DALLAS and TORONTO, Feb. 29, 2024 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) ("Perimeter" or the "Company") – a commercial-stage medical technology company – announced results from a peer-reviewed retrospective study¹ examining the integration of Wide Field Optical Coherence Tomography (WF-OCT) with Perimeter's proprietary and investigational "ImgAssist" artificial intelligence technology, an AI-driven clinical decision support system created to enhance productivity and decision making in breast cancer surgery margin assessment.

From a clinical perspective, the deep learning model showed high levels of sensitivity and specificity, accurately identifying 96.8% of pathology-positive margins. These results highlight the clinical viability of AI-enhanced margin visualization using WF-OCT in breast cancer surgery and its potential to decrease reoperation rates due to residual tumors.

Adrian Mendes, Perimeter's Chief Executive Officer, stated, "We have a training dataset of several million proprietary images of both cancerous and healthy tissue captured with our OCT imaging technology. Our world-class AI team has developed models tailored for real-time applications in healthcare settings and used our vast image library to train these models to achieve an industry-leading result. Perimeter's AI leadership represents a key value driver as we build a product pipeline that aims to improve surgical outcomes and broaden our addressable market through a variety of tissue types beyond breast."

An ongoing, multi-center, randomized, two-arm, pivotal clinical trial – led by Principal Investigator, Dr. Alastair Thompson at Baylor College of Medicine – is evaluating the use of Perimeter B-Series OCT combined with its proprietary ImgAssist AI software during breast conservation surgery. Perimeter intends to conduct a planned interim analysis in the second quarter of 2024, with study completion anticipated by the end of 2024.

About Perimeter Medical Imaging AI, Inc.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States.

Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit www.perimetermed.com/disclosures.

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Forward-Looking Statements

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