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Exciting Diagnostic Innovations Alter the Healthcare Landscape

FinancialBuzz.com News Commentary


News provided by

FinancialBuzz.com

May 18, 2020, 09:00 ET

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NEW YORK, May 18, 2020 /PRNewswire/ -- Among the plethora of segments within the medical devices industry, the medical imaging technology segment is one of the most vibrant. It includes various technologies such as x-ray scan, MRI, CT-scan and others that are used to diagnose diseases and help physicians decide on a course of treatment. Comparable to the medical devices industry, imaging technology growth is heavily dependent on technological advancements, the growing investments made by governments of emerging countries and on the growth of the geriatric population. A recent example of how technology helps transform the sector is the integration of Artificial Intelligence (AI). In fact, just earlier this year, the U.S. Food and Drug Administration (FDA) authorized marketing of software to assist medical professionals in the acquisition of cardiac ultrasound, or echocardiography, images. The software, called Caption Guidance, is an accessory to compatible diagnostic ultrasound systems and uses artificial intelligence to help the user capture images of a patient's heart that are of acceptable diagnostic quality. Additionally, the global medical imaging market is expected to generate around USD 48.6 Billion by 2025 and at a CAGR of around 5.2% between 2019 and 2025 according to Zion Market Research. Izotropic Corporation (OTC: IZOZF) (CSE: IZO), Lantheus Holdings, Inc. (NASDAQ: LNTH), RadNet, Inc. (NASDAQ: RDNT), Varex Imaging Corporation (NASDAQ: VREX), General Electric Company (NYSE: GE) 

A major portion of the medical imaging market is cancer imaging systems. Data by BIS Research projects that the global cancer imaging systems is expected to reach USD 11 Billion by 2025. According to the research, the cancer imaging market focuses on major cancer indications (breast cancer, lung cancer, colorectal cancer and prostate cancer, among others) and various imaging modalities (mammography, MRI and positron emission tomography, among others). Cancer imaging systems are crucial tools for potential early cancer detection and diagnostics. The application segment of this market comprises of oncology indications such as breast, lung, colorectal, prostate, liver and other cancers. The breast cancer acquired the highest market value. However, lung cancer is growing at the highest CAGR 5.4%. The reason for such strong market share is attributed to the rising incidence rate of breast cancer among women all over the world.

Izotropic Corporation (OTC: IZOZF) (CSE: IZO) announced last week breaking news that, "it has engaged StarFish Medical, Canada's largest medical device design, development and contract manufacturing company, to complete the final design and development of the Company's commercial breast CT model.

StarFish Medical Founder and CEO Scott Phillips commented on the collaboration:

"We have worked with numerous companies in the medical and breast imaging spaces. Izotropic has conducted significant technical, clinical and market-positioning efforts that provide a high level of confidence that the final product will meet patient, physician and marketplace requirements. We look forward to working with Izotropic on the development of the final commercial model of their breast CT imaging system and assisting them in design and manufacturing of the alpha, beta, and early stage production models of breast CT."

Four successive breast CT imaging systems (models) have been built at UC Davis Medical Centre in California by company Director and Principal Founder of breast CT, Dr. John Boone. Each of these systems had better clinical utility and image performance than its predecessor. The latest system has incorporated lessons learned from previous models and the incorporation of state-of-the-art subcomponents have improved clinical utility with exceptional high-resolution CT images of the breast. Izotropic holds the rights to this breast CT technology under its exclusive global License Agreement with The Regents of the University of California.

Dr. John McGraw, Consultant and Advisor with Izotropic spoke highly of the partnership:

"I have worked with StarFish Medical over the past 15 years, and have always been impressed with their expertise, and the engineering quality and timely delivery of their medical devices. Starfish is the best possible partner to help Izotropic accelerate the development of their breast CT imaging device and I am excited to continue our work together."

The relationship with StarFish Medical is an integral development. The Company looks forward to continuing to execute on its business plans to actualize dedicated breast CT and make meaningful advances for the earlier detection and treatment of breast cancers."

Earlier on April 15 Izotropic Corporation announced that, "the United States Patent and Trademark Office has issued U. S. Patent No. 10,548,549, entitled 'Measuring Breast Density Using Breast Computed Tomography' for a 20-year term, expiring in 2037. This patent covers the use of the Company's Breast CT Imaging System to measure breast density."

Lantheus Holdings, Inc. (NASDAQ: LNTH), parent company of Lantheus Medical Imaging, Inc. ("LMI"), a leader in the development, manufacture and commercialization of innovative diagnostic imaging agents and products, and Progenics Pharmaceuticals, Inc. ("Progenics"), an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer, announced earlier in April that Lantheus has entered into a Support Agreement (the "Support Agreement") with Velan Capital ("Velan") in connection with the proposed merger of Lantheus and Progenics. Velan is a stockholder of both Progenics and Lantheus and the Support Agreement provides that Velan will vote all of its Progenics stock and Lantheus stock in favor of the proposed merger of Lantheus and Progenics on the terms set forth in the Amended and Restated Agreement and Plan of Merger, dated as of February 20, 2020 (the "Amended Merger Agreement"). Velan has also agreed to abide by certain customary standstill provisions during the term of the Support Agreement.

RadNet, Inc. (NASDAQ: RDNT) reported earlier this year that it has executed a definitive agreement to acquire DeepHealth, Inc. ("DeepHealth"), a leading radiology artificial intelligence ("AI") and machine learning company initially focused on solutions for the medical interpretation of mammography exams. Founded in 2015 and based in Cambridge, Massachusetts, DeepHealth is developing solutions in machine learning and AI to assist radiologists and other clinicians in interpreting images and improving patient care. DeepHealth's development to date has focused on screening mammography, specifically 3D breast imaging, where the large volume of cases and the difficult nature of their interpretation place significant demand on radiologists.

Varex Imaging Corporation (NASDAQ: VREX) announced earlier this year that it has entered into a renewed three-year pricing agreement with Canon Medical Systems Corporation effective for calendar years 2020 - 2022. "We are very pleased to continue our multi-decade long relationship with Canon Medical Systems and bring to their next generation imaging systems our portfolio of innovative X-ray based technology, which can accelerate time to market and reduce total cost of ownership," said Sunny Sanyal, Chief Executive Officer of Varex Imaging Corporation. Varex will continue to supply its computed tomography (CT) tubes and heat exchangers for integration into Canon Medical Systems' CT imaging systems for the global market. Potential product sales associated with this renewed agreement are estimated to be approximately USD 385 million over the term of the agreement. Varex also supplies Canon Medical Systems with digital detectors and high voltage connectors through separate agreements.

General Electric Company (NYSE: GE) announced back in December 2019 GE Healthcare and Affidea, the pan-European leader in advanced diagnostic imaging, outpatient and cancer care services, have signed a multi-year agreement to deploy imaging and digital technologies across the Affidea network. GE Healthcare will install 200+ new equipment in Affidea's network of centers across Europe. The deal includes the provision of 60 new MRIs, 50 ultrasound devices, 40 CT scanners and 30 X-rays machines in the next 3 years. It also includes a six-year service contract. In addition, Affidea expands its collaboration with GE Healthcare in pharmaceutical diagnostics in all its geographies, to include Clariscan, GE Healthcare's new contrast media product, used in MRI exams.

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For Izotropic Corporation financial and corporate news dissemination, FinancialBuzz.com has been compensated four thousand dollars by meridian ventures. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com.

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