Company Attends TSX Venture 50 Spotlight Event and Provides Operational Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2012) - Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF)(PINKSHEETS:VRSEF)(FRANKFURT:V3T) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today that president & CEO Thomas Braun will participate in the opening of the market on Tuesday April 3 in honour of Verisante being named the top ranking Technology and Life Sciences Company on the TSX Venture Top 50.
The TSX Venture Exchange's annual list of its top 50 emerging publicly traded companies is a ranking of the strongest performers from five industry sectors. Verisante ranked number one on the list of top 10 leading Technology and Life Sciences companies for the year. Companies are selected based on four equally weighted criteria - return on investment, trading activity, market capitalization growth, and analyst coverage. The results were obtained from data to December 31, 2011.
In addition, Mr. Braun will be speaking at the TSX Venture 50 Spotlight event in Toronto to an audience comprised of portfolio managers, investment bankers, research analysts and investment advisors.
"The TSX Venture 50 Spotlight event comes at a very opportune time for the Company," said Braun. "With our Canadian distributor now in place and the Aura™'s clinical study results being published in Cancer Research, we are looking forward to providing this life-saving technology to medical professionals in Canada, Europe and Australia, where Aura™ is currently approved for sale."
Ten beta Verisante Aura™ systems will be completed, tested and placed for field testing in April, with manufacturing and production set to begin in the second half of the year.
Verisante 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. It uses Raman spectroscopy to biochemically analyze the skin, providing immediate results.
Aura™ is indicated for use for the evaluation of skin lesions that may be clinically suspicious for melanoma, squamous cell carcinoma, basal cell carcinoma, and/or actinic keratosis when a medical professional chooses to obtain additional information to rule out one of the above conditions before making a final decision to biopsy. The device 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.
Verisante Aura™ was recently awarded Popular Science Magazine's "Best of What's New Award" for 2011, and Verisante Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society. In addition, the Company was named a finalist for the 2011 Regional Awards for New Technology by the Canadian Manufacturers & Exporters and the National Research Council of Canada.
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 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 Aura™ has been approved for sale in Canada, Europe and Australia. The Core™ has not yet been approved for sale.
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.