Additional Updates On New Initiatives, and
Amendment to LOI on H'andy Sana 211 Provided
at Upcoming AGM scheduled for Thursday, January 27th
MISSISSAUGA, ON, Jan. 12 /CNW/ - MedX Health Corp., (TSXV.MDX) a global leader in drug free, non-invasive low level laser and light
therapy for tissue repair and pain relief, announced today that they
will update shareholders at the Annual General Meeting of Shareholders,
scheduled for Thursday, January 27th, 2011 at The National Club, at 303 Bay Street, Toronto, ON, at 4:00 PM
(Toronto time) on the following key developments:
MedX has signed an agreement for the exclusive distribution rights to
sell MoleMate in the US, Canada, and Mexico through a subsidiary of
Biocompatibles International plc (LSE:BII.L). It involves the launch of
MoleMate in the US, through a network of direct representatives calling
on General Practitioners, Dermatologists and skin screening clinics and
spas. MoleMate is a skin screening diagnostic aid, which is FDA
approved and currently sold in Australia and the UK. MedX anticipates
regulatory approval in Canada and Mexico in 2011.
Progress report on the exclusive distribution agreement with Vet
Novations Canada for the direct promotion of MedX laser and light
devices within the veterinary market, outlined in the press release of
September 30, 2010.
Further details of the launch of a comprehensive smoking cessation
program in the USA utilizing laser devices from MedX.
Announcements of key developments in its core laser business through RJ
Laser and updates on International operations.
Amendment of LOI with Medical Marketing Berlin ("MMB") related to the
H'andy sana 211 cell phone with integrated ECG capabilities. The LOI
will lapse in its current form and will be replaced by an agreement of
cooperation to develop and sublicense the H'andy sana 211 together with
MMB for the North American market. MedX shall update the market at
regular intervals on progress towards this initiative in 2011.
Accordingly, MedX will not issue the 27M common shares contemplated by
the LOI as disclosed in the press release of July 29, 2010. Mr. Andy
Rösch, Managing Director at MMB will leave the MedX Board but may
re-join the MedX Board of Directors if MedX and MMB sign a definitive
agreement of cooperation in the future regarding the ECG phone.
"In addition to our strong growth in International sales throughout
2010, in the last quarter of the year we entered into several key
distribution agreements, which should accelerate our revenue growth in
2011. We are also continuing to evaluate other medical device
opportunities, similar to the rights to the skin analysis system,
MoleMate, from Biocompatibles, which will take MedX beyond the
traditional small and low growth rehab/sports medicine market into a
large rapidly expanding market," stated Steve Guillen, president and
CEO of MedX Health Corp.
MedX has signed an agreement for the exclusive rights to market and sell
Biocompatibles skin screening products in the US, Canada, and Mexico.
The agreement is with Biocompatibles UK Ltd, the manufacturer of the innovative skin analysis system. MoleMate and
its related technologies are currently available and being utilized by
physicians in the United Kingdom, and Australia. http://siascopy.biocompatibles.com
The technology has been evaluated in three (3) clinical trials which
have recruited more than 1500 patients assessed with MoleMate. In a
substantial UK primary care trial, the rate of Sensitivity (True
Positives) and Specificity (True Negatives), the key yardsticks of
diagnostic tests, were 96% and 83% respectively, and compared
favourably on both measures with benchmark rates from GPs using
conventional techniques of 67% and 75% respectively. (Hunter et al:
Data presented at the British Association of Dermatologists, July
MoleMate utilizes Siascopy™ composed of (a) a non-invasive, hand held
skin analysis system called the Siascope™ and (b) several versions of
proprietary software. The device is intended to be used to scan the
patient's skin. Siascopy (Spectrophotometric Intracutaneous Analysis)
is a non-invasive skin analysis system, which provides colour bitmaps
called 'Siascans' that show the relative location of blood, collagen,
and pigment in a lesion on the skin.
