Business Update
July 18 2007 - 3:01AM
UK Regulatory
RNS Number:4159A
Medicsight Plc
18 July 2007
Press Release 18 July 2007
Medicsight Plc
("Medicsight")
Recent developments
Medicsight Plc (AIM: MDST), industry leader in the development of Computer-Aided
Detection (CAD) and image analysis software which assists in the early detection
and diagnosis of disease, today announces a number of recent developments that
have occurred surrounding the Company's recent admission to the AIM market.
Regulatory approvals
On 4 June Medicsight CE marked MedicRead Colon 1.0 and ColonCADTM API 3.2. CE
marking indicates conformity with the essential safety requirements set out in
the European Medical Device Directives.
On 5 July Medicsight was granted medical device licences from the Therapeutic
Products Directorate of Health Canada to begin marketing and selling Medicsight
MedicRead Colon 1.0 in Canada.
Commercial Partnerships
Medicsight distributes its products through partnerships with some of the
leading 3D visualisation equipment manufacturers. Medicsight has recently
reinforced its global distribution capability and relationships with three key
partners, Vital Images Inc., Viatronix Inc., and Terarecon Inc, and in addition
signed a new global contract with Barco N.V.
The Viatronix global contracts have been re-signed to improve commercial terms
and practical business arrangements.
The new global contract signed with Barco, a leading provider of enterprise-wide
3D advanced visualization solutions, will enable Medicsight's ColonCADTM image
analysis software tools to be distributed with Barco's 3D visualization products
and through the Picture Archiving and Communication Systems (PACS) offered by
Barco's partners.
These contracts will allow Medicsight and its current partners to accelerate
penetration into the growing CAD market. The total installed base opportunity of
these Medicsight partners is over 7,500 CT workstations & licences.
Conference participation
Medicsight has showcased its CAD software at the following radiology conferences
this year:
* 9-13 March 2007, Professor Steve Halligan of University College Hospital,
London, and Dr. David Burling of St. Mark's Hospital, London gave
presentations on Medicsight CAD technology at the European Congress of
Radiology, Vienna
* 13-15 April 2007, Medicsight and Toshiba co-sponsored the first CT
Colonography training workshop at the Japan Radiological Society in
Yokohama, Japan
* 12-15 June Professor Steve Halligan, Dr Stuart Taylor of University
College Hospital, London and Dr. David Burling gave presentations on
Medicsight CAD technology at the European Society of Gastrointestinal
and Abdominal Radiology, Lisbon
David Sumner, CEO of Medicsight, commented "We're delighted to have achieved
these significant milestones during and since our successful debut on the AIM
market. These are of particular value as we continue to successfully market our
innovative world leading CAD software with partners across all global markets."
- ENDS -
For further information:
Medicsight plc
David Sumner +44 (0)20 7605 7950
www.medicsight.com
Collins Stewart Europe Limited
Tim Mickley +44 (0)20 7523 8350
Jonny Sloan +44 (0)20 7523 8302
Media enquiries:
Abchurch
Ashley Tapp Tel: +44 (0) 20 7398 7700
Mob: +44 (0) 7944 570 387
ashley.tapp@abchurch-group.com
Stephanie Cuthbert Tel: +44 (0) 20 7398 7700
Mob: +44 (0) 7843 080947
stephanie.cuthbert@abchurch-group.com www.abchurch-group.com
Notes to editors
Medicsight PLC is a UK-based, 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 ColonCADTM and LungCADTM software products are seamlessly
integrated with the advanced 3D visualisation workstations of several
industry-leading imaging equipment partners.
About Computer-Aided Detection
With increasingly sophisticated radiological imaging hardware such as
Multi-Detector CT scanners, radiologists are facing a growing challenge in the
amount of detailed patient image data that they must review for each patient
examination. Some CT scan examinations generate as many as 1000 images per
patient. Review of this data by the radiologist is not only time-consuming but
also prone to error due to reader fatigue. CAD software can help the reviewing
radiologist by analysing the image data and automatically highlighting
suspicious regions of interest for closer inspection. Without CAD software some
potential abnormalities or areas of disease may be overlooked. This is critical
for diagnosis and the management of patient outcomes as early detection of
disease greatly increases the probability of successful treatment and a positive
therapeutic outcome.
About Medicsight's CAD software
Medicsight's ColonCADTM and LungCADTM software use an advanced CAD algorithm to
analyse CT scans of the colon and lung and automatically highlight suspicious
areas that may be indicators of disease. CAD may highlight areas easily
overlooked by the reviewing radiologist, such as small lesions or regions that
are hidden from view behind folds in the colon or normal structures and
surrounding tissue in the lung.
Both CAD products seamlessly integrate with the advanced 3D visualisation
platforms of industry-leading imaging equipment partners. The integrated systems
provide sophisticated image viewing capabilities, including 3D reconstructed
image data, with the added advantage of demonstrating automatic CAD findings to
assist clinical end users in the detection and analysis of disease. This allows
clinical end users to perform either a 'second read', where CAD findings are
displayed to the user after completion of an initial review of the CT scan data,
or a 'concurrent read' where CAD findings are displayed during the user's
initial review of the original CT scan images.
Since inception, Medicsight has developed close and lasting relationships with
some of the world's foremost clinicians in product related areas. This provides
the Company with a wealth of clinical expertise and dedicated clinical research
to support ongoing product development. Medicsight also collaborates with a
number of leading academic institutions and clinical research programmes
worldwide to develop the Company's comprehensive database of population diverse
verified patient CT scan data, thus allowing Medicsight's products to be
validated to the highest possible standards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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