Jun 19 2006, 4:38 PM EST
News source: Business Wire
Imagin Molecular Corporation (OTCBB:IMGM), a developer of coronary artery disease reversal and prevention centers and hospital joint venture partner, announced today that it has agreed to license rights from Positron to use Cadenza's diagnostic data acquisition software.Cadenza Software was developed by Dr. George Diamond and employs Bayes' theorem to analyze and report results of various clinical descriptors and noninvasive tests relative to the diagnosis of coronary artery disease. The data indicates that Bayes' theorem and Cadenza is an accurate, clinically applicable means for quantifying the prevalence of angiographic coronary artery disease, the risk of multivessel disease, and the incidence of morbid coronary events in the year after testing. Assessing pre-test probability of disease accurately will be an essential tool for diagnostic testing facilities applying for prior-authorization approval from insurance companies.
Joseph Oliverio, Chief Executive Officer of Imagin Molecular Corporation states, "Cadenza software is a very important component to expand the acceptance of cardiac PET as a first line test in the coronary disease diagnostic algorithm similar to that of well established SPECT technology. Our experience has shown that insurance companies prefer patients to have an established pre-test probability of coronary disease prior to obtaining authorization for expensive diagnostic cardiology procedures. Imagin Molecular will demonstrate our complete solution and methodology using Cadenza software to insurance companies and self insured corporations. We will initially focus in the markets where we have current and or pending operations to generate preferred provider networks. Our objective is to generate revenue through providing cost effective alternatives to traditional imaging centers." According to Dr. Diamond, the integration ensures that sophisticated technology for diagnostic data acquisition will be supported by similarly sophisticated technology for clinical interpretation and therapeutic decision-making.
About Imagin Molecular Corporation:
Imagin Molecular Corporation strategy and focus is dedicated to business opportunities in positron emission tomography (PET) manufacturing and the diagnosis of cancer, heart disease and neurological diseases. PET is an advanced medical diagnostic imaging procedure used by physicians in the detection of certain cancers, coronary disease and neurological disorders including Alzheimer's disease. Imagin Molecular Corporation has positioned the Company to be a factor in PET and ancillary molecular imaging businesses. Imagin Nuclear Partners, a wholly owned subsidiary of Imagin Molecular Corporation, is a full-service joint venture molecular imaging partner that will own, operate and administer out-patient medical diagnostic imaging centers that utilizes PET and PET/CT scanning equipment. Imagin Nuclear Partners specializes in using evidence based bioinformatics specifically positioned in the market to provide the maximal cost effective benefit to their joint venture partner and the community. Imagin Molecular Corporation is also the parent of Cipher Multimedia, Inc., a new media marketing and distribution solution company that provides a Distribution Solution for publishers of digital content.
About Positron:
Positron Corporation designs, manufactures, markets and supports advanced medical imaging devices utilizing positron emission tomography (PET) technology under the trade name POSICAM(TM) systems. POSICAM(TM) systems incorporate patented and proprietary software and technology for the diagnosis and treatment of patients in the areas of cardiology, oncology and neurology. Positron Corporation offers unique combination of low cost technology and disease specific software solutions differentiating themselves from all other medical device manufacturers. POSICAM(TM) systems are in use at leading medical f
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