Vancouver, B.C. and Boston, MA, December 8, 2016 – Imagin Medical (CSE: IME) (OTC PINK: IMEXF) (Frankfurt/Stuttgart Stock Exchanges: DPD2) (the “Company”) announced today that it is partnering with Optel, Inc., an optical product design firm located in Rochester, New York, to design the i/Blue Imaging System for manufacturability and commercialization.
Optel works with its customers to bring state-of-the-art, optics-based medical devices and other products from concept through design, validation and into manufacturing. The company has extensive experience in design for manufacture, miniaturization of optical systems, and the integration of optics, mechanics, electronics and software into user friendly, cost effective products. Consequently, Optel is uniquely qualified to redesign Imagin’s i/Blue Alpha B prototype with the goal of achieving higher imaging performance in a product only 30% the size of the prototype, enabling the i/Blue system to be used as a mobile device that can be easily moved between different operating rooms and physicians’ offices. The product will be highly manufacturable and cost effective, with a modular design that will become a basic platform for Imagin’s current and future imaging systems and applications.
Jay Eastman, Optel’s founder, received his B.S. and Ph.D. in Optics from the of the University of Rochester and has held positions at its Laboratory of Laser Energetics (LLE), where development of the i/Blue System Alpha B prototype was completed. Mr. Eastman is the inventor or co-inventor on 44 issued U.S. patents. His academic and professional history with the University of Rochester LLE is one of the key advantages of working with Optel to launch the product.
Critical to Imagin Medical, Optel will ensure that the i/Blue system will be in compliance with the requirements of the FDA, Good Manufacturing Practices (GMP), European medical device standard ISO 13485 and other international compliance requirements.
Jim Hutchens, Imagin’s President and CEO, commented “Consolidating the product development into the Rochester, NY area, coupled with the strong relationships that have been built among Imagin’s engineering team, Dr. Demos, the product’s inventor, and Optel, are major advantages in driving the project forward.”
About Imagin Medical
Imagin Medical is developing imaging solutions for the early detection of cancer through the use of endoscopes. The Company believes it will radically improve the way physicians detect cancer. 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.imagindev.wpengine.com.
ON BEHALF OF THE BOARD:
President & CEO
For further information, contact:
Bill Galine, Investor Relations
Telephone: (775) 737-3292
Email: [email protected]
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. 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.