Imagin Medical Completes Assembly of i/Blue™ Imaging System Functional Unit
VANCOUVER, British Columbia and BOSTON, April 02, 2019 (GLOBE NEWSWIRE) -- Imagin Medical (CSE: IME) (OTCQB: IMEXF) (Frankfurt & Stuttgart Symbol: DPD2) (“Imagin” or the “Company”) today announced that it reached the first step of a major product development milestone with completion of the i/Blue Imaging System’s Functional Unit, which has successfully met the Company’s pre-established performance expectations.
Following the typical product development path for a new medical technology, the Company is working to move the i/Blue Imaging System through various progressive stages: original design, proof of principle prototype, functional system, pilot production, product validation and, finally, realized product for commercialization.
Today’s announcement confirms completion of the first step of the functional system stage, with both components of the Functional Unit - the System Control Unit and Dual Camera Handpiece - operating as anticipated to provide simultaneous high-resolution images in both blue and white light modes. The System Control Unit, which houses the previously verified light source, camera controller and power supply modules, is designed to work in conjunction with the Dual Camera Handpiece. Data from the previous Research Study conducted at the University of Rochester Medical Center was used to refine and optimize the technology for performance, size and cost, resulting in a current Functional Unit that is 70% smaller than the proof of principle prototype.
The final steps in the functional system phase include building additional units with enhanced software that will be verified for multiple functions - such as electrical safety, and reprocessing and sterilization - and completing simulated packaging and shipping activities. Imagin anticipates these critical milestones will be completed by mid-year, positioning the Company to initiate the pilot production and product validation stages.
“We are very pleased that the i/Blue Imaging System’s Functional Unit is performing as intended,” said Jim Hutchens, Imagin’s President and CEO. “We are currently conducting focus groups with urologists to optimize the software user interface and to meet precise functionality requirements.”
Mr. Hutchens continued, “We believe that the i/Blue technology’s many advantages, combined with product’s expected price point, have significant potential for bringing blue light cystoscopy into the mainstream standard of care for bladder cancer. We are excited to see the real promise of Imagin’s ground-breaking technology start to emerge and believe that it will drive significant value for our shareholders as we progress.”
About Imagin Medical
Imagin Medical is a surgical imaging company focused on establishing a new standard of care in visualizing cancer during minimally invasive surgeries. The Company believes its first product, the i/Blue™ Imaging System, will dramatically improve surgeons’ ability to visualize cancerous cells by producing higher-quality images more quickly compared with current methods. Based on advanced optics and light sensors, the i/Blue Imaging System employs patented ultrasensitive imaging technology and offers easy-to-use viewing options for more accurate resection. The Company’s initial focus is bladder cancer. Learn more at .
Forward-Looking Statements
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.
Contacts:
Stephen Kilmer, Investor Relations
Telephone: 647-872-4849
Email:
Jim Hutchens, President & CEO
Telephone: 833-246-2446
