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Verisante Issues Update on Regulatory Milestones


October 6, 2011 at 8:00 am

FILES WITH HEALTH CANADA AND READIES APPLICATION FOR CE MARK

VANCOUVER, BRITISH COLUMBIA - Verisante Technology, Inc. (TSX-V: VRS, OTCQX: VRSEF, Frankfurt: V3T) (the “Company” or “Verisante”), a leader in cancer imaging technology, announced today that it has filed an application with Health Canada for a Class II Medical Device License to market and sell Verisante Aura™, a  non-invasive medical device for the detection of skin cancer, in Canada.

The Company has completed all applicable safety testing required under Health Canada guidelines.   Additional safety testing is also being done to confirm compliance with European guidelines. This additional testing is required to complete the Technical File for submission to a notified body to receive CE Mark approval for Europe.  Verisante anticipates submitting our Technical File in October.

“We have come a long way and have met many milestones since licensing this technology from the BC Cancer Agency only 15 months ago,” said President and CEO Thomas Braun. “As we move into the final quarter of 2011, we remain confident we will be able to meet our regulatory milestones of Canadian, European, and Australian approval by the end of the year.”

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.

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.

Company Contact:                       

Thomas Braun, President & CEO                   
Verisante Technology, Inc.                   
Telephone: (604) 605-0507                   
Email: info@verisante.com                   
Website:  www.verisante.com                     
Youtube:  www.youtube.com/verisante                 
Twitter: www.twitter.com/verisante
Facebook: www.facebook.com/verisante

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.

 

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