Ventripoint Reports Second Quarter 2021 Financial Statements and MD&A
Toronto, Ontario – TheNewswire – September 03, 2021 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT); (OTC:VPTDF) is pleased to announce that it has filed its interim unaudited Financial Statements and Management Discussion and Analysis (MD&A) for the second quarter, ending June 30, 2021. These filings can be viewed on the Company’s profile at www.SEDAR.com
Highlights for the quarter were:
- Signing a collaboration agreement with General Electric Healthcare Corporation (GEHC) to add Ventripoint as an innovator under GE Healthcare’s Edison Developer Program, which allows healthcare providers gain access to market-ready applications. As an innovator under this program, our installed base will be enhanced and will drive Ventripoint’s commercial growth worldwide by accessing GE Healthcare’s global sales channel.
- Filing of a foundational U.S. provisional patent on heart motion tracking technology, which provides cardiologists with additional and more precise dynamic information about the function of the heart. This invention is as an extension of the Company’s existing artificial intelligence (AI) platform, which provides accurate and reliable volumetric measurements for all four chambers of the heart.
- Receipt of advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to further enhance cardiac measurement capabilities of the VMS+. The primary objective of this new proposed product is to provide a complete echo cardiac analysis package with conventional 2D measurements as well as the 3D measurements currently uniquely provided by the VMS+ using 2D ultrasound.
- Cash received from exercise of warrants was $3,936,116 and from the exercise of options $300,626 for the 6 months ending June 30, 2021.
- Cash at the end of the period was $3,459,673, which is enough to allow the Company to continue operations for 2 years at the current level of activity.
About Ventripoint Diagnostics Ltd.
Ventripoint has become an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint's VMS products are powered by its proprietary KBR 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 our 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.
For further information, please contact:
Dr. George Adams
Neither the 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 news release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends'' and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.