VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/07/13 -- Verisante Technology, Inc. (TSX VENTURE: VRS)(OTCQX: VRSEF)(FRANKFURT: V3T) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today it has entered into an exclusive agreement with Frontiere Medicale EUROPE LLC. ("Frontmed") to distribute Verisante Aura in the UK and Ireland.
"Frontmed is a very successful distributor of medical devices in the UK," said Thomas Braun, President & CEO of Verisante. "Frontmed has extensive knowledge of the market for dermatological and skin care devices, and a breadth of experience in facilitating the market penetration of new technologies. Frontmed will distribute Aura and also support technical training and servicing throughout the UK and Ireland."
Frontmed is based in London and Paris and specialises in the distribution of new technologies through rapid market access via strategic market entry. Frontmed currently distributes aesthetic lasers for treatment of a variety of skin conditions.
"Skin cancer rates continue to rise in the UK and Ireland year over year," said Daniel Krelle, Co-Founder of Frontmed. "Aura's impressive clinical study results show it can quickly and accurately assist in diagnosing all the major forms of skin cancer, including melanoma, basal cell carcinoma and squamous cell carcinoma. Aura should be welcomed by doctors and clinics across the UK and Ireland as an additional tool to assist in the biopsy decision."
The European medical device market is the second largest in the world, worth over $78 billion and representing 30 per cent of the world market - second only to the United States. The UK and Ireland together have a population of over 70 million people, and over 650 dermatologists serving the UK & Ireland countries in this region.
A study conducted by Norfolk and Norwich University Hospitals NHS Foundation Trust and Eastern Cancer Registration Centre in Cambridge found that skin cancer could be twice as prevalent as previous government estimates, with incidences of Basal Cell Carcinoma (the most common form of skin cancer) having increased by 80% over the last decade. Cancer Research UK has also reported that during the last thirty year period, incidence rates of malignant melanoma in Great Britain have increased more rapidly than any of the current ten most common cancers in both males and females.
According to the Irish Cancer Society, because of their skin type, two-thirds of Irish people are at a high risk of developing skin cancer while Ireland ranks among the highest skin cancer rates in Europe. The rate of skin cancer in Ireland has almost doubled over the past 10 years.
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 Frontmed Trading Ltd.
Frontmed is a privately owned medical device distributor with over 25-years experience in the UK Health Sector. Frontmed delivers rapid market access for newly commercialized technologies.
Specialists in strategy development, brand management, sales & marketing, of technologies that represent a dynamic evolution to the status quo (disruptive technologies).
"Aura fits our portfolio perfectly. In Great Britain, many thousands of unnecessary biopsies are performed every year due to inadequate diagnosing capability. Aura, represents a new opportunity to reduce unnecessary biopsies, as well as improve the confidence to biopsy lesions that ought to be. Potential savings to Healthcare providers are enormous" - Daniel Krelle.
For more information on Frontmed, and our trusted partners, visit the Company's website at http://www.frontmed.org
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, awarded a 2013 Prism Award for Innovation in Photonics and an Edison Award for Excellence in Innovation in 2013. 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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