"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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