COLUMBIA, MD and TORONTO--(Marketwire - February 25, 2013) -
Medifocus Inc. (OTCQX: MDFZF
) (TSX VENTURE: MFS
) is pleased to announce it has obtained a newly allowed patent to add to its extensive intellectual property portfolio of over 100 issued and/or pending US and foreign patents covering its two platform technologies for the treatment of breast, rectal, ovarian cancer and prostate diseases.
This patent was granted on February 12, 2013 by the United States Patent and Trademark Office (USPTO) to John Mon, Chief Operating Officer of Medifocus, and Dr. Alan Fenn, and has been assigned to Medifocus. The title of the patent is "Drug Delivery" and is a method and apparatus for the treatment of tissue adjacent to a bodily conduit by "thermocompression" and drug-encapsulated within a heat-sensitive carrier, such as a liposome, within a region of the tissue to be treated.
Medifocus' Prolieve® Thermodilatation System is currently used for the treatment of enlarged prostate, or Benign Prostatic Hyperplasia ("BPH"). This new patent allows the Prolieve® Thermodilatation System to be used in conjunction with cancer drugs encapsulated within heat-sensitive carriers to treat prostate cancer, as well as other cancers.
Augustine Cheung, Chief Executive Officer of Medifocus, Inc., commented, "This patent expands the potential use of the Prolieve® Thermodilatation System beyond treating BPH, from a commercial perspective. Now, the opportunity, subject to regulatory approval, to utilize our existing Prolieve® technology as a means of drug delivery for prostate cancer significantly expands the technology's market potential."
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.
Forward-Looking Statements and Information
This news release contains "forward-looking statements" and "forward-looking information", which may not be based on historical facts. Forward-looking statements and forward-looking information, include, but are not limited to, information and statements with respect to the benefit to Medifocus's future growth resulting from the acquisition of additional intellectual property rights, additional treatment possibilities and the expectation that sales from Prolieve® may accelerate as a consequence. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Such forward-looking statements and forward-looking information involve known and unknown risks, uncertainties and other factors that may cause the actual results events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements or forward-looking information. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements and forward-looking information. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments.
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.