CIMTEC Client Radialis Medical Officially Launched At Lakehead's Research Innovation Opening Ceremonies

CIMTEC is proud to take part in the official launch of our client Radialis Medical.  As part of Lakehead University’s Research and Innovation Week 2017, Radialis Medical and the associated medtech cluster in Thunder Bay was officially launched.

Radialis Medical is a joint venture of Lakehead University and the Thunder Bay Regional Research InstituteBased on research of Lakehead University Canada Research Chair Dr. Alla Reznik, Radialis Medical is developing a next-generation PEM imaging systems specifically designed for lower-dose imaging of breast cancer.  While the Radialis system uses lower-dose radiation it is still able to detect extremely small tumours.

The Canadian Minister of Employment, Workforce Development and Labour, the Honourable Patty Hajdu, was in attendance at Radialis Medical’s launch Friday March 3rd . The Honourable Reza Moridi,the Ontario Minister of Research, Innovation and Science  is touring Dr. Reznik’s lab March 6th to learn more about Radialis’ Positron Emission Mammography (PEM) and how Radialis with the assistance of CIMTEC is developing a breast imaging alternative that addresses the limitations of mammography. 

CIMTEC has not only provided mechatronic design, QMS expertise, and seed funding to their client Radialis Medical but is taking a “hands on” approach in offering business development and leadership support until the company is sufficiently well funded to engage full-time business management.  Dr. Reznik has noted that the development stage and launching of Radialis is only possible thanks to the contribution of CIMTEC and support from Mars Innovation.   She went on to give “special thanks to Michael Waterston, the Director of Business Development at CIMTEC, whose expertise and business leadership is crucial to our work”.    Dr. Reznik’s PEM research was also directly funded by contributions from the Canadian Breast Cancer Foundation and the Ontario Research Fund.

Radialis, along with XLV Diagnostics – another CIMTEC client – are now two of the medical device companies in the budding Thunder Bay Medtech Cluster.  CIMTEC is working alongside the Thunder Bay Regional Health Research Institute (TBRHRI), Lakehead University, the Northwestern Ontario Innovation Centre (NWOIC) and the Northern Ontario Heritage Fund Corporation (NOHRC)    

About CIMTEC

CIMTEC excels at accelerating the development of medical technology. CIMTEC supports and facilitates forward-thinking researchers, and enterprises, from start-ups to industry giants, in crafting their medical innovations, formulating a viable commercial product primed for clinical use, leading to improved understanding, diagnosis and treatment of human disease. CIMTEC offers an array of expertise and infrastructure including contract engineering services to help companies translate their medical innovations into commercial products for clinical use. CIMTEC has been certified by BSI to ISO 13485 under certificate number FM646075. CIMTEC gratefully acknowledge the support of our partners, including the Government of Canada through the Networks of Centres of Excellence and the Province of Ontario through the Ontario Institute for Cancer Research.  www.cimtecimaging.com

About Radialis

Radialis Medical designs, develops, tests, distributes, markets and sells detectors, systems and other technology for use in positron emission tomography technology for breast cancer imaging.

Forward-Looking Information

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements within, other than statements of historical fact, are to be considered forward looking. Although CIMTEC and Radialis believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: market demand; technological changes that could impact the Company’s existing products or the Company’s ability to develop and commercialize future products; competition; existing governmental legislation and regulations and changes in, or the failure to comply with, governmental legislation and regulations; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; adverse results or unexpected delays in clinical trials; changes in laws, general economic and business conditions; and changes in the regulatory regime. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

Related News:  http://www.cimtecimaging.com/news/meeting-minister-moridi