Verisante Technology, Inc. (Formerly known as T-Ray Science) Obtains Australian Approval
"After Canadian and European approval earlier this quarter, obtaining Australian approval completes the Company's regulatory goals for 2011," said Thomas Braun, President and CEO. "In Australia, access to quick, accurate information to aid skin cancer diagnoses is absolutely essential."
According to the Australian Government Department of Health, Australia has the highest skin cancer incidence rate in the world, at nearly four times the rates in Canada, the US and the UK. And thirteen times the global average. Australians are also four times more likely to develop a skin cancer than any other form of cancer, and approximately two in three Australians will be diagnosed with skin cancer before the age of 70.
Furthermore, general practitioners (GP) in Australia have more than 1 million patient consultations per year for skin cancer. GP consultations to treat non-melanoma skin cancer increased by 14% between 1998-2000 and 2005-2007 - from around 836,500 to 950,000 visits each year, or more than 2,000 skin cancer patient visits per day.
Verisante Aura is indicated for use for the evaluation of skin lesions that may be clinically suspicious for melanoma, squamous cell carcinoma and/or basal cell carcinoma when a medical professional chooses to obtain additional information to rule out one of the above conditions before making a final decision to biopsy. Basal cell and squamous cell skin cancers together make up about 96 per cent of all skin cancers. While early detection of melanoma is critical due to its high mortality rate, it is also important to detect the most common skin cancers early in order to achieve the best results for patients.
Aura™ is a non-invasive optical system designed as a tool to aid medical professionals in the assessment of suspect skin lesions for diagnosis as either skin cancer or a benign disorder in less than two seconds. The device uses Raman spectroscopy to biochemically analyze the skin, providing immediate and accurate results. The Aura™ will help to automate the current process of diagnosis, allowing rapid scanning of the 20 to 40 skin lesions on at-risk individuals, improving patient outcomes and comfort.
About Verisante Technology, Inc.
Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura™ for skin cancer detection and the Verisante Core™ series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined on approximately 1,000 lesions at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians immediate results for many of the most common cancers. The Core™ has not yet been approved for sale.
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Forward Looking Statements
This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of medical devices, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contact:
Verisante Technology, Inc.
Thomas Braun
President & CEO
(604) 605-0507
info@verisante.com
www.verisante.com