VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/16/13 -- Verisante Technology, Inc. (TSX VENTURE: VRS)(OTCQX: VRSEF) (the "Company" or "Verisante"), a leader in cancer detection technology, announced that Clarion Medical Technologies Inc., the Company's exclusive distributor for Aura in Canada will be hosting an official Canadian product launch in Vancouver, B.C. for all interested dermatologists and medical professionals.
"We are excited to make Aura available to health care professionals and patients in Canada," said Dan Webb, President of Clarion. "The clinical study results have shown that the device will significantly improve diagnostic accuracy and the potential to reduce unnecessary biopsies, which will result in better outcomes for patients."
Final commercial systems of Aura have already been installed in Vancouver, Calgary, Edmonton and greater Toronto. Patients can contact these clinics directly to book an AuraScan today. Visit the Aura website at www.verisante.com/aura/patient for full contact information for the clinics.
"There is a global epidemic of skin cancer," said Dr. Jason Rivers, MD, FRCPC, clinical professor of dermatology at the University of British Columbia, regional director of the Canadian Dermatology Association's National Sun Awareness and Skin Cancer Prevention Program, and member of Verisante's Medical Advisory Board. "Education and awareness of skin cancer and routine screenings are extremely important in detecting skin cancer early, which saves both lives and healthcare costs." Dr. Rivers is co-principal investigator of the first national study on the sun protection habits of Canadians, was involved in a forum to create the UV index, and has published more than 135 articles and book chapters.
Skin cancer is the most common type of cancer and also one of the most preventable. Every year, over 80,000 cases of skin cancer are diagnosed in Canada with over 5,000 cases of melanoma. Early detection is key to saving the lives of melanoma patients because when melanoma is diagnosed and treated in the earliest stages, the survival rate is 99 per cent whereas in the late stages, the survival rate decreases to only 15 per cent. One in six Canadians will develop some form of skin cancer in their lifetime and at risk individuals are encouraged to have routine skin cancer screenings.
Aura is an objective diagnostic device that assists a medical professional to make a biopsy decision in under a second. The device can be used by any medical staff such as a trained nurse or technician under the supervision of a doctor.
The Company also announced an update of its operations, confirming that since announcing the sale of the first Aura devices on January 9, 2013, 9 units have been delivered, installed, or otherwise accounted for. In addition to the four units which were installed in clinics across Canada, a unit was installed with each of the Company's distributors in Berlin, Amsterdam and Zurich, with additional two units going to Clarion in Canada. Verisante anticipates production of 100 units of Aura in the first 12 months of manufacturing.
"Verisante has now met another major milestone with the delivery and installation of Aura devices As Aura is now in the hands of leading dermatologists across Canada and is being demonstrated to industry leaders in Europe, we anticipate being able to record material revenues in 2013," said Thomas Braun, President & CEO of Verisante. "As we continue to support the sales and marketing efforts of our distributors, the Company is also committed to supporting awareness and educational campaigns about the importance of early detection of skin cancer."
The Company also reported that of the 13,750,000 warrants from the Company's previous private placement which was completed in April, 2011, 7,151,875 warrants have been exercised for proceeds of $3,575,938 and 6,598,125 warrants have expired. The remaining 1,715,250 warrants outstanding were issued pursuant to Licensing Agreements.
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 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.
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. Aura has been approved for sale in Canada, Europe and Australia. The Core has not yet been approved for sale.
Verisante Aura was awarded Popular Science Magazine's "Best of What's New Award" for 2011, and awarded a 2013 Prism Award for Innovation in Photonics. Verisante Core was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society.
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.
Verisante Technology, Inc.
President & CEO
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