- Ventripoint will market new advances following Health Canada approval
Toronto, Ontario – TheNewswire - August 12, 2024 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT; OTC:VPTDF) has reached another development milestone by submitting its next generation of software, VMS+4.0, to Health Canada for a Medical Device License to market the upgraded product in Canada.
This latest advance of Ventripoint’s AI-powered technology, which rapidly processes ultrasound images of the heart to generate MRI-quality measurements of all four cardiac chambers, is designed to integrate into the workflow of hospitals, clinics and caregivers.
Upon issuance of the Medical Device License, Ventripoint will market the new version of VMS+ to Canadian customers. “It has taken our team two years of research and development to reach this major milestone,” said Ventripoint President and CEO, Hugh MacNaught. “VMS+4.0 promises to become one of the simplest, cost effective, and non-invasive heart-imaging tools in the market.”
Ventripoint submitted VMS+4.0 for licensing to Health Canada on July 25th as a new Class II Medical Device Application with software and hardware updates and featuring diagnostic advances. VMS+3.0 has already received regulatory clearances from US-FDA, Health Canada, the United Kingdom (U.K.) and the European Union (E.U.) and is being used by leading hospitals in the U.S., E.U., U.K. and Canada. We are also pursuing regulatory clearance in other key markets such as the E.U., U.K and U.S.A. to make this newest version of VMS+ available to the global community.
About Ventripoint Diagnostics Ltd.
Ventripoint is an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint's VMS products are powered by its proprietary Knowledge Based Reconstruction technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements equivalent to MRI. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. Providing better care to patients serves as a springboard and basic standard for all of Ventripoint's products that guide our future developments. In addition, VMS+ is versatile and can be used with all ultrasound systems from any vendor supported by regulatory market approvals in the U.S., Europe, and Canada.
For further information, please contact:
Hugh MacNaught
This email address is being protected from spambots. You need JavaScript enabled to view it.
604-671-4201
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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 Company. Although the Company 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 Company 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. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company'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 Company 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.
