| OmniCorder Technologies (OCT) has just begun clinical testing of a new noninvasive technology for early detection of breast cancer. What is new is the use of the technology for medicine, not the technology itself, which is High Resolution Digital Infrared Imaging. This digital sensor technology was developed for the U.S. Department of Defense and NASA for surveillance, weapons targeting, earth science and astronomical applications. |
| The technology affords significant benefits to patients, physicians and health systems. Among other things, it avoids the use of ionizing radiation and breast compression, promises to provide a means of finding breast cancer earlier, and helps reduce the number of unnecessary surgical biopsies. |
| OCT plans to market its technology as a service, not a medical device. The company intends to partner with health care providers, to which it will license equipment for screening and diagnostic services. |
| Initial testing has been completed, clinical testing has just begun, and commercialization is scheduled to begin by the end of 1998. |
| Upon completion of FDA PMA trials for stand-alone breast cancer screening the company plans to begin researching other disease detection applications, such as diabetes and skin cancer, and to do develop related spin-off products. |
| The company, which was founded in 1996, currently is seeking financing. Its plan was presented by Mark Fauci, President and CEO. A panel of venture capital and business experts critiqued the plan and provided suggestions, as did the audience. |
| DATE: |
Wednesday evening, February 11, 1998 |
| PLACE: |
Chase Manhattan Bank, 270 Park Ave. (47th St.), NYC. 11th Floor |
|
|