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Medicsight (MSHT.OB) Receives Brazilian State Food and Drug Administration Approval for ColonCAD Software


8/7/2008 9:24:02 AM

NEW YORK, Aug. 7 /PRNewswire-FirstCall/ -- Medicsight PLC, a subsidiary of MGT Capital Investments, Inc. , and an industry leader in the development of Computer-Aided Detection (CAD) and image analysis software, today announced that it has received approval from the Brazilian regulatory agency, Agencia Nacional de Vigilancia Sanitaria ("ANVISA"), for its ColonCAD(TM) software.

David Sumner, Chief Executive of Medicsight, commented: "This is another important milestone for Medicsight and our partners as we commercialize our technology globally. This regulatory approval in the dynamic Latin American market is another approval in a high growth BRIC market, following on from the Chinese State Food and Drug Administration approval announced in April."

Dr. Stuart Taylor of University College Hospital, London, a principal investigator for Medicsight, commented: "The approval of Medicsight's ColonCAD(TM) software is great news for patients. It will also be a bonus for radiologists, whose workload is growing rapidly, both due to the rising prevalence of colorectal cancer and the advances in imaging technology which have led to a substantial increase in the amount of image data that must be reviewed for each patient scan. Medicsight's technology can help to ease this burden, potentially reducing human error and also providing a valuable tool, especially for less experienced readers, to interpret these complex scans.

"Medicsight's CAD software has been validated against one of the world's largest and most population diverse proprietary databases of verified CT scan data, making the software applicable to patients of many different nationalities," concluded Dr. Taylor.

Medicsight's ColonCAD(TM) computer-aided detection technology aims to assist radiologists in the detection of colorectal neoplasia (polyps) by automatically highlighting suspicious areas on CT colonography scan images. The software may also help radiologists detect potentially malignant tumours at an early stage when treatment is most likely to be successful.

About MGT Capital Investments, Inc.

MGT Capital Investments, Inc. is a technology holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight PLC and Medicexchange PLC.

Medicsight PLC (AIM: MDST) is a UK-headquartered, research driven, leading developer of computer-aided detection (CAD) and image analysis software for the medical imaging market. The CAD software automatically highlights suspicious areas on computerised tomography (CT) scans of the colon and lung, helping radiologists to identify, measure and analyse potential disease and early indicators of disease. Medicsight's CAD software has been validated using one of the world's largest and most population diverse databases of verified patient CT scan data. Medicsight's ColonCAD(TM) and LungCAD(TM) software products are seamlessly integrated with the advanced 3D visualisation workstations of several industry-leading imaging equipment partners.

Medicexchange PLC provides medical imaging professionals with a global web portal containing an online sales, jobs and information channel for diagnostic, treatment and surgery planning solutions. This combined with a variety of relevant clinical papers, training materials and content gives these professionals access to information and products that they otherwise would have difficulty accessing.

Additional information can be found at www.mgtci.com.

All forward-looking statements are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in company filings with the Securities and Exchange Commission.

CONTACT: Investor & Media enquiries: Todd Fromer, +1-212-896-1215,
tfromer@kcsa.com, or Garth Russell, +1-212-896-1250, grussell@kcsa.com,
both of KCSA Strategic Communications, for MGT Capital Investments, Inc.

Web site: http://www.mgtci.com/


Read at BioSpace.com

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