Corporation Also Announces Grant of Options and Deferred Stock Units
VentriPoint Diagnostics Ltd. (TSX VENTURE:VPT) (PINKSHEETS:VPTDF) has
installed its latest version of the VMS heart analysis system at
ERASMUS MC SOPHIA (Sophia) Children's Hospital in Rotterdam,
Netherlands. Sophia will introduce the VMS system into routine
clinical use for Tetrology of Fallot (Blue Baby Syndrome) or Systemic
Right Ventricle patients, under the supervision of Dr. Willem Helbing
and Dr. Laurens Koopman.
"The VentriPoint system combines the best of both worlds: the ease and
availability of 2D echo and the intrinsic 3D information of the MRI
acquired shapes of the right ventricle in the database. We anticipate
a reduction of the need for (expensive) cardiac Magnetic Resonance
Imaging (MRI) for the purpose of assessment of right ventricle
volumes", said Dr. Helbing.
Dr. Helbing is the Head of Pediatric Cardiology for Sophia, and has a
history with VentriPoint as he was an early collaborator and provided
valuable insight into the product development. VMS uses Knowledge
Based Reconstruction (KBR) to accurately create the surface volume of
the right ventricle. KBR is based on a library of hearts that are
disease specific. Dr. Helbing provided guidance and MRI heart images
that VentriPoint incorporated into its heart libraries for Tetrology
of Fallot and Systemic Right Ventricle.
"Dr. Helbing was one of the first people I called when I joined
VentriPoint," said Dr. George Adams, CEO of VentriPoint. "It is
wonderful we can now supply him with the newest version of the VMS
which meets his clinical needs."
Approximately, 0.8% of the live births in the Netherlands are born
with some form of congenital heart disease. The more severe cases
require life-long monitoring of their right ventricle.
The Corporation also announces that it has granted 2,550,000 options
to certain officers of the Corporation. The options are exercisable at
$0.17 per share until the fifth anniversary date of the grant. In
addition, the Corporation announces that it has granted a total of
450,000 Deferred Stock Units (DSU) to certain directors. Under the
terms of the Corporation's Deferred Share Unit Plan, holders of DSU
may redeem each DSU for one share of Common Stock upon the termination
of their services to the Corporation at no cost to the holder.
About Dr. Willem Helbing
Dr. Helbing has combined a clinical career as paediatric cardiologist
with a research interest in ventricular function in congenital heart
disease. He has used various models and techniques, particularly MRI,
to study right and single ventricular function in children and young
adults with congenital heart disease. He currently is a professor in
paediatrics and Head of Paediatric Cardiology at Erasmus University
Medical Center and Sophia Children Hospital.
About Erasmus MC
Erasmus MC is the largest and most versatile of the eight university
medical centers in the Netherlands. Erasmus MC wants to further extend
its international reputation and become one of the twenty best medical
institutes in the world by 2013. The organization consists of over
fifty departments. Each department contributes to Erasmus MC's three
core tasks: patient care; research; and education.
About VentriPoint Diagnostics Ltd.
VentriPoint has created a diagnostic ultrasound tool to monitor
patients with heart disease, a leading cause of death in developed
countries. Management believes the VMS is the first cost-effective
and accurate diagnostic tool for measuring right ventricle heart
function. Congenital heart disease is the first application in a suite
of applications for all major heart diseases including pulmonary
hypertension, cardiovascular disease and heart failure, which
management believes has a multibillion-dollar market potential. Canada
and Europe (CE Mark) have granted approval for the sale of
VentriPoint's VMS heart analysis system and VentriPoint is pursuing
the US-FDA approval through the 510(k) process.
FORWARD-LOOKING STATEMENTS: The statements made in this press release
that are not historical facts contain forward-looking information that
involves risk and uncertainties. All statements, other than statements
of historical facts, which address VentriPoint's expectations, should
be considered forward-looking statements. Such statements are based on
management's exercise of business judgment as well as assumptions made
by and information currently available to management. When used in
this document, the words "may", "will", "anticipate", "believe",
"estimate", "expect", "intend" and words of similar import, are
intended to identify any forward-looking statements. You should not
place undue reliance on these forward-looking statements. These
statements reflect a current view of future events and are subject to
certain risks and uncertainties as contained in the Corporation's
filings with Canadian securities regulatory authorities. Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results could differ materially
from those anticipated in these forward-looking statements. These
forward-looking statements are made as of the date of this press
release and, other than as required by applicable securities laws, the
Corporation does not assume any obligation to update or revise them to
reflect new events or circumstances. Although management believes that
expectations are based on reasonable assumptions, no assurance can be
given that these expectations will materialize.
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that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release