Tornado Medical Systems - Improving Tumour Margin Assessment in Breast Cancer Surgery

HTX provides $750,000 of financing to fund technical and clinical development

TORONTO, Nov. 17, 2011 /CNW/ - HTX today announced it is providing $750,000 in financing to Tornado Medical Systems Inc. through the Technology Acceleration Program to support the commercialization of the tumour Margin Assessment Machine (MAM) - a medical device enabling the assessment of tumour margins during breast cancer surgery. HTX's funding is part of a $3.7 M project which includes funding support from the Northern Ontario Heritage Fund Corporation and in-kind contributions from the Thunder Bay Regional Research Institute for development, testing, and clinical studies of the MAM.

Accurate tumour margins assessment is critical to confirm all cancerous tissue has been successfully removed. Tornado's MAM uses proprietary high resolution imaging technology to rapidly and accurately map the boundary between healthy and cancerous tissue.

Dr. Stefan Larson, the CEO Tornado Medical, states "The single biggest issue facing breast surgeons performing lumpectomies is the accurate assessment of the excised tumour's surgical margins. The current standard of care to assess tumour margins is microscopic examination by a pathologist; a procedure that has limitations in accuracy which can lead to repeat surgeries. The MAM is designed to tackle the clinical need of margin assessment head-on, based on the ability to rapidly create high-resolution images of biological tissues at depths of several millimetres. More accurate and timely confirmation of surgical margins will improve procedure outcomes and reduce repeat surgeries which are estimated to be as high as 20-30%.  We are grateful for the support from HTX that will help fund ongoing technical development and clinical trials necessary to commercialize the device."

John Soloninka, HTX's President and CEO comments, "Tornado Medical is an example of what Ontario has to offer in terms of world-class medical technology innovation that addresses significant issues in healthcare worldwide.  The MAM has the potential to directly impact the high re-excision rates associated with breast cancer surgery. This will, in turn, increase clinical efficacy, improve patient outcomes, provide higher patient throughput, and decrease the overall costs to both patients and healthcare providers."

"Tornado Medical is changing the face of health care treatment, while creating jobs and boosting our economy," said Brad Duguid, Ontario Minister of Economic Development and Innovation.  "Pinpointing the exact surgical care required for those suffering from breast cancer is key to speedy and full recovery; and key to maintaining healthy, prosperous communities."

About Tornado Medical Systems Inc.
Tornado Medical Systems is an early-stage medical imaging and spectroscopy company committed to developing innovative and proprietary devices that provide clinicians and scientists with improved tools to detect and diagnose disease. Tornado Medical System's primary focus areas are magnetic resonance imaging, optical, and nanophotonics. Tornado Medical Systems is headquartered in Toronto, Canada with locations in Thunder Bay, Canada, and Ithaca, USA. For more information about Tornado Medical Systems and its products, please visit http://tornado-medical.com.

About HTX
From Innovation through to Innovation to International Invoice, HTX supports emerging and established Ontario-based companies to develop, produce and commercialize innovative market leading advanced health technologies. For more information about the Health Technology Commercialization Program, please visit www.htx.ca.  HTX is supported by the Ontario Ministry of Economic Development and Innovation, and is a member of the provincially funded Ontario Network of Excellence - a network of organizations that help entrepreneurs turn innovative ideas into jobs.

SOURCE htx.ca - the Health Technology Exchange (HTX)

For further information:

Stephanie Evans, Operations Manager
sevans@htx.cax
647-258-0381 x221

Profil de l'entreprise

htx.ca - the Health Technology Exchange (HTX)

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.