PETACH TIKVA, Israel, April 18, 2016 /PRNewswire/ --
Emerald Medical Applications Corp. (OTCQB: MRLA) ("Emerald" or the "Company"), the Israeli-based company engaged in the development and sale of DermaCompare™, its proprietary artificial intelligence technology for the early diagnosis of melanoma and other skin cancers, today announced that DermaCompare was selected as the Israeli technology "most likely to succeed in Brazil" by the Israel - Brazil Chamber of Commerce.
The Company also announced that it has entered an exclusive agreement with Laser Brazil Technology (LBT), a leading distributor of dermatologic medical equipment in Brazil. The agreement provides LBT with exclusive distribution rights for the Company's DermaCompare to dermatologists throughout Brazil for a period of three years. In order to maintain the exclusivity, LBT must generate a minimum of $7 million in revenue for the Company.
According to the recent study "Melanoma characteristics in Brazil: demographics, treatment, and survival analysis," melanoma constitutes less than 5% of skin cancers but is responsible for approximately 95% of skin cancer deaths, and its incidence has been rising worldwide. The report also states that over recent decades the overall survival rate of Brazilian patients diagnosed with melanoma are lower than worldwide rates.
DermaCompare enables patients to "self-conduct" a dermatology scan using Total Body Photography Imaging (TBP) with a basic digital camera, typically a tablet or Smartphone (whether iPhone or Android), following simply, self-explanatory, online instructions. Once uploaded to the DermaCompare platform, physicians can review their patient's skin TBP images and receive a summary of data points with current, relevant data about the patient's skin, including alerts to any suspicious changes. This is particularly important in the cases of melanoma, which is most often diagnosed based on the changing appearance of moles.
"Early detection is the most effective tool for the treatment of any cancer, particularly aggressive cancers like melanoma. We are excited by the opportunity through Laser Brasil Technology to bring our DermaCompare platform to Brazil, where we believe DermaCompare will be a widely-accepted and an effective tool in improving early melanoma detection rates. Not only does DermaCompare empower patients to take charge of their own health and that of their loved ones, it expedites the early examination and diagnosis process, which is critical to improving survival rates," said Lior Wayn, Emerald's Founder and Chief Executive Officer.
Wayn went on to say, "We are so proud to have been selected by the Chamber of Commerce as the Israeli company most likely to succeed in Brazil. We chose LBT as our partner because of their reputation within the dermatology sector, which is unparalleled. We firmly believe their network will enable us to fast-track the exposure of DermaCompare to dermatologists and patients in need throughout Brazil and even elsewhere in South America."
About Emerald Medical Applications Corp
Emerald Medical Applications is an Israeli-based medical technology company that utilizes proprietary military image processing technology and state of the art data analytics to improve the analysis of medical images. Emerald's flagship solution, DermaCompare™, is an FDA Class #1 approved, HIPPA-compliant, skin cancer (melanoma) screening platform that enables physicians to identify and monitor changes in their patients' skin health, specifically the early detection of cancerous moles and skin anomalies.
The DermaCompare™ patient application is available in Mac or Android based platforms and works using virtually any digital camera, including cell phones, iPads, tablets and other similar devices, to take Total Body Photography (TBP) images and, in real-time, transmit these images for dermatological evaluation and identification of suspicious moles, lesions and other skin conditions. These images are then compared using Emerald's cloud database, as well as the patient's previous Total Body Photography images, which will dramatically enhance a physician's ability to detect Melanoma earlier, more accurately and more efficient than other means of diagnosis
For more information, visit:http://www.dermacompare.com/
About Laser Brazil Technology
Laser Brazil Technology is a leading distributor of dermatologic medical equipment in Brazil, providing innovative solutions that meet the needs of medical professionals, providing high-tech equipment, as well as training and courses that guarantee the correct functioning of the systems ensuring patient satisfaction. For more information, visit http://www.lbtlasers.com.br
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about Emerald's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Emerald or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by Emerald with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of Emerald's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Emerald's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Emerald's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in Emerald's filings with the SEC. In addition, Emerald operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Emerald does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Reference is made to the disclosure under "risk factors" included in our Registration Statement on Form S-1 which was declared effective by the U.S. Securities and Exchange Commission on January 20, 2016.
Lior Wayn, CEO
SOURCE Emerald Medical Applications Corp.