Izotropic's IzoView Is Weeks Away from Final Engineering & Showcasing to Investment and Scientific Communities
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2022) - Izotropic Corporation (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3) ("Izotropic" or the "Company"), a medical device company commercializing IzoView, a dedicated breast CT (computed tomography) imaging platform, for the more accurate detection and diagnosis of breast cancers, announces that the engineering and construction of IzoView is weeks away from completion and subsequent unveiling to existing shareholders, and the investment, medical and scientific communities.
Full assembly of IzoView is approximately four weeks from completion, and the imaging subsystem is currently operational and producing static images with phantoms. Phantoms are stand-in objects for human tissue that are used to confirm the device is operating correctly. The final assembly of IzoView will be completed upon receipt of exterior parts that comprise the tabletop, footbox, and headbox, including the housing for the attached computer workstation.
Investors can expect news releases on the following milestones and corporate catalysts through to the end of 2022:
- Announcement of IzoView's full-motion, 360-degree 3D image capture of phantom images.
- Unveiling of IzoView with photographs and video.
- Further advancements of machine learning image reconstruction algorithms in partnership with Johns Hopkins University School of Medicine.
- Milestone plans with projected timelines through the clinical study to the sale of the first IzoView device.
- Overview of pricing and financial models.
- New corporate materials, social media, and marketing plans.
"I want to thank shareholders for being exceedingly patient with the various delays and my conservative nature in respect to disclosure. With the development stage coming to completion, filing of important IP and the forthcoming presentation of our device, the Company will be communicating with greater frequency as we move to the next stage," said Dr. John McGraw, CEO.
The History of IzoView Breast CT:
Four successive breast CT imaging systems have been built at UC Davis Medical Centre in California by Company Director and Principal Founder of breast CT, Dr. John M. 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.
The Company's original strategy was to closely mirror the 4th generation Breast CT device that has been under clinical investigation and clinical trials at UC Davis Medical Center and imaged close to 600 patients to date. The intention was for the Company to mirror the 4th generation breast CT unit with minor upgrades for its FDA study and finalize user and patient handling requirements afterwards. As Covid-19 set in, the Company began to factor the evolving dynamics, the impacts on supply chains, and the associated challenges of running a clinical study during a pandemic. At the same time, next-generation primary components became available, and the Company, therefore, decided to adjust the business plan to its benefit. As a result, now going into the initial clinical study, comparing IzoView with diagnostic mammography, Izotropic expects to deliver a better-performing system and have a subsequent broader product offering and a more competitively priced Breast CT system.
More than U.S. $25M has been invested across all aspects of the breast CT system, with the majority of this capital on R&D and clinical studies at UC Davis Medical Center, funded primarily by the National Institutes of Health in the U.S. Over the past 2 years Izotropic has made specific investments related to engineering capabilities, onboarding personnel, and investigating and finalizing the IzoView platform strategy. The Company has also advanced its technical planning and documentation, sourced, and purchased critical components, established redundant manufacturing sources, and implemented a quality management system, which is all necessary to make IzoView a high-performing device for mass use.
ON BEHALF OF THE BOARD
Dr. John McGraw
Investor Relations Contact:
Toll Free: 1-833-IZOCORP ext.1
Media Inquiries Contact:
Toll Free: 1-833-IZOCORP ext.3
About Izotropic Corporation
Izotropic Corporation is the only publicly traded company commercializing a dedicated breast CT imaging platform, IzoView, for the more accurate detection and diagnosis of breast cancers. To expedite patient and provider access to IzoView, Izotropic's initial clinical study intends to demonstrate superior performance of diagnostic breast CT imaging over diagnostic mammography procedures. In follow-on clinical studies, Izotropic intends to validate platform applications, including breast screening in radiology, treatment planning and monitoring in surgical oncology, and breast reconstruction and implant monitoring in plastic and reconstructive surgery.
This document may contain statements that are "Forward-Looking Statements," which are based upon the current estimates, assumptions, projections, and expectations of the Company's management, business, and its knowledge of the relevant market and economic environment in which it operates. The Company has tried, where possible,
to identify such information and statements by using words such as "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate" and other similar expressions and derivations thereof in connection with any discussion of
future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words.
These statements are not guarantees of performance and involve risks including those related to capital requirements, and uncertainties that are difficult to control or predict, and as such, they may cause future results of the Company's activity to differ significantly from the content and implications of such statements. Forward-Looking Statements are pertinent only as of the date on which they are made, and the Company undertakes no obligation to update or revise any Forward-Looking Statements to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law. Neither the Company nor its shareholders, officers, and consultants shall be liable for any action and the results of any action taken by any person based on the information contained herein, including, without limitation the purchase or sale of Company securities. Nothing in this document should be deemed to be medical or other advice of any kind. All images are for illustrative purposes only. IzoView is not yet approved for sale.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141789