VANCOUVER, BRITISH COLUMBIA--(Marketwire -11/16/11)- Verisante Technology, Inc. (TSX-V: VRS.V - News)(OTCQX: VRSEF.PK - News)(PINK SHEETS: VRSEF)(Frankfurt: V3T.F - News) (the "Company" or "Verisante"), a leader in cancer imaging technology, announced today that the editors of Popular Science magazine have named Verisante's Aura™ device for skin cancer detection as a top technology innovation of 2011, receiving one of the magazine's coveted "Best of What's New" Awards.
"For 24 years, Popular Science has honored the innovations that surprise and amaze us - those that make a positive impact on our world today and challenge our views of what's possible in the future," said Mark Jannot, Editor-in-Chief of Popular Science. "The Best of What's New Award is the magazine's top honor, and the 100 winners - chosen from among thousands of entrants - represent the highest level of achievement in their fields."
Thomas Braun, President and CEO of Verisante Technology, Inc., said Verisante is honored to be recognized by Popular Science as a company that is making revolutionary advancements in the detection of skin cancer.
"This award is a validation of the hard work and dedication of our employees, consultants, and partners who have come together to make the commercialization of this life-saving device possible," he said. "We are pleased that our commitment to innovation and the exceptional work done by the BC Cancer Agency to develop the Verisante Aura™ is being internationally recognized."
Early detection is key to saving the lives of melanoma patients and saving healthcare costs. When melanoma is diagnosed and treated in the earliest stages, the survival rate is 99 per cent and it costs about $1,800 to treat it. In the late stages, the survival rate decreases to 15 per cent, while the cost to treat it increases to $170,000. The Aura™ will aid medical professionals in the assessment of suspect skin lesions for diagnosis as either skin cancer or a benign disorder in less than two seconds.
Verisante Aura™, a non-invasive optical system, is indicated for use for the evaluation of skin lesions that may be clinically suspicious for melanoma, squamous cell carcinoma and/or basal cell carcinoma when a medical professional chooses to obtain additional information to rule out one of the above conditions before making a final decision to biopsy.
The Popular Science issue containing the winners of the Best of What's New Awards is now on sale.
About Best of What's New
Each year, the editors of Popular Science review thousands of products in search of the top 100 tech innovations of the year; breakthrough products and technologies that represent a significant leap in their categories. The winners - the Best of What's New - are awarded inclusion in the much anticipated
December issue of Popular Science, the most widely read issue of the year since the debut of Best of What's New in 1987. Best of What's New Awards are presented to 100 new products and technologies in 11 categories.
About Popular Science
Founded in 1872, Popular Science is the world's largest science and technology magazine; with a circulation of 1.3 million and 6.8 million monthly readers. Each month, Popular Science reports on the intersection of science and everyday life, with an eye toward what's new and why it matters.
About Verisante Technology, Inc.
Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura™ for skin cancer detection and the Verisante Core™ series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined on approximately 1,000 lesions at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians' immediate results for many of the most common cancers. The Core™ has not yet been approved for sale.
Forward Looking Statements
This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of medical devices, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.