VentriPoint Diagnostics Files Management Discussion and Analysis, Unaudited Financial Results for 2Q 2008



    
    New Date for Anticipated VentriPoint Diagnostic System Launch, Alpha
    Testing Commencement Highlight Management Discussion and Analysis

    
    SEATTLE, Aug. 29 /CNW/ -- VentriPoint Diagnostics (TSX: VPT) today
announced that it has filed its management discussion and analysis (MD&A), as
well as its unaudited financial results for the three months ended June 30,
2008, with the Canadian Securities Administrators through the SEDAR filing
system.
    
    Development Highlights
    
    In its MD&A, VentriPoint describes that because of the recent
accomplishments by its development team, the commercial product release of the
VentriPoint Diagnostic System is now anticipated to commence in January 2009
instead of March 2009 as previously expected. Other recent milestones include
the approval and commencement of alpha testing, transition of the Knowledge
Reconstruction Database to its commercial and secure off-site facility, and
initiation of the design and production of the product training guide and
user's manual.
    "Our team has been working diligently to bring the VentriPoint Diagnostic
System to market to offer accurate heart measurements in a rapid and
inexpensive manner that is not currently available," said Joseph Ashley, CEO
of VentriPoint Diagnostics. "We have commenced in-house alpha testing, and we
look forward to shipping our units for beta testing in October."
    
    Financial Highlights
    
    In its unaudited financial results, VentriPoint reported a consolidated
net loss of $1,062,182 for the three months ended June 30, 2008, or $0.03 per
share, compared to a net loss of $193,038, or $0.02 per share for the three
months ended June 30, 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 June 30, 2008, research and development
expenses totaled $651,276, compared to $143,563 for the three months ended
June 30, 2007. The largest research and development expense for the three
months ended June 30, 2008 was payroll costs to build a highly qualified
research and development team.
    VentriPoint reported a foreign exchange loss of $99,568 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 June 30, 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 accurate heart measurements in a rapid and
inexpensive manner not currently available. This breakthrough diagnostic tool
is based upon patented technology received by VentriPoint through its
exclusive 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.

    
    VentriPoint Media Contact:
    

    
    Russo Partners LLC
    Ian Stone
    (619) 814-3510
    ian.stone@russopartnersllc.com

    




For further information:

For further information: Ian Stone, Russo Partners LLC, for VentriPoint
Diagnostics, +1-619-814-3510, ian.stone@russopartnersllc.com

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