Toronto, Ontario – June 1, 2006 Novadaq® Technologies Inc. (TSX:
NDQ), a developer of medical imaging systems for the operating room,
announced today that its new product, the LUNA™ System, was highlighted
at the annual meeting of the American Urological Association held in
Atlanta, Georgia, May 20-25, 2006.
The LUNA System, being developed to enable surgeons to visualize nerves
and lymph nodes during urological applications, was the subject of non-
clinical abstracts presented by authors from the University of
Rochester. The abstract: Intraoperative Visualization of Cavernous
Nerves Using Near Infrared Fluorescence of Indocyanine Green in the
Rat, presented by Dr. Dragan J. Golijani, studied the use of the LUNA
System on rat models and demonstrated conclusively that LUNA is capable
of identifying the cavernous nerve that is primarily responsible for
the erectile function. LUNA is the first system that has the potential
to visualize the nerve bundle surrounding the human prostate in an
intra-operative procedure. This is particularly useful in radical
prostatectomy, as up to 50% of men undergoing such a procedure become
impotent due to inadvertent damage to the surrounding nerve bundle.
"The LUNA system is an evolution of Novadaq's commercial product, the
SPY System," said Dr. Arun Menawat, CEO and President, Novadaq
Technologies Inc. "LUNA has shown the ability to visualize very small
nerve bundles in rat models, as compared to humans. The visualization
of human nerve bundles is therefore not expected to require significant
modification to the LUNA equipment for open prostatectomy cases."
According the American Cancer Society, approximately 250,000 men are
diagnosed with prostate cancer annually in United States alone. This
number is expected to grow in double digits as the population ages.
Radical prostatectomy is currently the most efficacious procedure, but
impotence remains a significant side effect of surgery. Novadaq's LUNA
system has the potential to reduce these side effects. The study will
now proceed to human clinical trials, which are aimed at identifying
the nerve bundle surrounding the prostate. The trial is expected to
begin in the second half of 2006.
About Novadaq Technologies
Novadaq Technologies Inc. (TSX: NDQ) develops and commercializes
medical devices based on its proprietary imaging platform for the
diagnosis and treatment of human vascular, ophthalmic, and neurologic
diseases and conditions. Novadaq’s SPY® Intra-operative Imaging System,
commercially available worldwide, enables cardiac surgeons to visually
assess coronary vasculature and bypass graft functionality during the
course of open-heart bypass surgery. Novadaq’s ophthalmic product, the
OPTTX® System, is aimed at the diagnosis, evaluation and treatment of
wet Age-related Macular Degeneration (AMD) by using the same core
imaging technology that is used in the SPY System. The OPTTX System is
currently being evaluated in clinical trials. Novadaq’s product for
nerve visualization in prostate surgery, LUNA™ is designed to enable
surgeons to visualize nerve bundles during the course of radical
prostatectomy in order to reduce negative outcomes including impotency.
For more information, please visit the company's website at www.novadaq.com.
Certain matters discussed in this release could constitute
forward-looking statements that are subject to risks and uncertainties
relating to Novadaq's future financial or business performance. Actual
results could differ materially from those anticipated in these
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, research and
development activities, projected costs and capital expenditures,
financial results, research and clinical testing outcomes, taxes and
plans and objectives of or involving Novadaq. Particularly, information
regarding future sales and marketing activities, future revenues and
research and development activities, as well as the Company’s plans for
each of the SPY System, OPTTX System and LUNA System, is
forward-looking information.
Forward-looking information is based on certain factors and assumptions
regarding, among other things, market acceptance and the rate of market
penetration of Novadaq’s SPY System, the clinical results of the use of
the SPY System, the results from clinical tests of the OPTTX System,
and potential opportunities in the AMD treatment market and in image
guided conventional and minimally invasive urological applications
including nerve-sparing radical prostatectomy. While the Company
considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
Forward looking-information is subject to certain factors, including
risks and uncertainties that could cause actual results to differ
materially from what we currently expect. These factors include risks
relating to the transition from research and development activities to
commercial activities, market acceptance and adoption of the SPY
System, dependence on key suppliers for components of the SPY System
and the OPTTX System, regulatory and clinical risks, risks relating to
the protection of intellectual property, risks inherent in the conduct
of research and development activities, including the risk of
unfavorable or inconclusive clinical trial outcomes, potential product
liability, competition and the risks posed by potential technological
advances, and risks relating to fluctuations in the exchange rate
between the US dollar and the Canadian dollar.
You should not place undue importance on forward-looking information
and should not rely upon this information as of any other date. While
Novadaq may elect to, Novadaq is under no obligation and does not
undertake to update this information at any particular time.
For further information visit our website at www.novadaq.com, or contact:
Arun Menawat, PhD, MBA
President & CEO
Novadaq Technologies Inc.
Phone: 905-629-3822 x 202
amenawat@novadaq.com
Investor Relations:
Michael Moore
The Equicom Group
Phone: 416-815-0700 x 241
mmoore@equicomgroup.com
