MDST Medicsight

    RNS Number : 1418U
  Medicsight Plc
  11 May 2008
   


Press Release                                                      12 May 2008









                                 Medicsight PLC



                        ("Medicsight" or "the Company")



                    First quarter summary trading statement





Medicsight PLC (AIM: MDST), industry leader in the development of Computer-Aided

Detection (CAD) and image analysis software to assist in the early detection and

diagnosis of disease, is pleased to announce its Interim Results for the first

quarter ended 31 March 2008.





Highlights





  ·      Preliminary agreement with Toshiba Medical Systems Corporation to 


         initiate global partnership



  ·      American Cancer Society (ACS) endorsed Computerised Tomography 

         Colonography ("CTC") and added CTC to its colon cancer screening 


         guidelines



 



Highlights post period end



  ·      Chinese SFDA approval



  ·      Global partnership with INFINITT, one of the world's leading medical 


         imaging and picture archiving and communication systems (PACS) 

         companies       



 



David Sumner, Chief Executive of Medicsight PLC, commented: "I am delighted with

the progress that the Company has made during the first quarter of 2008.  We

continue to bolster our contract pipeline adding Toshiba PACS division to our

list of distribution partners.  This is a significant milestone for Medicsight,

it is the start of a global partnership with Toshiba and will allow solid

penetration into the Japanese market for our MedicRead Colon workstation. This

year we received the Chinese SFDA approval and are on track to gain approvals in

Japan and the US.



"I am also pleased to say that our product delivery roadmap continues on track

and I look forward both to the launch of upgrades to existing Medicsight

software solutions and to demonstrating new clinical applications at the 2008

RSNA in November."





Summary Financial Data



For the three months to 31 March 2008



  ·      net revenue to external customers was £17,000 (31 March 2007: nil)



  ·      operating loss before interest and tax of £2,030,000 

         (31 March 2007: £1,467,000)



  ·      The group total assets position at 31 March 2008 was £24,641,000 


         (31 March 2007: £5,898,000).



 



 



                                    -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







Media enquiries:

Abchurch                                             Tel: +44 (0) 20 7398 7700

Heather Salmond / Stephanie Cuthbert                 Tel: +44 (0) 20 7398 7718

stephanie.cuthbert@abchurch-group.com                www.abchurch-group.com







Notes to editors



Medicsight PLC is a UK-headquartered, 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 2,500 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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