Imalux signs China distribution agreement and commences Australia and New Zealand market development activity

Cleveland 17 March 2006Imalux Corporation, a medical device company specializing in the development and marketing of advanced imaging systems based on Optical Coherence Tomography (OCT) technology, has signed a distribution agreement with Beijing Goodwell Company Limited of Beijing, China to promote, sell, and service the Niris Imaging System in the mainland China market. The company also has commenced market development and product introduction activity with their exclusive distributor Device Technologies Australia.

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Imalux developed, manufacturers and markets the Niris Imaging System to assist physicians in their diagnosis, treatment, and therapeutic monitoring of disease in urology, gastro-enterology, gynaecology, dermatology, dentistry, and ENT applications.

Beijing Goodwell Company Limited, formed in 1994, is focused on the promotion, sales and service of advanced medical devices in China. The 110 employee company has a strong sales and service network throughout China, distributing products in imaging, urology, cardiology, anaesthesia, and oncology from companies such as GE, B. Braun Medical, and Respironics.

Upon completion of product registration in China, Imalux will commence unit shipments. Imalux will conduct image interpretation, sales and service training within the upcoming months with the staff of Beijing Goodwell Company Limited, and also train their key opinion leaders in the mainland China market on image interpretation and utilization.

Jerry C. Cirino, President and Chief Executive Officer of Imalux, stated: "The signing of this distribution agreement is a strong example of our desire to expand the adoption of our technology and delivery systems to the global marketplace in our targeted clinical applications. We look forward to strong mutual success in the China market."

Market development activity in Australia and New Zealand includes image interpretation training for Device Technologies Australia sales and marketing personnel. In addition, the Niris Imaging System is being presented at a major urology meeting in Brisbane, Queensland, Australia, the Urological Society of Australasia 2006 Annual Scientific Meeting, the largest and most significant gathering of over 500 professionals in the field of Urology in Australasia.

Device Technologies Australia has extensive experience in market development and new technology introduction with such companies as STERIS Corporation, Intuitive Surgical, and Boston Scientific. Their strong reputation and established relationships throughout the Australia and New Zealand market will greatly assist in the market acceptance of the Niris Imaging System.

Jerry C. Cirino stated: "The commencement of our next phase in the market development process in Australia and New Zealand is extremely gratifying. We are especially pleased to be associated with one of the largest medical device distributors in Australia and New Zealand and to have the opportunity to build upon their past market development and product introduction successes."

Imalux Corporation, based in Cleveland, Ohio, is commercializing Optical Coherence Tomography technology originally developed at the Institute of Applied Physics of the Russian Academy of Sciences, one of the main progenitors of OCT technology worldwide. The application of the proven OCT technology is on the verge of becoming the sixth major imaging modality.

The company's Niris Imaging System is a compact, point-of-care system that creates images utilizing harmless, near infrared light. Niris provides clinicians with real-time, high spatial resolution, two-dimensional, cross-sectional depth visualization of normal and abnormal tissue microstructures The spatial resolution of the system is on the order of 0,01 mm, surpassing conventional ultrasound imaging by an order of magnitude.

Imalux OCT technology has been under evaluation with physicians in a number of speciality areas and has been used with more than 3000 patients worldwide at leading medical institutions including the Cleveland Clinic, the George Washington University Medical Center, Baylor College of Medicine/the Methodist Hospital, University Hospitals of Cleveland, Nizhny Novgorod Medical Academy and Regional Hospital, Nizhny Novgorod, Russia; Municipal Hospital, Chartres, France; State Hospital, Athens, Greece; University Clinic of Eppendorf, Hamburg, Germany; and Hospital Maternidad Nuestra Senora de la Altagracia, Santo Domingo, Dominican Republic.

The Niris Imaging System has received market clearance from the United States Food and Drug Administration. In addition, Imalux has been awarded ISO 13485-2003 accreditation and CE mark certification for the Niris Imaging System. More company news is available in the VMW February 2005 article Imalux Corporation receives final FDA clearance to market the Niris imaging system.


Leslie Versweyveld

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