Imagin Gains Momentum; Positive Progress in Research Study

VANCOUVER, British Columbia and BOSTON, April 26, 2018 (GLOBE NEWSWIRE) -- Imagin Medical (CSE:IME) (OTC PINK:IMEXF) (Frankfurt & Stuttgart Symbol:DPD2) (the “Company”) is providing the following update on the Company’s current activities.

The recent closing of a Private Placement for approximately $4,000,000 reinforces Imagin’s financial runway, enabling the Company to progress through the next critical steps toward product commercialization. Imagin’s management team has been strengthened with the recent appointments of a new CFO and Director of Regulatory Affairs who add the essential experience and knowledge base in the medical device industry to drive the Company through several paths concurrently.

To date, five subjects have been evaluated using the i/Blue System. Given that this study is the i/Blue system’s initial use in a human bladder, approximately two weeks have been allowed between procedures for the development team to assess performance and to make hardware improvements, such as lenses and filters, as well as software adjustments. More subjects will be scheduled for evaluation, and further updates will be issued.  The data and knowledge Imagin is acquiring is essential in refining the images that the company believes will lead to optimal performance.

Simultaneously, the Company continues to work with Optel, Inc. on the product redesign for future clinical trials and commercialization. The miniaturization process will add significant imaging capability and lower the actual cost of the product.  In addition, documentation for federal regulatory approval continues in anticipation of meetings expected to take place during the summer months.

“This is an exciting time.  With proper funding and an experienced management team in place, we’re confident 2018 will be a pivotal year,” said Jim Hutchens, Imagin’s President and CEO.

About Imagin Medical 

Imagin Medical is developing imaging solutions for the early detection of cancer during minimally invasive surgeries. The Company believes it will radically improve the way physicians detect cancer. Imagin’s initial target market is bladder cancer, a major cancer worldwide, the sixth most prevalent in the U.S., and the most costly cancer to treat due to a greater than 50% recurrence rate. Developed at the Lawrence Livermore National Laboratory, this advanced, ultrasensitive imaging technology is based upon improved optical designs and advanced light sensors. Learn more at www.imaginmedical.com.

For further information, contact:

Jim Hutchens, President & CEO
Telephone: 617-571-6006
Email: jhutchens@imaginmedical.com

Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information.  Specifically, there is no assurance the Company’s imaging system will work in the manner expected, except as required under applicable securities legislation; the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
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