BEVERLY HILLS, Calif.--(BUSINESS WIRE)-- Cascade Technologies, Inc. (OTCBB: CSDT) announced today that its wholly-owned subsidiary Spectral Molecular Imaging, Inc. (SMI) will complete development of its new product SkinSpect™, aimed at early detection of melanoma by hyperspectral imaging, in mid-September 2010, significantly ahead of schedule. The device incorporates new advances in component technologies (optics, cameras, displays, embedded computers and software), as well as experience derived from previous prototypes developed under federal funding and tested in the clinic. The spectral range covered is also extended, now ranging from 385 nm to 920 nm.
"The resulting system when completed," noted Dr. Daniel Farkas, Chairman and Chief Executive Officer, "will be extremely versatile in acquiring high-resolution image data non-invasively from suspicious moles on the skin and under it, and will then be tested on patients, starting in early October 2010, at the University of Pittsburgh Medical Center (UPMC) Melanoma Center, one of the largest and most prestigious in the country." Part of the University of Pittsburgh Cancer Center, it serves as an international referral center for patients with melanoma and Dysplastic Nevus Syndrome. The UPMC Melanoma Center was the site of past fruitful collaborations between its clinicians and optical imaging groups led by Dr. Daniel L. Farkas.
“Working again with the impressive, dedicated medical group at the UPMC Melanoma Center will feel like a homecoming,” said Dr. Farkas, “with all members of the team knowing the task at hand to be vital and urgent, requiring our very best efforts to get our products responsibly launched according to regulatory standards. SkinSpect™ (which we tentatively and previously named MelaSpect) incorporates our multi-year R&D experience, and is technologically advanced; using it on patients in Pittsburgh will allow testing and fine-tuning it, for best outcomes.”
“We have worked very diligently to harness the great potential of hyperspectral imaging in detecting and treating disease,” added Dr. Farkas, “but nothing seems more exciting than the prospect of deploying this technology, basically derived from satellite spying, for finding early melanoma and thus materially increasing likelihoods of saving lives and reducing treatment costs.”
About Spectral Molecular Imaging
Spectral Molecular Imaging, Inc., a wholly-owned subsidiary of Cascade Technologies, Inc., 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, Inc., 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.
Spectral Molecular Imaging
Daniel L. Farkas, Ph.D.
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Technology Hardware Health Hospitals Medical Devices Oncology