Ventripoint Provides Corporate Update on Development of Next-Generation Products
Toronto, Ontario, August 8, 2018 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT) is pleased to present an update on its progress to provide better tools for cardiac analysis to cardiologists to improve diagnosis and treatment of heart disease.
Hardware upgrades to lower cost and improve usability: The Company previously announced (see NR, Nov 11, 2017) the invention of a small, low-cost device that attaches to, or is encased in, any hand-held ultrasound probe and tracks the probe’s position and orientation in 3-dimensional space. The Company is pleased to report that it has used this technology to build a prototype of the next-generation VMS+ heart analysis system. This new device (VMS+ 3.0) is undergoing final testing and development to verify its performance. The new design eliminates the need for patients to remain motionless during image acquisition and improves the workflow of the VMS+ through a more intuitive user interface. The VMS+ 3.0 also will allow the Company to provide the VMS+ inexpensively to customers and charge for the reconstruction of the study. This subscription model is the trend in imaging studies as it becomes more cost effective to outsource the analysis than to maintain the expertise to analyze difficult and technically-challenging cases, especially in small and medium-sized centres. The Company intends to offer both a capital purchase as well as the subscription option to customers starting in 2019.
New Intellectual Property (IP): The Company has been working to build a robust IP portfolio. A provisional patent application was filed with the United States Patent and Trademark Office. The invention relates to a small handheld diagnostic image system that incorporates one or more position sensors to collect position data with the diagnostic image data of an organ. The position data is associated with the diagnostic image data to identify reference points in the organ to construct a three-dimensional model of the organ including measurement data. This invention is aimed at the point-of-care market where ultrasound is viewed on smart phones or other smaller devices. The invention embodies a way to rapidly analyze these images which would allow for correct interpretations of the data. The use of POC ultrasound is the trend in medical imaging as better handheld system become available.
Annual General Meeting
The Company will hold its Annual General Meeting on August 13th at its corporate offices in Toronto. The prototype of the new VMS+ 3.0 will be available for viewing. More details are included in the circular, which has been mailed to shareholders of record.
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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FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address Ventripoint’s expectations, should be considered forward-looking statements. Such statements are based on management’s exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. The Corporation undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.