TORONTO, ON and BALTIMORE, MD--(Marketwire - February 14, 2013) -
Medifocus, Inc. (OTCQX: MDFZF
), (TSX VENTURE: MFS
or the Company
), a commercial stage, revenue producing biotechnology company focused on the use of focused microwave for the development and commercialization of minimally invasive systems for the treatment of cancerous and benign tumors, announced today that it was recognized as a 2013 TSX Venture 50® company in the category of Technology and Life Sciences.
The TSX Venture 50® is comprised of the top ten emerging companies listed on the TSX Venture Exchange, in each of the five major industry sectors -- Clean Technology, Diversified Industries, Mining, Oil & Gas and Technology & Life Sciences -- based on a ranking formula giving equal weighting to market capitalization growth, share price appreciation, trading volume and analyst coverage. All data was as of December 31, 2012.
"It is an honour to be named as part of this year's TSX Venture 50®," said Dr. Augustine Y. Cheung, President and CEO of Medifocus. "Our listing on the TSX Venture Exchange has provided us with an excellent forum to reach our stakeholders and meet our goals."
About Medifocus, Inc.
Medifocus develops and commercializes minimally invasive, unique focused heat treatment systems used in treatment of cancerous and benign tumors, and enlarged prostate, or Benign Prostatic Hyperplasia ("BPH").
The Company owns two technology platforms with comprehensive US and international patent protection: The "Endo-thermotherapy Platform" and the "Adaptive Phased Array Microwave Focusing Platform." Based on these platform technologies, the Company has developed two advanced therapeutic products: the Prolieve® system for the treatment of BPH, and the Adaptive Phased Array (APA)-1000 system for treatment of breast cancer.
The U.S. FDA-approved Prolieve® System (www.prolieve.com) is a medical device based on endo-thermotherapy that both heats the prostate and dilates the prostatic urethra. The heating plus dilatation treatment offered by the Prolieve® System is the only minimally invasive treatment which offers both immediate and long term relief of symptoms due to enlarged prostate (BPH) in men. The clinical indication received for Prolieve® from the FDA is an "alternative to drug therapy." With this indication, the Prolieve® System is a revenue generating device based product which can have the potential of catering to the $8 billion non-surgical prescription drug therapy market for treatment of BPH.
The APA-1000 uses precisely focused and controlled microwave energy to shrink breast cancer tumors without side effects on the surrounding tissues to produce better treatment outcomes. The Company has received regulatory approvals to complete, and has now begun the APA 1000's pivotal Phase-III clinical trials. Successful completion of the Phase III trial will lead to commercial approval (PMA) of the product.
The Company is currently focusing on increasing revenue from the Prolieve® system for the treatment of BPH and completing the APA 1000 breast cancer system's Phase III study. For more information, visit www.medifocusinc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.