Vancouver, B.C. and Boston, MA, March 2, 2017 – Imagin Medical (CSE: IME) (OTC PINK: IMEXF) (Frankfurt/Stuttgart Stock Exchanges: DPD2) (the “Company”) announced today that the Company and Optel, Inc., its product design partner, have achieved the first steps of their plan for the manufacture and commercialization of the i/Blue™ Imaging System. The Company is working against the key milestones outlined below.
Proof of Concept: Underway – Overall objective is to reduce the size of the current prototype by 70% and create it as a mobile product that can be moved easily between different operating rooms. The platform will include four primary modules: illumination, imaging, image processing, and the power supply. Each module is currently being prototyped to verify that performance meets and/or exceeds specifications. The Company expects the modular platform to be the basis of its future systems.
Design and Construction of Pilot Production Device: 3Q 2017 – The device enclosure will house the four basic modules and be compatible with either cart or rack mounting and a touchscreen display located on its exterior to serve as the graphical user interface.
Verification and Validation Testing: 4Q 2017 – All verification and testing will be conducted in accordance with the requirements of the FDA’s Good Manufacturing Practices (GMP), the European medical device standard ISO 13485 and generally in accordance with other international medical device compliance requirements.
“Optel’s experience and success in the optical medical device field, combined with the capabilities of our development team, gives me confidence that we will achieve our goals on schedule,” commented Jim Hutchens, Imagin’s President and CEO.
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.