Imi Medical Innovations (AMEX:IME)
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PREVU(x) POC Skin Sterol Test available for sale in Canada, U.S.
markets
TORONTO, Jan. 27 /PRNewswire-FirstCall/ -- IMI International Medical
Innovations Inc. (TSX: IMI; Amex: IME) today announced that PREVU(x) Point of
Care Skin Sterol Test, a non-invasive, predictive test for coronary artery
disease, is now available for sale in Canada and the United States. PREVU(x),
which measures the amount of cholesterol, or sterol, accumulated in the skin
tissues, is marketed and distributed worldwide by McNeil Consumer Healthcare.
"IMI is excited about the potential for PREVU(x) in North America and other
major world markets," said Dr. Brent Norton, President and Chief Executive
Officer of IMI. "Over the past several months, we have worked closely with
McNeil to develop and refine the PREVU(x) Skin Sterol Test brand, a complex
process that ranged from software enhancements to extended dating on the test
kits. The initial rollout of PREVU(x) POC to the professional medical community
in North America has now begun and we look forward to advancing the
commercialization of PREVU(x) through 2005 and beyond."
"Cardiovascular diseases claim the lives of 17 million people around the world
every year," added Dr. Norton. "PREVU(x) is a simple, painless test that
provides new information about a patient's risk of developing heart disease,
enabling more targeted treatment and improved health outcomes."
IMI will be making a presentation to investors today at 11:10 a.m. at the 19th
Annual Financial Forum in Toronto, at the Metro Toronto Convention Centre,
North Building, Hall "C". IMI will be exhibiting at the conference from January
27 - 30, 2005, from 10 a.m. to 5 p.m. each day.
Dr. Norton stated, "IMI is making great strides in its quest to deliver on the
promise of predictive medicine. We have proven our ability to transform a
concept into a commercially viable product, and are advancing a pipeline of
promising technologies for the early detection of colorectal, lung and breast
cancers. There is no doubt in my mind that we have the expertise to replicate
our success with PREVU(x) POC with other products, including the lab-processed
and consumer versions of PREVU(x) as well as ColorectAlert(TM), LungAlert(TM)
and our breast cancer test."
About PREVU(x)
PREVU(x) Point of Care Skin Sterol Test, which does not require fasting or the
drawing of blood, tests the amount of sterol, or cholesterol, in the skin
tissue. Clinical studies have shown that as cholesterol accumulates on artery
walls it also accumulates in other tissues, including the skin. High levels of
skin sterol are correlated with higher incidence of coronary artery disease
(CAD). PREVU(x) POC has been approved for sale in Canada, the U.S. and Europe.
About IMI
IMI is a world leader in predictive medicine, dedicated to developing rapid,
non-invasive tests for the early detection of life-threatening diseases. IMI's
cardiovascular products, which are branded as PREVU(x) Skin Sterol Test, are
marketed and distributed worldwide by McNeil Consumer Healthcare. The company's
cancer tests include ColorectAlert(TM), LungAlert(TM) and a breast cancer test.
IMI's head office is located in Toronto, and its research and product
development facility is at McMaster University in Hamilton, Ontario. For
further information, please visit http://www.imimedical.com/.
For inquiries related to PREVU(x) Skin Sterol Test, please call McNeil's
customer service hotline at 1-800-265-7323.
This press release contains forward-looking statements. These statements
involve known and unknown risks and uncertainties, which could cause the
Company's actual results to differ materially from those in the forward-
looking statements. Such risks and uncertainties include, among others, the
lack of operating profit and availability of funds and resources to pursue R&D
projects, the successful and timely completion of clinical studies, the
successful development or marketing of the Company's products, reliance on
third-party manufacturers, the competitiveness of the Company's products if
successfully commercialized, the ability of the Company to take advantage of
business opportunities, uncertainties related to the regulatory process, and
general changes in economic conditions. In addition, while the Company
routinely obtains patents for its products and technology, the protection
offered by the Company's patents and patent applications may be challenged,
invalidated or circumvented by our competitors and there can be no guarantee of
our ability to obtain or maintain patent protection for our products or product
candidates.
Investors should consult the Company's quarterly and annual filings with the
Canadian and U.S. securities commissions for additional information on risks
and uncertainties relating to the forward-looking statements. Investors are
cautioned not to rely on these forward-looking statements. IMI is providing
this information as of the date of this press release and does not undertake
any obligation to update any forward-looking statements contained in this press
release as a result of new information, future events or otherwise.
DATASOURCE: IMI International Medical Innovations Inc.
CONTACT: For more information about IMI, please contact Company Contact:
Sarah Borg-Olivier, Director, Communications, T: (416) 222-3449,
; U.S. Investor Contact: Andrea Faville, The
Investor Relations Group, T: (212) 825-3210,