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Perimeter Medical Imaging AI Inc
Symbol PINK
Shares Issued 44,706,084
Close 2021-06-08 C$ 3.25
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Perimeter completes OCT imaging technology transfer

2021-06-08 13:05 ET - News Release

Mr. Jeremy Sobotta reports

PERIMETER MEDICAL IMAGING AI ANNOUNCES IMPORTANT MILESTONE WITH COMMERCIAL-SCALE MANUFACTURING OF PERIMETER S-SERIES OCT NOW UNDERWAY

Perimeter Medical Imaging AI Inc. has successfully completed the technology transfer of its manufacturing process for the production of its optical coherence tomography (OCT) imaging systems with Minnetronix Medical, a leading medical technology and operations partner to global medical device companies.

Jeremy Sobotta, Perimeter's chief executive officer, stated: "The completed technology transfer marks a significant achievement for Perimeter. For the first time, the Perimeter S-Series OCT was manufactured at commercial scale, and we believe this collaboration results in a highly scalable, fast and efficient commercial manufacturing process that enables us to meet our customers' needs in a capital-efficient manner."

Mr. Sobotta continued: "The partnership with Minnetronix Medical provides us access to cutting-edge manufacturing techniques and the scale of a leading medical device manufacturer. This, combined with their expertise and focus on optical systems, makes them an ideal partner as we execute on our commercial plans going forward."

Jeremy Maniak, chief executive officer of Minnetronix, commented: "We are proud of the strong partnership we have formed with Perimeter Medical. We're leveraging our strategic supplier base and state-of-the-art manufacturing capabilities in optics to accelerate their commercialization goals for the groundbreaking Perimeter OCT S-Series technology."

About Perimeter S-Series OCT

Cleared by the U.S. Food and Drug Administration, Perimeter S-Series OCT is a novel medical imaging system that provides clinicians with cross-sectional, real-time margin visualization (one millimetre to two millimetres below the surface) of an excised tissue specimen. Giving physicians the ability to visualize microscopic tissue structures in real time in the operating room has the potential to result in better long-term outcomes for patients and lower costs to the health care system.

About Perimeter B-Series OCT with ImgAssist artificial intelligence

Perimeter is advancing the development of its proprietary, next-generation ImgAssist artificial intelligence technology under its Atlas AI project, which is made possible, in part, by a $7.4-million (U.S.) grant awarded by the Cancer Prevention and Research Institute of Texas (CPRIT). The FDA granted breakthrough device designation for Perimeter B-Series OCT coupled with ImgAssist AI, and Perimeter has plans to initiate a randomized, multisite, pivotal study to evaluate it against the current standard of care and assess the impact on reoperation rates for patients undergoing breast conservation surgery.

About Perimeter Medical Imaging AI Inc.

With headquarters in Toronto, Canada, and Dallas, Tex., Perimeter Medical Imaging AI is a medical technology company that is driven to transform cancer surgery with ultrahigh-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. The company's ticker symbol, PINK, is a reference to the pink ribbons used during Breast Cancer Awareness Month, underscoring the company's dedication to helping surgeons, radiologists and pathologists use Perimeter's imaging technology and AI in the fight against breast cancer, which is estimated to account for 30 per cent of all female cancer diagnoses this year.

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