Perimeter Medical Imaging AI Announces First Commercial Installation of Perimeter S-Series OCT in North Texas and Ongoing Market Development Activities Across the U.S.

Rhea-AI Summary

Perimeter Medical Imaging AI, Inc. (OTC:PYNKF) has successfully completed the first commercial installation of its Perimeter S-Series Optical Coherence Tomography (OCT) system in a North Texas hospital. This advanced imaging technology offers high-resolution, real-time imaging of excised tissue, enhancing the surgeon's ability to visualize margins during cancer surgery. CEO Jeremy Sobotta emphasized this milestone as a validation of their market strategy. The S-Series OCT system, cleared by the FDA, could lead to better patient outcomes and reduced healthcare costs.

Positive

• First commercial installation of Perimeter S-Series OCT system marks a significant milestone.
• Advanced imaging technology provides 10x higher resolution than standard imaging methods.
• Potential for improved surgical outcomes and reduced healthcare costs through real-time visualization.

Negative

• None.

TORONTO & DALLAS--(BUSINESS WIRE)-- Perimeter Medical Imaging AI, Inc. (TSX-V:PINK)(OTC:PYNKF) (FSE:4PC) (“Perimeter” or the “Company”), a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address high unmet medical needs, today announced the first commercial installation of its flagship Perimeter S-Series OCT system at a North Texas hospital.

Perimeter S-Series is a novel medical imaging system that uses Optical Coherence Tomography (OCT) to provide clinicians with cross-sectional, real-time margin visualization (1-2 mm below the surface) of an excised tissue specimen across a variety of tissue types.

Jeremy Sobotta, Perimeter’s Chief Executive Officer stated, “We are extremely pleased to announce the first commercial installation of our Perimeter S-Series OCT system. This meaningful validation of our ‘go-to-market’ strategy is an historic event for the Perimeter team, our shareholders, the physicians with whom we collaborate, and the patients in their care. By enhancing a surgeon’s ability to visualize margins and microscopic tissue structures during a procedure, we believe our ground-breaking imaging technology will allow for optimal intraoperative decisions that increase the precision of surgeries.”

Steve Sapot, Perimeter’s Chief Commercial Officer added, “This installation of our Perimeter S-Series OCT device marks an important milestone achieved by our commercial team, who are connecting with innovators in healthcare institutions across the U.S. Our market development activities continue to accelerate and include extensive training and support for physicians. We are confident that this margin visualization technology will give surgeons added clarity to make better informed decisions real-time during a procedure.”

About Perimeter S-Series OCT
Cleared by the FDA with a general tissue indication, Perimeter is bringing its S-Series Optical Coherence Tomography (OCT) system to leading surgeons in hospitals across the U.S., providing cross-sectional images of tissues down to 2mm depth, with 10x higher image resolution than standard x-ray and ultrasound. Perimeter S-Series OCT gives physicians the ability to visualize microscopic tissue structures at the point-of-care – during the primary surgery compared to days later when pathology reports are available – which has the potential to result in better long-term outcomes for patients and lower costs to the healthcare system.

About Perimeter Medical Imaging AI, Inc.
With headquarters in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V:PINK) (OTC:PYNKF) (FSE:4PC) is a medical technology company that is driven to transform cancer surgery with ultra-high-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% of all female cancer diagnoses this year.

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

Forward-Looking Statements
This news release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify 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, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT, Perimeter B-Series OCT, and Perimeter ImgAssist is forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter’s control. Such forward-looking statements reflect Perimeter’s current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties, and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter’s financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter’s Management Discussion and Analysis for the year ended December 31, 2020, which is available on Perimeter’s SEDAR profile at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. In particular, we note the risk that our technology may not achieve the anticipated benefits in terms of surgical outcomes. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005238/en/

Shushu Feng

Perimeter Medical Imaging AI, Inc.

Direct: 647-339-7465 (PINK)

Toll-free: 888-988-7465 (PINK)

investors@perimetermed.com

Source: Perimeter Medical Imaging AI, Inc.

FAQ

What is the significance of the Perimeter S-Series OCT system installation for PYNKF?

The installation represents the first commercial deployment of Perimeter's S-Series OCT system, validating their go-to-market strategy and enhancing surgical capabilities.

How does the Perimeter S-Series OCT system improve cancer surgery?

The system provides real-time margin visualization, allowing surgeons to make better-informed decisions during procedures, potentially leading to improved patient outcomes.

When was the first commercial installation of the PYNKF's OCT system announced?

The announcement was made recently, marking a historic event for the company and its stakeholders.

What are the potential benefits of the Perimeter S-Series OCT technology?

The technology offers high-resolution imaging, which could result in better long-term patient outcomes and lower costs for the healthcare system.

What does the installation of the S-Series OCT system mean for PYNKF's market strategy?

It validates Perimeter's market strategy, indicating successful engagement with healthcare institutions and the potential for broader adoption.