The Siascope operates by illuminating the skin with LEDs and measuring
the intensity of remitted light. Unlike biopsy, Siascopy is
non-invasive and provides an array of quantitative measurements of the
skin that are displayed in graphical form creating a synthesized image
called a Siascan. Each Siascan isolates four (4) critical features
(Pigment, Dermal Pigment, Blood Supply, and Collagen) viewed over an
11mm diameter area and displays it in conjunction with a magnified
'dermatoscope' view of the lesion. This data is extremely useful as an
adjunct in the clinical diagnosis of skin lesions and other skin
conditions and as an adjunct in the planning of their treatment.
About MedX Health Corp.
MedX is a leading North American developer and manufacturer of low level
laser and light medical devices for the drug free and non-invasive
treatment of tissue damage and pain in numerous medical settings
including dental, rehabilitation and wound care. MedX is the world's
only company focusing on developing and delivering a broad
cross-section of technologies and products involved in healing using
light therapy. MedX is committed to advocating for, the bringing of
non-invasive, drug-free healing nature of light to people seeking
relief from pain and other physical ailments.
MedX's strategy is to build upon its success in bringing relief of
conditions in a non-pharmacologic manner in the rehabilitation market
through key partnerships, acquisitions, strong patent protection as
well as developing and commercializing advanced products in the dental
and wound-care markets that will position the company to increase
revenue. In addition, MedX plans to accelerate the development of a new
product aimed at the rapidly-growing wound care market: its "Photobandage™", a bandage technology that allows a wound to be bathed in light,
designed to enhance the healing process. The Company intends to license
this new technology to one or more major wound care companies for
further development of marketing and sales.
Brand products are US FDA approved, Health Canada cleared, and CE Marked
and are produced in an ISO 9001 and 13485 certified manufacturing and
testing facility. For a complete profile of MedX Health Corp. and its
products visit www.medXhealth.com
About Biocompatibles International plc (www.biocompatibles.com)
Biocompatibles International plc is a leading medical technology company
in the field of drug-device combination products.
Biocompatibles International plc's shareholders have approved a Scheme
of Arrangement under which the company will, subject to Court approval,
be acquired by BTG plc. The effective date of this acquisition is
expected to be 27 January 2011.
The Oncology Products Division supplies medical devices from facilities
in Farnham, UK and Oxford, CT. These include Drug-Eluting Bead Products
which are used in more than 40 countries for the treatment of primary
liver cancer (HCC), liver metastases from colorectal cancer, and other
cancers; and Brachytherapy products (Radiation-Delivering Seeds) which
are used in the treatment of prostate cancer. Distribution partners
include AngioDynamics Inc., Terumo Corporation and Eisai Co. Ltd., plus
a clinical collaboration agreement with Bayer Healthcare
The Licensing Division includes CellMed, in Alzenau, Germany, which is
developing a Drug-Eluting Bead product for the treatment of stroke,
based on proprietary stem cell technology; a GLP-1 analogue for the
treatment of diabetes and obesity partnered with AstraZeneca; and a
cosmetic Dermatology Bead partnered with Merz Pharmaceuticals GmbH.
Biocompatibles also has a PC Licensing agreement with Medtronic Inc. in
the field of Drug-Eluting Stents.
This press release does not constitute an offer of any securities for
sale. This press release contains certain forward-looking statements
within the meaning of applicable Canadian securities legislation.
These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ, including,
without limitation, the company's limited operating history and history
of losses, the inability to successfully obtain further funding, the
inability to raise capital on terms acceptable to the company, the
inability to compete effectively in the marketplace, the inability to
complete the proposed acquisition and such other risks that could cause
the actual results to differ materially from those contained in the
company's projections or forward-looking statements. All
forward-looking statements in this press release are based on
information available to the company as of the date hereof, and the
company undertakes no obligation to update forward-looking statements
to reflect events or circumstances occurring after the date of this
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
SOURCE MedX Health Corp.
For further information:
President and Chief Executive Officer
MedX Health Corp. email@example.com
Phone: (905) 670-4428