical systems and has high confidence the imaging module will also be ready to meet the May Proof of Concept milestone.
"We're excited to reach this first phase in the redesign which keeps us on track as the research study at the university of Rochester Medical Center progresses," said Jim Hutchens, Imagin's President and CEO.
The University of Rochester Medical Center's research study using the Company's i/Blue Imaging System continues to recruit patients, refine the prototype per procedure, work to validate bench-testing results and prove human feasibility.
About Imagin Medical
Imagin Medical is developing imaging solutions for the early detection of cancer during minimally invasive surgeries. The Company believes it will radically improve the way physicians detect cancer where endoscopes are used. Imagin's initial target market is bladder cancer, a major cancer worldwide, the sixth most prevalent in the U.S., and the most costly cancer to treat due to a greater than 50% recurrence rate. Developed at the Lawrence Livermore National Laboratory, this advanced, ultrasensitive imaging technology is based upon improved optical designs and advanced light sensors. Learn more at www.imaginmedical.com.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Specifically, there is no assurance the Company's imaging system will work in the manner expected, except as required under applicable securities legislation; the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
For further information, contact:
Jim Hutchens
President & CEO
Telephone: 617-571-6006
Email: jhutchens@imaginmedical.com
U.S. HQ:
69 Longwood Avenue
Hyannis Port, MA 02647
USA
617-571-6006
CA HQ:
890 West Pender Street,
Suite 600 Vancouver, British Columbia
Canada V6C 1J9
778-998-5000; 604-687-1327 (fax)
NR-2018-IME-#013
