RICHMOND, BC, July 3, 2012 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, has received additional funding from the Centre for Surgical Invention and Innovation (CSii) at McMaster University for the next phase of development of the advanced technology solution for use in early detection and treatment of breast cancer. The total contract is now valued at CA$7.7 million.
This next phase will include enhancing the capability of the original solution, and integrating it into the complete platform in preparation for clinical trials.
As announced in August 2011, MDA and CSii are collaborating on the development of a platform of Image Guided Autonomous Robotic products, the first of which is designed to perform image-guided breast biopsies. The solution will provide increased access, precision and dexterity resulting in more accurate and less invasive procedures.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include failure of third parties and subcontractors; failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and offerings or comply with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to MDA's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on MDA's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
SOURCE MacDonald, Dettwiler and Associates Ltd.