Mr. Hugh MacNaught reports

VENTRIPOINT'S NEXT GENERATION, AI-POWERED HEART-SCANNING TECHNOLOGY SUBMITTED TO HEALTH CANADA FOR MEDICAL DEVICE LICENSE

Ventripoint Diagnostics Ltd. has reached another development milestone by submitting its next generation of software, VMS+4.0, to Health Canada for a medical device licence to market the upgraded product in Canada.

This latest advance of Ventripoint's AI-powered (artificial intelligence) technology, which rapidly processes ultrasound images of the heart to generate MRI-quality (magnetic resonance imaging) measurements of all four cardiac chambers, is designed to integrate into the workflow of hospitals, clinics and caregivers.

Upon issuance of the medical device licence, Ventripoint will market the new version of VMS+ to Canadian customers. "It has taken our team two years of research and development to reach this major milestone," said Ventripoint president and chief executive officer, Hugh MacNaught. "VMS+4.0 promises to become one of the simplest, cost-effective and non-invasive heart imaging tools in the market."

Ventripoint submitted VMS+4.0 for licensing to Health Canada on July 25 as a new Class II medical device application with software and hardware updates and featuring diagnostic advances. VMS+3.0 has already received regulatory clearances from the U.S. Food and Drug Administration (FDA), Health Canada, the United Kingdom and the European Union, and is being used by leading hospitals in the U.S., the EU, the U.K. and Canada. The company is also pursuing regulatory clearance in other key markets, such as the EU, the U.K. and the U.S., to make this newest version of VMS+ available to the global community.

About Ventripoint Diagnostics Ltd.

Ventripoint is an industry leader in the application of AI to echocardiography. Ventripoint's VMS products are powered by its proprietary knowledge-based reconstruction technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements equivalent to MRI. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. Providing better care to patients serves as a springboard and basic standard for all of Ventripoint's products that guide the company's future developments. In addition, VMS+ is versatile and can be used with all ultrasound systems from any vendor supported by regulatory market approvals in the U.S., Europe and Canada.

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