(TheNewswire)
Toronto, Ontario / TheNewswire / November 14,
2018 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT) is pleased to announce
that it has entered into a Contribution Agreement with the Government of Canada. The National Research Council of Canada
Industrial Research Assistance Program (NRC IRAP) will provide both advisory support and conditional funding to share the costs of
a project designed to accelerate the further development of the Ventripoint VMS+ system’s next-generation products.
The goal of the project is to extend the current technology for advanced visualization extracted from 2D
ultrasound images of the heart to construct and visualize 4D from 2D ultrasound images. 4D is the real time display of the beating
heart in a 3-dimensional view, with quantification of the movements as well as 2D measurements. The project also aims to include
the addition of advanced measurements for Wall Motion Velocity and Left Ventricle Mass, to further aid the clinician in assessing
the cardiac disease state.
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. The VMS+ system’s accuracy matches that of the MRI, the gold standard, providing a
significant opportunity for the unique 4D VMS+ system in the market.
For the clinician, the Ventripoint solution of 4D display will provide additional information about the motion
of the different chambers of the heart throughout the cardiac cycle, quickly and reliably. The provision of both quantitative and
qualitative information essential for complete assessment of the cardiac condition is the major goal of this project.
In other news, Ventripoint announces that it has entered into a business
development contract for a term of six months. Under the contract, and subject to the approval of the TSX Venture Exchange,
the Company will pay the consulting fee of US$150,000 with common shares at the end of the contract term, with the number of common
shares being determined with reference to the market price at the time of issuance.
About Ventripoint Diagnostics
Ltd.
Ventripoint’s technology is a leading Artificial Intelligence (AI) approach known as Knowledge-Based
Reconstruction (KBR), used to create applications to monitor heart disease, a leading cause of death worldwide. The VMS+ is the
first cost-effective and accurate AI tool for measuring whole heart function using conventional ultrasound. The Company has
developed a suite of applications for all major heart diseases and is actively commercializing the approach to improve cardiac
care.
For further information please contact:
Dr. George Adams, CEO, Telephone: (519) 803-6937
Email: gadams@ventripoint.com
Forward Looking Statements:
This news release contains forward-looking statements and forward-looking information within the meaning of
applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking
information or statements. The forward-looking statements and information are based on certain key expectations and assumptions
made by the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and
information because the Corporation can give no assurance that they will prove to be correct. Since forward-looking
statements and information address future events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Other
factors, which could materially affect such forward-looking information are described in the risk factors in the Corporation's most
recent annual management’s discussion and analysis that is available on the Corporation’s profile on SEDAR at www.sedar.com.
Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news
release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news
release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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