Vancouver, B.C. and Boston, MA, June 9, 2016 – Imagin Medical (CSE: IME) (OTC PINK: IMEXF) (Frankfurt/Stuttgart Stock Exchanges: DPD2) (the “Company”) announced today that it has signed a Collaborative Research Agreement with the University of Rochester Laboratory of Laser Energetics (LLE) and the U.S. Department of Energy (D.O.E.) that will facilitate the development of the i/Blue Imagining System.
Dr. Stavros Demos, the product’s inventor, recently joined the LLE which was established in 1970 and has become an internationally known resource for research and education in science and technology. A pioneer in university/industry collaborations, LLE employs over 300 engineers and scientists with a recognized expertise in laser, optics and the interaction of light with matter.
Dr. Demos will continue to provide support to Imagin’s development team. As previously announced, the Company’s goal at LLE is to build the initial prototype developed at the Lawrence Livermore National Laboratory (LLNL) and continue to refine the product’s design, requalifying the system’s optical model, components and advanced light sensors. These next generation products will be used for clinical trials, regulatory submission and eventual commercial distribution.
Additionally, Imagin Medical has signed a Loan Agreement with the D.O.E. that has granted Imagin permission to move the original prototype from LLNL to LLE. This prototype is now in the hands of the development team at the University of Rochester.
“We couldn’t be more pleased to have these agreements in place and proceed with LLE,” said Jim Hutchens, Imagin’s President and CEO. “We are now full steam ahead with the development of the i/Blue Imaging System and, with LLE’s support, will be in position to progress through clinical trials, regulatory submission and eventual commercial distribution.”
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. 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:
Jim Hutchens,
President & CEO
For further information, contact:
Bill Galine, Investor Relations
Telephone: (775) 737-3292
Email: [email protected]
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This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
