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February 18, 2004 08:01 AM US Eastern Timezone
Medtech Insight 2004 Investment in Innovation
IRVINE, Calif.--(BUSINESS WIRE)--Feb. 18, 2004--Monteris Medical Inc. will be presenting on Tuesday, February 24, at Medtech Insight's Prestigious "Investment In Innovation" Event, taking place February 24-25, 2004, at the Hyatt Regency Irvine in Irvine, California.
Approximately 190,000 new brain tumors are diagnosed each year in the United States. The majority of these brain tumors are a result of metastasized cancers that originated elsewhere in the body. Brain metastasis occur in 20 to 40% of all cancer patients. There are more then 300,000 treatments per year for the management of brain tumors.
Monteris Medical Inc. is developing a product line around a process that has the potential to fundamentally change the standard of treatment for tumors. LITT, or laser interstitial thermal therapy is a therapy in which energy from a laser is directed into a tissue such as the liver, kidney or brain. The AutoLITT(TM) system is an automated or 'smart' version of this standard thermal therapy. The AutoLITT(TM) system directs the energy to a particular spot so that lesions of varying sizes may be precisely treated. The energy that is deposited heats up the surrounding tissue therefore coagulating the tissue; so in fact the energy is 'killing' the cells. This process of minimally invasive precision thermal therapy will be used for the treatment of deep seated brain tumors.
Using this concept, Monteris is developing a laser probe that can be precisely inserted in the treatment area of the patient (i.e., an inoperable brain tumor). The patient is taken to the MRI (magnetic resonance imager) where the entire treatment procedure is performed. Because the MRI can take scans of the treatment area every 3-4 seconds it returns real time feedback to the surgeon which allows for precise treatment. The entire volume of the affected tissue is treated in sections and once the surgeon is confident that all areas of the tumor have been treated the surgeon ceases therapy. Because the procedure is minimally invasive, the patient has a small incision that requires closure before the procedure is complete.
The AutoLITT(TM) system will provide access to inoperable tumors and a minimally invasive system for tumors that are currently only treatable with conventional therapies that have significant side effects. This lower cost treatment enhances patient outcomes, and offers the ability for multiple treatments.
Monteris Medical secured $7.2 million of Series 'A' financing in June 2003. This funding is sufficient to allow the company to move from research and development into animal and subsequent initial phase of human clinical trials in late 2004. The company anticipates a series 'B' financing in early 2005.
About Medtech Insight
Medtech Insight's "Investment In Innovation (In3): A Preview of Early-Stage Medical Technology Companies" conferences are considered the premier forum for senior executives in the medical technology and investment community to preview emerging medtech companies in need of funding, acquisition and/or strategic partnership. In addition to conferences, Medtech Insight publishes the "medtech insight" newsletter, a monthly publication covering the latest trends and innovations in the medical technology industry, analyses of medtech markets through its Reports group, and offers custom consulting and market research. To register for the Irvine conference or for more information on Medtech Insight, please call Scott Pantel at (949) 219-0150 or (888) 290-2225 toll-free in the U.S., e-mail in3@medtechinsight.com, or visit http://www.medtechinsight.com/in3-10.html.
For more information on Monteris Medical Inc. please contact:
Thomas J. McGoldrick, Chief Executive Officer
351 Tache Avenue
Winnipeg, Manitoba, Canada R2H 2A6
tmcgoldrick@monteris.com
www.monteris.com