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TICKERS: IME; IMEXF

Imaging System Developer Outlines Plan for 2020
News Update

Source:

The company continues to advance its device toward commercialization.

Imagin Medical Inc. (IME:CSE; IMEXF:OTCQB) provided in a news release an update on the company.

Imagin noted that it closed an oversubscribed non-brokered private placement for $1.914 million in gross proceeds.

The medical device company will use the funds to complete development of its i/Blue Imaging System, advance along the U.S. Food and Drug Administration's (FDA) approval pathway and increase the device's market exposure.

In the near term, Imagin intends to carry out pilot production of i/Blue, which should be finished and validated by mid-2020. Subsequently, the biotech will submit an application for device approval to the FDA.

Simultaneously, Imagin will keep working to increase awareness of i/Blue in the urology marketplace by attending trade shows and developing relationships with key opinion leaders. Also, the company will "continue to build on its intellectual property and create distribution channels in the urology marketplace," the release noted.

"2019 was a momentous year for the Company as we advanced our deep understanding of the i/Blue System™ and moved into the final stages of development. Our unique value proposition is well positioned for a very promising 2020 with the goal to provide patients suffering from bladder cancer potentially better outcomes," President and CEO Jim Hutchens said in the release.

"Among our many 2019 activities, I consider our meetings at the AUA to be the most important. We were able to introduce the i/Blue technology to North America's top urologists, who helped us define user needs and further refine the system. We were very encouraged by their overwhelmingly positive feedback on the i/Blue Imaging System’s key features—simultaneous dual images and adaptability to almost any endoscope—to advance the use of blue light in treating bladder cancer," Hutchens noted.

The company noted that with i/Blue development completed, "the technology can be readily adapted to accommodate additional FDA-approved contrast agents, such as Indocyanine green (ICG) used in laparoscopic surgeries, significantly expanding Imagin’s market potential."

In summary, Mr. Hutchens said, "We are excited to enter 2020 closer to delivering the benefits of the i/Blue System to the medical community to help cancer patients and increasing the visibility of Imagin Medical. Our ongoing goal is to become a resource to physicians and their patients as we progress, and to continue building shareholder value."

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Imagin Medical. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Imagin Medical. Please click here for more information.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Imagin Medical, a company mentioned in this article.
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