12-19-17 8:12 AM EST | Email Article


Toronto, Ontario / TheNewswire / December 19, 2017 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT) is pleased to announce that it has hired a Manager of Regulatory Affairs and Quality Assurance , promoted to President the VP, Development and Operations, completed the ISO60601 safety testing for the VMS+ device and moved its Development and Manufacturing Centre, as well as its Corporate Offices.

Dr. Alvira Macanovic has been appointed Manager of Regulatory Affairs and Quality Assurance.  She has over 10 years of experience in pharmaceutical and medical device related industries where she has worked with researchers, start-ups, SMEs, and multi-national companies to commercialize technologies in multiple therapeutic areas.  She has developed regulatory and quality strategies and plans to deliver high quality, safe, and reliable medical device products to market efficiently and cost-effectively.  Most recently as Director of Regulatory Affairs and Quality Assurance at a medical imaging company, she oversaw all aspects of the regulatory affairs/quality operations and activities for the successful launch of their products in Canada, the United States, and China.  Previously, Dr. Macanovic worked for a non-profit organization supported through the Centres of Excellence for Commercialization and Research to commercialize medical imaging and digital pathology technologies. She obtained a Bachelor of Science in Biochemistry from McGill University and a PhD in Chemistry from Concordia University.  

The Board of Directors is pleased to announce that Mr. Desmond Hirson has been promoted to President of the Company. Mr. Hirson was hired in August as Vice-President, Development and Operations, and has done an outstanding job of re-building the Company’s operations team.  Dr. George Adams will remain as CEO.

In 2017, the Company reconfigured its VMS machine to accommodate newer ultrasound devices and provide a better form for clinical use.  The VMS+ machine was required to be re-certified under ISO60601 specifications for safe medical devices.  The Company is pleased to report that the testing program is now complete, and the Company is awaiting the issuance of the certificate. Dr. George Adams, CEO of Ventripoint, stated "With the ISO60601 certification, we can provide VMS+ machines in Canada and apply for regulatory approvals elsewhere”.

The Company has moved its Development and Manufacturing Centre, as well as its Corporate Offices to 2 Sheppard Avenue East, Suite 605, Toronto Ontario, M2N 5Y7.  The telephone and fax numbers remain the same.

Ventripoint announces that it has entered into an agreement with a consultant to provide sales and marketing services in the Middle East.  As compensation for these services, after three months, the consultant will receive Ventripoint common shares worth $30,000 , with the number of shares determined with reference to the market price at the time of issuance , and subject to the approval of the TSX Venture Exchange.

About Ventripoint Diagnostics Ltd.

Ventripoint has created tools to monitor patients with heart disease, a leading cause of death in developed countries. VMS TM is the first cost-effective and accurate tool for measuring heart function. The Corporation has developed a suite of applications for all major heart diseases and imaging modalities including congenital heart disease, left or right heart failure and normal hearts.

For further information please contact:

Dr. George Adams, President & CEO

Telephone: (519) 803-6937

email: gadams@ventripoint.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address Ventripoint’s expectations, should be considered forward-looking statements. Such statements are based on management’s exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. The Corporation undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

Copyright (c) 2017 TheNewswire - All rights reserved.

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