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DIAGNOS Has Commenced U.S. Food and Drug Administration (FDA) Registration Proce
Mar 11, 2010 10:49AM
DIAGNOS Has Commenced U.S. Food and Drug Administration (FDA) Registration Process for Its CARA Application
BROSSARD, QUEBEC, Dec. 21, 2009 (Marketwire) -- December 21st, 2009 - DIAGNOS inc. ("DIAGNOS" or "the Corporation")(TSX VENTURE:ADK), a leader in the use of artificial intelligence and advanced knowledge extraction techniques, announced today that it has begun the U.S. FDA registration process for its CARA (Computer Assisted Retinal Analysis) application with the intention of commercializing services derived from CARA in the United States in the coming months.
CARA performs a proprietary enhancement of retinal images and can automatically highlight areas of possible diabetic pathology to the user. Diabetes has been identified as a global epidemic by the World Health Organization with the number of patients skyrocketing from 30 million worldwide in 1985 to 171 million in 2000, and is estimated to reach 366 million by 2030. The rising rates of diabetes are estimated to cost the US economy $192 billion by 2020 and $490 billion globally by 2030, according to the International Diabetes Federation.
"Now that we have the Health Canada approval for our product and have started to commercialize in Canada, it is a natural next step for us to seek FDA certification to continue to expand our market. Our sales team and US partners are looking forward to establish DIAGNOS as a leader in diabetic retinopathy screening" said Andre Larente, President of DIAGNOS.
"The US market comprises a population of 17 million diabetics who need regular screening for diabetic retinopathy, and represents to us an estimated value of $120 million annually, which we intend to pursue vigorously in the coming months once we have executed our US regulatory strategy" said Peter Nowacki, DIAGNOS' Vice-President - Health.
CARA's image enhancement algorithms make standard retinal images sharper, clearer, and easier to read. It is an automated platform accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras. CARA is a cost-effective tool for processing large numbers of images, in real-time and has been issued a licence by Health Canada for commercialization in Canada.
Founded in 1998, DIAGNOS is a publicly traded Canadian corporation (TSX VENTURE:ADK), with a mission to commercialize technologies combining contextual imaging and traditional data mining thereby improving decision making processes. DIAGNOS offers products, services, and solutions to clients in a variety of fields including natural resources, healthcare, and entertainment.
For further information, please visit our website at www.diagnos.com or the SEDAR website at www.sedar.com. You may also contact our investor relations representative.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Source: Marketwire Canada (December 21, 2009 - 10:16 AM EST)