Vancouver, British Columbia--(Newsfile Corp. - December 2, 2015) - QuikFlo Health (TSXV: QF), formerly Viper Gold, began trading on the TSX Venture Exchange under the new symbol "QF", following the acquisition of all the issued and outstanding shares of QuikFlo Technologies. QuikFlo Technologies holds intellectual property that is being developed into an automated diagnostic tool which interprets computerized tomography scans of ischemic stroke patients and provides recommended treatment options to attending physicians.
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Until recently, a clot busting drug that breaks up a clot blocking blood flow to the brain has been the only standard of care for treating patients with acute ischemic stroke. Unfortunately, this treatment is only effective at recanalizing smaller distal clots (>70% success), and only succeeds in breaking up larger clots 15-25% of the time. In addition, this drug cannot be given to people taking blood thinners or those who have had recent surgery, as bleeding could result.
It is in this context that three recent randomized controlled trials have shown overwhelming efficacy of intra-arterial therapy (IAT) for the treatment of acute ischemic stroke. This therapy, which uses a catheter to manually remove clots from within the arteries that supply the brain, will now become the standard of care for patients with severe strokes caused by larger clots. However, this procedure requires a very high level of expertise and infrastructure and will therefore likely only be available at a few tertiary care hospitals.
Upon experiencing symptoms of a stroke, many patients visit their community hospitals where this expertise is limited and IAT is not available. In the cases where IAT is required, transfer to a tertiary hospital will be necessary. As 1.9 million neurons are lost per minute of stroke, it is of the utmost importance that the course of treatment is decided upon quickly and that time is not spent transferring a patient for IAT when clot busting drugs would be the appropriate treatment.
It is here that QuikFlo Health Inc. has the opportunity to fill a knowledge gap by providing their stroke triaging expertise to community hospitals through automated software that synthesizes all relevant imaging information and supports the decision to treat with drugs locally or transfer a patient to a tertiary hospital for IAT.
The shareholders of QuikFlo technologies received 30 million shares at a deemed price of $0.10 per share, for deemed consideration of $3 million. The company completed a private placement of 2 million shares at a price of $0.25, raising gross proceeds of $500,000.
The shares are currently trading at $0.20, and with 38.6 million shares outstanding, the company is capitalized at $7.7 million.
For more information about QuikFlo, please visit the company's website www.quikflohealth.com, contact Vinny Jindal, President & CEO, at 646-526-9628. For investor relations, call 647-980-7541.
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