Imi Medical Innovations (AMEX:IME)
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New data validates PREVU(x) LT Skin Sterol Test
Lab-processed format of PREVU(x) reliably measures skin sterol
TORONTO, July 26 /PRNewswire-FirstCall/ -- PREVU(x) LT Skin Sterol Test, the
lab-processed format of IMI International Medical Innovations Inc.'s (Amex:
IME; TSX: IMI) non-invasive test for cardiovascular disease risk assessment,
can effectively measure skin tissue cholesterol on the palm of the hand,
according to new data presented today at the American Association for Clinical
Chemistry (AACC) Annual Meeting, in Orlando, Florida.
"This data clearly validates the PREVU(x) LT format, showing that skin samples
can be reliably taken and sent to a laboratory for batch analysis of skin
sterol levels," said Dr. Brent Norton, President and Chief Executive Officer.
"Equally important, this study represents the first data showing that results
from PREVU(x) LT and PREVU(x) POC are comparable. It's also the first time that
data on PREVU(x) LT has been presented in a scientific forum, which enhances the
credibility and market visibility of this new test format."
The PREVU(x) family of products also includes PREVU(x) Point of Care (POC) Skin
Sterol Test, which is cleared for sale and currently being commercialized in
Canada, the U.S. and select European markets, and PREVU(x) PT Skin Sterol Test,
a home-use format of the technology that is still in development. PREVU(x) is
marketed worldwide by McNeil Consumer Healthcare, Canada.
About the Study
The study tested 156 normal patients with PREVU(x) LT, demonstrating no
difference between males (0.204) and females (0.222). Sampling from left and
right palms showed no significant differences between mean skin sterol values
(0.222 and 0.221 respectively). Reproducibility of PREVU(x) LT was also shown
to be similar to that of PREVU(x) POC. For 99 patients attending a cardiology
clinic, the data showed a statistically significant relationship (p(equal
sign)0.013) between results from PREVU(x) LT and results from PREVU(x) POC.
The abstract, titled A novel, non-invasive skin-stripping device and method for
measurement of cholesterol in skin samples, was co-authored by P.Horsewood, R.
Zawydiwski, M. Evelegh, M. Patterson, S. Dudek and M. Gupta.
PREVU(x) LT is currently in numerous clinical trials, including a
25,000-participant study in the life-insurance testing industry that is being
conducted with the participation of selected U.S. life insurers and other
industry partners. According to the most recent data, in 2003 approximately
13.5 million individual life insurance policies were purchased in the United
States, a significant number of which do not include a cardiovascular disease
assessment. PREVU(x) LT could be a cost effective tool for insurance companies
to better manage this risk.
About IMI
IMI (http://www.imimedical.com/) 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, Canada. 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 information regarding PREVU(x),
please go visit http://www.prevu.com/.
Corporate Name Change
In September 2005, IMI will change its corporate name to PreMD Inc. to better
reflect the company's leading position in the predictive medicine field. The
new website will be http://www.premdinc.com/.
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 successful
development or marketing of the Company's products, the competitiveness of the
Company's products if successfully commercialized, the lack of operating profit
and availability of funds and resources to pursue R&D projects, the successful
and timely completion of clinical studies, product liability, reliance on
third-party manufacturers, the ability of the Company to take advantage of
business opportunities, uncertainties related to the regulatory process, the
inability of the Company to change its name to PreMD Inc. in the time projected
due to any reason, 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: U.S. Investor Contact: Sarah Borg-Olivier, Director,
Communications, T: (416) 222-3449, ; John Nesbett,
Sally Martin, The Investor Relations Group, T: (212) 825-3210,
,