COLUMBIA, MD and TORONTO--(Marketwire - October 04, 2012) -
Medifocus Inc. (OTCQX: MDFZF
) (TSX VENTURE: MFS
) is pleased to announce it will attend and has reserved booths at two upcoming Regional Sectional AUA meetings, the first of which will have an exhibit booth at the Western Section AUA at the Hilton Waikoloa Village Resort & Spa in Honolulu, HI. (October 7-12, 2012). The company will also have an exhibit booth at the North Central Section AUA in Chicago, IL. This conference will be held at Swissotel Chicago (October 10-13, 2012).
In addition to the previously announced purchase of all the Prolieve® business assets from Boston Scientific Corporation (BSX), last week Medifocus announced the hiring of the Prolieve® management team from BSX. The Prolieve® device is approved by the FDA for the treatment of Benign Prostatic Hyperplasia (BPH). With the Prolieve® management team in place, the company is immediately initiating an aggressive marketing campaign, beginning with the attendance of the two AUA meetings mentioned. The reasoning behind this is to inform many of the past Prolieve® users that Medifocus will continue the sales, marketing and support of the Prolieve® device and that the Rocky Mountain Mobile Services, which is also part of the Prolieve® Asset Purchase by Medifocus, will continue to provide turnkey, mobile Prolieve® services and is fully up and running.
Prolieve® is a patent-protected device that utilizes intra-cavitary catheters to deliver a combination of microwave heating and balloon dilatation of the prostatic urethra, which leads to the relief of BPH symptoms. Treatment with Prolieve® is a minimally invasive non-surgical in-office procedure which offers patients clinically documented immediate reduction of BPH symptom scores. Prolieve® is the only microwave device to be randomized to drug therapy during its pivotal trial. The BPH drug market is an $8 billion dollar market and growing. BPH patients can be treated using Prolieve® in urologic offices throughout the United States. In addition, the Prolieve treatment is also made available to physicians using a nationwide mobile service provider, Rocky Mountain Mobile Services, which was part of the asset purchase.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the proposed transactions and neither of the foregoing entities has approved or disapproved of the contents of this press release.
Medifocus owns a patented microwave focusing technology platform (the Adaptive Phased Array ("APA") technology), which can precisely target and control microwave energy to cause heating in cancerous tumors anywhere in the body reliably and repeatedly. The ability to target tumors with a precision controlled dose of heat can be used to destroy tumors at higher temperatures, to treat tumors in combination with chemotherapy and/or radiation at moderate temperatures for increased effectiveness and reduced toxicity and to trigger the targeted release of therapeutic drugs and genes at tumor sites at lower temperatures. While the core technology has been licensed from the Massachusetts Institute of Technology, Medifocus has further refined the precision of the microwave focusing and control ability and developed a commercial system dedicated exclusively for the treatment of Breast Cancer.
With the acquisition of Prolieve, Medifocus now owns a revenue generating commercial BPH heat treatment product generating cash flow to support the development and commercialization of other catheter based or APA based external focused heat systems for targeted thermotherapy of deep seated tumors anywhere in the body. Please visit www.medifocusinc.com for more details.
Forward-Looking Statements and Information
This news release contains forward-looking statements, which may not be based on historical facts. Such forward-looking statements 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. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. 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 contained herein to reflect future results, events or developments.