VANCOUVER, BRITISH COLUMBIA--(Marketwire -07/25/12)- Verisante Technology, Inc. (VRS.V)(VRSEF)(V3T.F) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today that the Company has accepted delivery of two initial pre-production units of the Verisante Aura™, an innovative skin cancer detection device, from StarFish Medical Inc.
The units will be used for final usability and safety testing before commercial production begins by the end of the year. The Company also continues to work closely with Clarion Medical Technologies Inc., the exclusive Canadian distributor of Aura™, in preparing for the product launch in Canada once production begins.
At an independent meeting of leading skin specialists earlier this year in Toronto, Dr. Andrei Metelitsa from Calgary made a brief presentation on Verisante Aura™ and this was followed up with an anonymous electronic survey of the participants. "Over half of the doctors indicated they would purchase a device," said Dan Webb, CEO of Clarion. "Clarion is ready to bring this life saving technology to medical professionals across the country, with our preliminary market research showing great interest in Aura™."
Thomas Braun, President and CEO of Verisante Technology, Inc. said the Company continues to meet expected milestones for this year as it moves closer towards full commercialization of Aura™. "In collaboration with our sales, marketing and manufacturing partners, we are committed to a steady and measured roll out of Aura™ into the markets where we have approval to sell," said Braun.
Aura™ has been approved for sale in Canada, Europe and Australia. Verisante is continuing regulatory efforts to obtain approval to sell Aura™ in Mexico, Brazil and the United States, while also continuing the product development of its Core™ series of products. The Core™ series utilizes the same platform technology as the Aura™ for the early detection of cancers of the lung, colon and cervix.
Verisante Aura™ 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. Aura™ is a non-invasive optical system that uses Raman spectroscopy to biochemically analyze the skin, providing immediate and accurate results. The device will help to automate the current process of diagnosis, allowing rapid scanning of the 20 to 40 skin lesions on at-risk individuals, improving patient outcomes and comfort.
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. When detected and treated in late stages, the survival rate decreases to 15 per cent, while the cost to treat it increases to $170,000.
To view current photos of the pre-production units, visit the Company's Facebook page at: www.facebook.com/verisante.
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 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 Aura™ has been approved for sale in Canada, Europe and Australia. The Core™ has not yet been approved for sale.
Verisante Aura™ was recently awarded Popular Science Magazine's "Best of What's New Award" for 2011, and Verisante Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society. In addition, the Company was named a finalist for the 2011 Regional Awards for New Technology by the Canadian Manufacturers & Exporters and the National Research Council of Canada and named as the year's top ranking Technology and Life Sciences Company on the TSX Venture 50.
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.
- skin cancer