VANCOUVER, B.C. / BOSTON, March 16, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Imagin Medical Inc. (CSE: IME) (OTCQB: IMEXF) (Frankfurt & Stuttgart Symbol: DPD2) (“Imagin” or the “Company”) today reported continued progress towards commercial-stage manufacturing capability with Lighthouse Imaging (“Lighthouse”).
Prior to Imagin’s selection of Lighthouse as its contract manufacturer for the i/Blue Imaging System™ in October 2020, the Company received multiple fully functional feasibility units from its original design partner, Optel, Inc. Lighthouse’s development program has since focused on further refining the design to support Imagin’s submissions to the U.S. Food and Drug Administration and to ensure final device performance, compliance with all applicable regulatory standards, and optimal manufacturability to meet both cost targets and anticipated user demand.
“We chose Lighthouse because of its accomplished history of taking innovative products like our i/Blue System and applying its cross-functional expertise in optics, electronics, software and mechanical design to move into commercial manufacturing,” commented Mike Vergano, Imagin’s Director of Engineering and Quality. “We have not been disappointed. The Lighthouse team’s work to-date has been exceptional, and we look forward to that continuing.”
“As previously reported, the impact of the COVID-19 pandemic in 2020 altered our product timeline by approximately nine months, moving expected completion into 2022,” said Jim Hutchens, Imagin’s President and CEO. “The good news is that Lighthouse’s program has stayed on schedule and we expect it to remain on target going forward.”
About Imagin Medical
Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The Company believes its first product, the i/Blue™ Imaging System, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates. The Company’s initial focus is bladder cancer. Learn more at www.imaginmedical.com.
Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward- looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Specifically, there is no assurance the Company’s imaging system will work in the manner expected. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
President & CEO
Los Angeles, California