LED Medical Diagnostics Inc. to Expand Effort to Apply Fluorescence Visualization Technology to Dermatology Market
Exploring patented technologys effectiveness for skin cancer applications.
BURNABY, British Columbia March 7, 2013 ? LED Medical Diagnostics Inc. (LED Medical, the Company), a developer of tissue fluorescence visualization technologies for the medical industry, announced today that it is expanding its investigation of the application of its tissue fluorescence visualization technology to the detection of skin cancer and other dermatologic diseases.
The Companys operating subsidiary, LED Dental Inc., launched its first VELscope® oral screening device into the dental market in late 2006. Over the past six and a half years, it has evolved to become the worlds number one adjunctive screening device for oral tissue abnormalities, including oral cancer, with over 25 million exams conducted to?date. In mid?2011, LED Medical announced that its tissue fluorescence visualization technology also had significant potential in the dermatologic market. The Company believes it is now in a position to begin actively exploring targeted applications in dermatology.
We continue to make great strides in the dental vertical, and there are now more than 13,000 dentists in 23 countries using our VELScope® Vx Advanced Oral Assessment System as part of their patient care, states founder and CEO, Peter Whitehead. Our intention is to now explore other medical applications for our technology that we consider highly promising. One particular application of interest is the use of VELScope® fluorescence visualization technology by dermatologists and surgeons to better delineate surgical margins when excising the two most common types of skin cancer: basal cell carcinoma and squamous cell carcinoma. According to the Skin Cancer Foundation, over two million Americans are diagnosed with approximately 2.8 million cases of basal cell carcinoma and 700,000 cases of squamous cell carcinoma annually. To provide a sense of scale, this equates to approximately 85 times the number of oral cancer discoveries in the US each year.
The basis for the Company's dermatologic work is its patent for a "fluorescence scope system for dermatologic diagnosis." The patent was originally awarded to five highly respected researchers in the field of fluorescence visualization: Dr. Harvey Lui, head of Dermatology & Skin Science at the University of British Columbia (UBC); Dr. Calum MacAulay, head of Integrative Oncology at the BC Cancer Agency (BCCA); Dr. David McClean, UBC Professor of Dermatology and head of the BCCA Cancer Prevention Programs; and Branko Palcic, PhD. and Haishan Zeng, PhD., Senior Scientists in the Imaging Unit of Integrative Oncology at the BCCA.
LED Medicals management believes that its technology may be capable of enhancing a surgeon's success rate when excising diseased tissue. "Skin cancer surgery too frequently leaves cancerous tissue behind, due in part to the fact that the naked eye cannot always see the full extent of the carcinoma, he said. We are hopeful that our proprietary tissue fluorescence technology will make it easier for surgeons to target and successfully remove all of the diseased tissue." Mr. Whitehead added that LED Medical's VELscope® technology is the first to receive FDA and Health Canada clearance to help surgeons determine the appropriate surgical margin for the excision of oral cancer and pre-cancer.
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Burnaby, British Columbia, Canada, LED Medical Diagnostics Inc. is a leading developer of LED-based visualization technologies for the medical industry. The Company is currently listed on the Toronto Stock Exchange (TSX-V) under the symbol LMD, the OTCQX under the symbol LEDIF, as well as the Frankfurt Stock Exchange under the symbol LME. For more information, visit www.ledmd.com.
Through its wholly-owned subsidiary, LED Dental Inc., the company manufactures the VELscope® Vx Enhanced Oral Assessment System, the first system in the world to apply tissue fluorescence visualization technology to the oral cavity. VELscope® Vx devices are now used to conduct more screenings for oral cancer and other oral tissue abnormalities than any other adjunctive device. For more information, visit www.leddental.com.
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Forward Looking Statement
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking information includes statements regarding the potential expansion of the Company's technology to other medical applications. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Corporation's actual future results or performance may be materially different. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to, product development risks such as regulatory, design, intellectual property, technological and competitor risk and the risk factors described in the Company's reports filed on SEDAR including its Annual Information Form and financial report for the year ended December 31, 2011. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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