Vancouver, B.C. and Boston, MA, May 21, 2020 – Imagin Medical (CSE: IME) (OTCQB: IMEXF) (Frankfurt & Stuttgart Symbol: DPD2) (“Imagin” or the “Company”) today announced that its contract design and development firm, Optel, Inc., has delivered the functional i/Blue™ Imaging Systems that will be used to conduct in vivo studies and virtual demonstrations for evaluation by leading urologists.
Two i/Blue System functional units were initially slated for a first-in-human study assessing the final product design. However, medical institutions have suspended the initiation of medical device clinical studies due to the COVID-19 pandemic. While Imagin will continue to pursue first-in-human studies when clinical trials are permitted to resume, potentially later this year, the Company is currently pursuing alternative, preclinical study options.
Other i/Blue functional units will be used for virtual investor presentation and private medical demonstrations and meetings to generate interest and obtain performance feedback.
Imagin was scheduled to meet with leading urologists to demonstrate i/Blue units at the annual American Urology Meeting originally scheduled for this month in Washington, D.C. The meeting has since been cancelled due to the COVID-19 pandemic and the Company has put alternative plans in place to host virtual meetings to exhibit the product’s features and performance, and to continue building relationships with key opinion leaders.
Jim Hutchens, Imagin President and CEO, said,
“Receiving these i/Blue Systems is an exciting milestone and a major step forward. While in-person meetings and demonstrations of our i/Blue system would have been ideal, we are fortunate to have technologies to enable virtual meetings that will allow us to move forward.”
About Imagin Medical
Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The Company believes its first product, the i/Blue™ Imaging System, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates. The Company’s initial focus is bladder cancer.
The COVID-19 outbreak has resulted in a widespread health crisis that has affected economies and financial markets around the world resulting in an economic downturn. The effects of this pandemic on the Company may include interruptions to supply chains, manufacturing activities and research and development programs and increased government regulations or interventions. The duration and impact of the COVID-19 outbreak is unknown at this time and it is not possible to reliably estimate the length and severity of these developments nor the impact of these developments on the financial results and condition of the Company in future periods.
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