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Imagin Medical talks impact of COVID-19

2020-05-14 12:06 ET - News Release

Mr. Jim Hutchens reports

IMAGIN MEDICAL REPORTS RESPONSE TO COVID-19 IMPACT

Imagin Medical Inc. has provided an update on the actions the company has taken in response to the global COVID-19 pandemic.

"The sudden impact of the pandemic on the global economy has made it imperative for us to be flexible and quickly adapt our business to current conditions," said Jim Hutchens, president and chief executive officer of Imagin Medical. "We have implemented emergency measures to decrease non-essential expenses in all areas of our business in order to extend Imagin's cash runway. We have reduced salaries company-wide, put a freeze on employee travel, and switched to virtual development and operational meetings."

"At the same time, we remain deeply committed to advancing the i/Blue imaging system toward commercialization," Mr. Hutchens added.

Imagin continues to monitor and implement recommendations from local and national health organizations. The company's top priorities are the health and safety of its team members and the communities in which they live and work.

"Imagin has acted decisively to lower expenses and improve overall cost structure. We will continue to adjust our operations to the evolving situation to ensure the company emerges from the pandemic in a healthy position to move forward," said Mr. Hutchens.

About Imagin Medical Inc.

Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The company believes its first product, the i/Blue imaging system, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates. The company's initial focus is bladder cancer.

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