Today, VentriPoint Diagnostics reported receiving an expanded license from Health Canada that allows the company to sell the VMS™ heart analysis system for clinical use in Canada. The expansion was for the NRV™ application for the analysis of 2-D ultrasound images for patients with non-specific heart disease. The NRV™ application will enable healthcare providers to rapidly and accurately assess the status of the right ventricle in all patients that do not have significant congenital heart defects or pulmonary hypertension, yet may have a variety of other conditions.
VentriPoint's VMS-2DE™ heart analysis system will be used in conjunction with the NRV™ database for patients where knowledge of the function of the right heart would be useful in assessing the overall heart function and optimally treat the patient. Heart disease and stroke costs the Canadian economy more than $20.9 billion every year in physician services, hospital costs, lost wages, and decreased productivity (Conference Board of Canada, 2010). It is estimated that there are 1.5 million Canadians living with heart disease and about 10% of them die each year. There are also 300,000 hospitalizations for heart failure each year and this accounts for 17% of all hospitalizations.
The addition of the NRV™ application to the VMS™ heart analysis systems will provide a direct avenue for clinicians to better evaluate and care for these individuals. VentriPoint believes that the NRV™ application can also be used to provide a reference baseline study for patients at risk for developing right heart dysfunction and would benefit from frequent monitoring.
The VMS-2DE™ is approved for clinical use in Europe and Canada and is available for investigational use only in the United States.
VentriPoint today also corrected a press release from last week. In conjunction with the final closing of the offering announced March 1, 2013, VentriPoint paid cash commissions of $10,296 and issued 102,960 agent's options ("Agent's Options"). As a result of the two closings, VentriPoint raised gross proceeds of $933,700 and paid total cash commissions of $26,776 and issued 267,760 Agent's Options.
Each Agent's Option is exercisable into one Common Share for a period of 18 months from the date of issuance at a price of $0.10 per Common Share. All securities issued pursuant to the Offering are subject to a four-month hold period pursuant to applicable securities legislation. The proceeds made available through the sale of Units will be used for the general working capital needs of the company.
For more information, visit ventripoint.com
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