Perimeter Selected for INOVAIT Pilot Fund to Advance AI for Breast Cancer Surgery

Canadian government-backed contribution supports next-generation AI
development for Claire™, Perimeter's flagship intraoperative imaging platform

TORONTO, June 9, 2026 /PRNewswire/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) ("Perimeter" or the "Company") today announced it has been selected to receive a contribution from the INOVAIT Pilot Fund to advance next-generation AI capabilities for its flagship product Claire™, which received U.S. Food and Drug Administration approval earlier this year as the first AI-enabled imaging device for use during breast cancer surgery. The project was one of 10 selected for funding in the latest round of the INOVAIT Pilot Fund call for applications.

Today, approximately one in four women undergoing breast-conserving surgery requires a follow-on surgical procedure.¹ For decades, the possibility of needing additional surgery has been accepted as an unfortunate reality, in part because surgeons have had no way to visualize tissue at the microscopic level during the procedure.² Claire addresses that problem, combining wide-field OCT imaging with proprietary AI to help surgeons see microscopic cancer in the operating room, guiding them to areas that warrant a closer look, particularly in the critical margin zone where cancer is most likely to be missed. Claire works alongside other intraoperative margin assessment techniques, giving surgeons additional intelligence that combines real-time imaging with AI detection support before post-operative pathology evaluation.

"We're grateful for INOVAIT's support of this work. While advances in breast cancer treatment have accelerated over the past decade, surgeons still have limited tools in the operating room to assess microscopic disease," said Perimeter CEO Adrian Mendes. "This project helps to advance what Claire's AI can do in the operating room. Better tools lead to better decisions. And better decisions can change what's possible for patients on the day of their surgery."

The project will focus on building more robust and scalable AI to support continued improvement of Perimeter's OCT+AI platform. The Company expects to receive up to nearly $148,000 in INOVAIT contributions. An additional $100,000 Mitacs Business Strategy Internship award will support graduate student participation through the university collaboration. The project is conducted in partnership with Dr. Ervin Sejdić, Professor in the Edward S. Rogers Sr. Department of Electrical and Computer Engineering at the University of Toronto.

"This project goes beyond a single model update - it's about building the next layer of Claire's AI infrastructure. By improving how we label data, characterize performance, and deploy AI on operating-room hardware, we can aim to make future enhancements faster, more robust, and more directly connected to the surgical workflow. The goal is to give surgeons increasingly precise intelligence at the moment it matters most," said David Rempel, Co-founder and INOVAIT Project Lead at Perimeter. 

The work supported by this contribution will target four specific areas: developing tools to reduce the burden of manual expert labeling required to train AI models; building a clearer understanding of how the AI performs across different tissue types and disease presentations; designing a two-tier AI architecture that combines fast initial screening with more detailed follow-up analysis; and optimizing the system for efficient performance on the hardware used in operating room environments. The future deployment of these capabilities will proceed in accordance with standard FDA review processes for class III devices.

"Perimeter represents exactly the kind of company the INOVAIT Pilot Fund is designed to support - one that has demonstrated real clinical impact and is now building on that foundation to go further," said Raphael Ronen, Co-Executive Director of INOVAIT. "Pilot Fund projects have the potential to transform patient outcomes, and we are proud to support Perimeter's work at this important stage."

INOVAIT is a pan-Canadian network funded by the Government of Canada and hosted at the Sunnybrook Research Institute with the objective of building a truly integrated image-guided therapy and artificial intelligence (AI) ecosystem, fueling continuous innovation that revolutionizes healthcare globally. Funding for this project was provided in part by INOVAIT through the Government of Canada's Strategic Response Fund.

Ce projet a été financé en partie par INOVAIT dans le cadre du Fonds de réponse stratégique du gouvernement du Canada.

Sources

¹ Metcalfe LN, Ziska AM, Yamal KS, Jacobs LK, Oker EE, Underwood HR, Thompson AM. Beyond the Margins-Economic Costs and Complications Associated With Repeated Breast-Conserving Surgeries. JAMA Surg. 2017 Nov 1;152(11):1084-1086. doi: 10.1001/jamasurg.2017.2661. PMID: 28768303; PMCID: PMC5831419.

² Levy Y, Rempel D, Nguyen M, Yassine A, Sanati-Burns M, Salgia P, Lim B, Butler SL, Berkeley A, Bayram E. The Fusion of Wide Field Optical Coherence Tomography and AI: Advancing Breast Cancer Surgical Margin Visualization. Life. 2023; 13(12):2340. https://doi.org/10.3390/life13122340.

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Claire™, recently approved by the U.S. Food and Drug Administration (FDA), is our next-generation AI-enabled device. The Company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.

For more information, please visit www.perimetermed.com.

Indications for Use: The Claire OCT System is an adjunctive three-dimensional imaging tool which provides volumetric cross-sectional, real-time depth visualization, coupled with an artificial intelligence computer-aided detection algorithm which identifies and marks focal areas suspicious for breast cancer. It is used concurrently with physician interpretation of the images. The Claire OCT System is intended for use in conjunction with other standard methods for evaluation of the margins of excised lumpectomy tissue during surgical procedures in patients with a biopsy-confirmed diagnosis of breast cancer.

The Claire OCT System should not be used to replace standard tissue histopathology assessment and should not be used for diagnosis. The device is not intended for use in any of the following individuals: under the age of 18, male, have metastatic cancer (Stage IV), have lobular carcinoma as their primary diagnosis, have had previous ipsilateral breast surgery for benign or malignant disease within two years (including implants and breast augmentation), patients with multi-centric disease (histologically diagnosed cancer in two different quadrants of the breast), unless resected in a single specimen, patients with bilateral disease (diagnosed cancer in both breasts), patients who are currently lactating, patients who are currently pregnant, or concurrent use in surgeries with cryo-assisted localization. Refer to prescriber labeling for full safety information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits and the commercialization of Claire, including the potential market size for the device and building the next layer of Claire's AI infrastructure, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2025, which is available on Perimeter's SEDAR+ profile at https://www.sedarplus.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

Contacts

Stephen Kilmer
Investor Relations
Direct: 647-872-4849
Email: [email protected] 

Susan Thomas
Media Relations
Direct: 619-540-9195
Email: [email protected] 

Adrian Mendes
Chief Executive Officer
Toll-free: 888-988-7465 (PINK)
Email: [email protected]

SOURCE Perimeter Medical Imaging AI Inc.