New Precision Surgical Interventions (PSI)
Program Aims to Fund the Development of Groundbreaking New Tools
for Cancer Surgeons
DALLAS and TORONTO, Oct. 5, 2023
/CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK)
(OTC: PYNKF) (FSE: 4PC) ("Perimeter" or the "Company") –
a commercial-stage medical technology company – announced that it
has been shortlisted in a grant funding process sponsored by the
Advanced Research Projects Agency for Health (ARPA-H) under its
Precision Surgical Interventions (PSI) Program. Perimeter attended
the ARPA-H Proposer's Day on September 7,
2023 and subsequently submitted an abstract, which has been
selected to advance to the next stage of the grant funding process
with an invitation to submit a full proposal by November 16, 2023.
Adrian Mendes, Perimeter's Chief
Executive Officer stated, "We are excited to participate in this
important Biden Cancer Moonshot initiative and thrilled that the
federal Advanced Research Projects Agency for Health has selected
Dallas as one of three regional
hubs in its $2.5 billion health
innovation network. We look forward to submitting a full proposal
to the ARPA-H PSI grant funding program, as its goals align
precisely with the mission of Perimeter and further validate the
significant healthcare problem that our team is committed to
solving: ensuring that no patient needs to return for a repeat
surgery due to cancer left behind. I believe Perimeter is a true
pioneer in this space, with our advanced imaging technology
delivering the clearest 2mm subsurface imagery currently available
to surgeons in the OR, with 10x the image resolution of standard
X-ray and ultrasound and 100x greater than MRI."
ARPA-H's new PSI program aims to deliver groundbreaking new
tools to enable surgeons to successfully remove cancer for patients
through a single operation by better identifying and
differentiating between healthy and cancer tissue. Technologies
developed through this program will also help surgeons spot and
avoid important structures such as nerves, blood vessels, and lymph
nodes, which can be mistakenly damaged during invasive surgical
procedures. In alignment with the Biden Cancer Moonshot and to
advance equity, the PSI program is designed to ensure emerging
technologies that are accessible in rural and urban areas,
improving health outcomes for all Americans facing cancer. ARPA-H
anticipates multiple awards and award types will result from
program. More information about ARPA-H can be found at:
https://arpa-h.gov
About Perimeter Medical Imaging AI, Inc.
Based in
Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI
(TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical
technology company driven to transform cancer surgery with
ultra-high-resolution, real-time, advanced imaging tools to address
areas of high unmet medical need. Available across the U.S., our
FDA-cleared Perimeter S-Series OCT system provides real-time,
cross-sectional visualization of excised tissues at the cellular
level. The breakthrough-device-designated investigational Perimeter
B-Series OCT with ImgAssist AI represents our next-generation
artificial intelligence technology that is currently being
evaluated in a pivotal clinical trial, with support from a grant of
up to US$7.4 million awarded by the
Cancer Prevention and Research Institute of Texas. The company's ticker symbol "PINK" is a
reference to the pink ribbons used during Breast Cancer Awareness
Month.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statements
This news release contains
statements that constitute "forward-looking information" within the
meaning of applicable Canadian securities legislation. In this news
release, words such as "may," "would," "could," "will," "likely,"
"believe," "expect," "anticipate," "intend," "plan," "estimate,"
and similar words and the negative form thereof are used to
identify forward-looking statements. Forward-looking information
may relate to management's future outlook and anticipated events or
results and may include statements or information regarding the
future financial position, business strategy and strategic goals,
competitive conditions, research and development activities,
projected costs and capital expenditures, research and clinical
testing outcomes, taxes and plans and objectives of, or involving,
Perimeter. Without limitation, information regarding the potential
benefits of Perimeter S-Series OCT and Perimeter B-Series OCT and
the Company's intention to submit a proposal to the ARPA-H PSI
program are forward-looking information. Forward-looking statements
should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether, or the
times at or by which, any particular result will be achieved. No
assurance can be given that any events anticipated by the
forward-looking information will transpire or occur.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions, and other unpredictable factors, many
of which are beyond Perimeter's control. Such forward-looking
statements reflect Perimeter's current view with respect to future
events, but are inherently subject to significant medical,
scientific, business, economic, competitive, political, and social
uncertainties and contingencies. In making forward-looking
statements, Perimeter may make various material assumptions,
including but not limited to (i) the accuracy of Perimeter's
financial projections; (ii) obtaining positive results from trials;
(iii) obtaining necessary regulatory approvals; and (iv) general
business, market, and economic conditions. Further risks,
uncertainties and assumptions include, but are not limited to,
those applicable to Perimeter and described in Perimeter's
Management Discussion and Analysis for the year ended December 31, 2022, which is available on
Perimeter's SEDAR+ profile at https://www.sedarplus.ca, and could
cause actual events or results to differ materially from those
projected in any forward-looking statements. Perimeter does not
intend, nor does Perimeter undertake any obligation, to update or
revise any forward-looking information contained in this news
release to reflect subsequent information, events, or circumstances
or otherwise, except if required by applicable laws.
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content:https://www.prnewswire.com/news-releases/perimeter-medical-imaging-ai-shortlisted-to-advance-to-next-stage-of-grant-funding-program-sponsored-by-the-advanced-research-projects-agency-for-health-arpa-h-under-biden-cancer-moonshot-initiative-301947884.html
SOURCE Perimeter Medical Imaging, Inc.