Ventripoint Has Been Approved for Government Support to Aid
in the Extension of VMS Technology to Provide 4D Data
Toronto, Ontario, November 14, 2018 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT) is pleased to announce that it has entered into a Contribution Agreement with the Government of Canada. The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) will provide both advisory support and conditional funding to share the costs of a project designed to accelerate the further development of the Ventripoint VMS+ system’s next-generation products.
The goal of the project is to extend the current technology for advanced visualization extracted from 2D ultrasound images of the heart to construct and visualize 4D from 2D ultrasound images. 4D is the real time display of the beating heart in a 3-dimensional view, with quantification of the movements as well as 2D measurements. The project also aims to include the addition of advanced measurements for Wall Motion Velocity and Left Ventricle Mass, to further aid the clinician in assessing the cardiac disease state.
Currently, 4D products are available in the marketplace and while they have improved significantly, they still are only able to get useable images in 60% of people for the basic heart analysis and, therefore, are only used for research purposes. The VMS+ system’s accuracy matches that of the MRI, the gold standard, providing a significant opportunity for the unique 4D VMS+ system in the market.
For the clinician, the Ventripoint solution of 4D display will provide additional information about the motion of the different chambers of the heart throughout the cardiac cycle, quickly and reliably. The provision of both quantitative and qualitative information essential for complete assessment of the cardiac condition is the major goal of this project.
In other news, Ventripoint announces that it has entered into a business development contract for a term of six months. Under the contract, and subject to the approval of the TSX Venture Exchange, the Company will pay the consulting fee of US$150,000 with common shares at the end of the contract term, with the number of common shares being determined with reference to the market price at the time of issuance.
About Ventripoint Diagnostics Ltd.
Ventripoint’s technology is a leading Artificial Intelligence (AI) approach known as Knowledge-Based Reconstruction (KBR), used to create applications to monitor heart disease, a leading cause of death worldwide. The VMS+ is the first cost-effective and accurate AI tool for measuring whole heart function using conventional ultrasound. The Company has developed a suite of applications for all major heart diseases and is actively commercializing the approach to improve cardiac care.
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