- Imagin Medical Inc. is a surgical imaging company building a platform of technological products designed to improve endoscopic surgeries through adaptable equipment that makes it easier to see anomalies such as cancerous tumors
- The company’s initial product launch will focus on bladder cancers visible under blue light thanks to a dye on the market that currently depends on the acquisition of expensive new equipment by hospitals
- Imagin’s proprietary i/Blue Imaging (TM) System resolves some of the expense and flexibility concerns expressed by urologists, which will grant surgeons the capacity to better root out cancers
- Imagin has announced an offering of up to $3 million in aggregate principal in convertible notes, and closed the initial $750,000 tranche last month
Science fiction introduced the world to the concept of the invisible man — a person who could move through society without anyone knowing where he was. Imagin Medical (CSE: IME) (OTCQB: IMEXF) has improved on the trope of science fiction, making it possible to better see the “invisible” interior recesses of men and women during medical procedures so that surgeons can more effectively root out cancers in a minimally invasive manner.
Imagin Medical will launch its platform with the introduction of the i/Blue Imaging (TM) System, a proprietary imaging technology based on advanced optics and light sensors. The value of Imagin’s platform is that it makes surgery-revolutionizing technology more available to hospitals by providing it in manner adaptable to the equipment hospitals already own.
“One very good technology that has been developed is what’s known as blue light cystoscopy,” Kaiser Permanente urologist Mehrdad Alemozaffar explains in an Imagin webinar on the company’s technology (https://ibn.fm/Y9Qu2).
“Cysview is the drug that’s used,” Alemozaffar states. “What’s done with blue light cystoscopy is that the drug is instilled into the bladder just before the patient goes to the operating room and in the operating room a camera … emits a blue light and, essentially, any cancer would have taken up that drug much more rapidly, and under this blue light actually shines back at us a very bright pink color.”
The pink definition of the tumor allows surgeons to see the cancer better than if they were looking at it under standard white light. The company’s webinar states that the blue light procedure helps identify 25 percent more tumors but that it is used in less than 10 percent of urological procedures, despite its recommendation by the American Urological Association, in part due to the prohibitive costs of the equipment involved as well as the challenges of switching back and forth between white and blue light systems during the course of the procedure.
Imagin’s tech “addresses the limiting factors of current blue light with one easy-to-use integrated system,” the webinar narrator states, by displaying white and blue light images side-by-side simultaneously on the surgeon’s monitor and by providing a device that consolidates the surgical light source, video camera and data recording technology in an implement that is adaptable to almost any scope on the market.
“Leading urologists have told us that the ability to see both images at the same time will allow them to efficiently eliminate more cancer cells,” the narrator states. “No matter which standard scopes a hospital owns today, they cannot use blue light with them. Imagin solves this problem with a system-agnostic camera head that will work with almost any standard cystoscope that a hospital already owns.”
The company’s initial i/Blue Imaging product is purposed for bladder cancer surgeries, but the company intends to expand its technology for multiple endoscopic medical procedures in the future, including laparoscopic, colorectal and thoracic procedures that use a variety of contrast dye agents and illumination sources.
Last month, the company closed the first $750,000 tranche of a proposed investor offering of up to $3 million in aggregate principal (https://ibn.fm/HhVRg) in convertible notes. The notes can be converted to units that will be made up of one post-consolidated common share, a one-half common share purchase warrant exercisable at $0.50 USD and a one-half common share purchase warrant exercisable at $0.60 USD.
The notes will accrue 10 percent interest annually, payable semi-annually in arrears; and will mature 18 months following the date of issue, according to the company (https://ibn.fm/LCAFo).
For more information, visit the company’s website at www.ImaginMedical.com.
NOTE TO INVESTORS: The latest news and updates relating to IMEXF are available in the company’s newsroom at https://ibn.fm/IMEXF
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