Proactive Investors - Run By Investors For Investors
Why invest in VPT?
VentriPoint Diagnostics Ltd.: DEEP DIVE
OVERVIEW

VentriPoint Diagnostics' heart monitoring tech further boosted by agreement with Canadian government

The goal of the program is to extend the visualization extracted from 2D ultrasound images and visualize 4D images
VentriPoint Diagnostics' heart monitoring tech further boosted by agreement with Canadian government
OVERVIEW: VPT The Big Picture
VentriPoint's technology is aimed at identifying heart problems early on

VentriPoint Diagnostics Ltd (CVE:VPT) unveiled another boost for its technology  - an agreement with the Government of Canada to develop further its heart monitoring system.

The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) will provide advisory support and conditional funding to share costs of a project designed to accelerate the company's VMS+ system's next-generation product.

READ: VentriPoint Diagnostics receives order for its VMS Plus - from leading cardiac hospital in Toronto

The goal is to extend the visualization extracted from 2D ultrasound images of the heart to construct and visualize 4D images.

"Currently, 4D products are available in the marketplace and while they have improved significantly, they still are only able to get useable images in 60% of people for the basic heart analysis and, therefore, are only used for research purposes," said Ventripoint in a statement.

Ventripoint's heart analysis machine provides medics with a more efficient and cost-effective method for evaluating cardiac volumes and ejection fractions.

Its accuracy already matches that of the MRI (Magnetic resonance imaging (MRI) scan), the gold standard, so there is a significant opportunity for the unique 4D VMS+ system in the market, the firm reckons.

Also in today' statement, Ventripoint revealed it had entered into a business development contract for a term of six months.

Under the deal, which is subject to the approval of the TSX venture exchange, Ventripoint will pay the consulting fee of US$150,000  via shares at the end of the term, with the number of shares being determined by the market price at the time of issue.

On Monday, the company said that St. Michael's Hospital in Toronto had ordered its VMS Plus system to use it to assess cardiac patients

Dr Howard Leong-Poi and Dr Chi-Ming Chow are spearheading the VMS+ acquisition.

Leong-Poi is the head of the cardiology division at St. Michael's Hospital and a clinician-scientist in the Keenan Research Centre for biomedical science.

"We are very pleased to have the interest and commitment from such a high profile cardiac institution in our own backyard," said Desmond Hirson, the president of VentriPoint.

"We believe that our AI technology and product in the hands of Drs. Leong-Poi and Chow will make a valuable difference to patient outcomes."

 

Contact Giles Gwinnett at [email protected]

Follow Giles on Twitter @Gile74

View full VPT profile View Profile

VentriPoint Diagnostics Ltd. Timeline

Related Articles

cancer scan
January 03 2019
The company, which owns a piece of software which predicts the effects of drugs on cancers, has recently extended a lucrative agreement with German firm Merck Serono while it has also signed a strategic collaboration with the Medicines Discovery Catapult
Weight loss
January 07 2019
A deal with Indian firm Zeon Lifesciences in January is the ninth deal the firm has secured for the weight loss product
Widecells
September 27 2018
WideCells has undertaken a review of the business to deliver a strategy that will generate revenue, reduce overheads and achieve profitability
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use