Cascade Technologies Corp. (OTCBB: CSDT) announced today that its wholly-owned subsidiary, Spectral Molecular Imaging, Inc. (SMI), completed, under a previously introduced accelerated timeline, the development of its initial product SkinSpect™, aimed at early detection of melanoma by the company's proprietary form of hyperspectral imaging. The new instrument was unveiled on September 29 at SMI’s corporate headquarters in Beverly Hills, to a group of colleagues, medical professionals and device experts and other interested persons. "SkinSpect™," according to Dr. Erik Lindsley, President of SMI, "incorporates advances in hyperspectral imaging, autofluorescence measurement and polarization-gated detection achieved by SMI researchers and consultants through experiences cumulatively reaching more than 100 years. The software controlling image acquisition and handling is completely new, driven by an intuitive touch screen interface and allowing effortless data and patient monitoring, image archiving and analysis, and internet-based data transfer and tele-consults; its design is compliant with and conducive to electronic medical record generation and tracking."
"The new system," noted Dr. Daniel Farkas, Chairman and Chief Executive Officer, "is extremely versatile in acquiring high-resolution image data non-invasively from suspicious skin lesions, on the surface and under it, with a speed that minimizes motion artifacts.” “Moreover," added Dr. Farkas, "we have diligently applied the great potential of hyperspectral imaging in detecting disease with high sensitivity and specificity in the past but nothing seems more exciting to us than the prospect of deploying this technology - upon regulatory approval - for finding early melanoma and thus materially increasing likelihoods of saving lives and reducing treatment costs -- clearly unmet needs today.”
About Spectral Molecular Imaging
Spectral Molecular Imaging, Inc., a wholly-owned subsidiary of Cascade Technologies Corp., is a development-stage, medical imaging device company, applying its proprietary hyperspectral-optical imaging technology—originally developed for satellite reconnaissance—to advance the early and accurate diagnoses of cancer and precancerous conditions. SMI is developing non-invasive imaging systems using its patented technology and other proprietary knowhow for improved clinical diagnostics, primarily in the field of cancer pathology. SMI’s devices utilize high-resolution imaging, identification, and analysis of certain molecular, cellular, and tissue features via patented spectral imaging approaches. We expect to provide services related to our primary products, including software modules and maintenance services, and to develop optical diagnostic products that operate in conjunction with surgical and/or evaluation procedures in real time. We believe that our technology will enable early detection and more reliable diagnosis of various diseases, such as melanoma, Barrett’s esophagus (a condition caused by chronic acid reflux that can lead to esophageal cancer) and lung cancer. We expect that medical devices using or based on our developed technology can significantly improve long-term patient outcomes and may substantially reduce overall costs for the healthcare system. For more information, please visit http://www.spectralmi.com.
This news announcement contains or may contain certain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, without limitation, statements regarding SMI's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. Such forward-looking statements are subject to significant risks and uncertainties, including those detailed in filings made by Cascade Technologies Corp., SMI's parent, with the Securities and Exchange Commission. Accordingly we caution our readers that actual results may differ materially from our beliefs or expectations due to economic, business, competitive, market and regulatory factors. We assume no obligation or undertaking to update any forward-looking statements to reflect any changes in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. You should, however, review additional disclosures we make in the reports filed with the Securities and Exchange Commission.
Daniel L. Farkas, Ph.D.