VentriPoint Diagnostics Files Management Discussion and Analysis, Audited Financial Results for First Quarter 2008



    
    Acquisition of images for Two Additional Knowledge Based Reconstruction
    Databases Highlights of Management Discussion and Analysis
    

    SEATTLE, June 3 /CNW/ -- VentriPoint Diagnostics (TSX: VPT) today
announced that it has filed its management discussion and analysis (MD&A), as
well as its audited financial results for the three months ended March 31,
2008, with the Canadian Securities Administrators through the SEDAR filing
system.
    
    Development Highlights
    
    In its MD&A, VentriPoint describes that, subject to image processing and
validation testing, it has received enough images to populate its disease
specific database used to complete Knowledge Based Reconstruction for patients
impacted by two additional diseases.  These disease states, systemic right
ventricle and right ventricle to pulmonary artery conduit, will be the second
and third databases, respectively, of four that comprise the first commercial
offering of the VentriPoint Diagnostic System.  The company anticipates that
validation testing will commence by July 1, 2008, and August 1, 2008,
respectively.
    "As we describe in the MD&A, the completion of these database are
substantial milestones as we move closer to the first commercial offering of
the VentriPoint Diagnostic System," said Joseph Ashley, CEO of VentriPoint
Diagnostics.  "These databases will be referenced as the System creates
accurate reconstructions and measurements of disease impacted hearts in a
rapid, cost effective manner that is not available today."
    
    Financial Highlights
    
    In its audited financial results, VentriPoint reported a consolidated net
loss of $892,931 for the three months ended March 31, 2008, or $0.02 per share
compared to a net loss of $219,732, or $0.02 per share for the three months
ended March 31, 2007.  The increase in net loss is attributed to planned
expenditures to accelerate the development of the VentriPoint Diagnostic
System.
    For the three months ended March 31, 2008, research and development
expenses totaled $536,226, compared to $137,676 for the three months ended
March 31, 2007.  The largest research and development expense for the three
months ended March 31, 2008 was payroll costs to build a highly qualified
research and development team.
    VentriPoint reported a foreign exchange loss of $108,863 as the result of
a change in the currency exchange rate used to translate Canadian monetary
items into the US dollar on the date of translation of March 31, 2008.
    
    About VentriPoint Diagnostics
    
    VentriPoint creates diagnostic tools to monitor patients with heart
disease -- the number one cause of death in developed countries.  By using
images produced from existing medical imaging systems, the VentriPoint
Diagnostic System generates critical heart measurements in a rapid and
inexpensive manner not currently available.  This breakthrough diagnostic tool
is based upon technology received by VentriPoint through its technology
license with the University of Washington.  The VentriPoint Diagnostic System,
together with its associated online service, is being developed for a variety
of heart related disease states, including congenital heart disease.

    
    For further information, please contact:
    Edward Garth, Chief Financial Officer
    VentriPoint Diagnostics Ltd.
    Telephone:  (206) 283-0221, ext. 402
    Facsimile:   (206) 283-2309
    
    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.




For further information:

For further information: Ian Stone of Russo Partners LLC for
VentriPoint,  +1-619-814-3510, ian.stone@russopartnersllc.com; or Edward
Garth, Chief  Financial Officer VentriPoint Diagnostics Ltd., +1-206-283-0221,
ext. 402,  Facsimile, +1-206-283-2309

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