QuikFlo Acquires Key IP License
CALGARY, ALBERTA--(Marketwired - Feb 12, 2016) - QuikFlo Health Inc. ("QuikFlo" or the "Company") (TSX VENTURE:QF)(1QF.F) is pleased to announce that it has reached agreement to enter into a worldwide non-exclusive license agreement with the University of Western Ontario ("Western") to use certain CT perfusion intellectual property that has been developed by Dr. Ting Lee, the Company's Chief Technology Officer. This technology was assigned to Western by Dr. Lee, who is a professor at Western, in accordance with that university's policies. This same technology has been an integral part of General Electric's CT scanner programs for several years.
The Company will issue to Western 100,000 common shares, subject to regulatory approval.
Vinny Jindal, the Company's President and CEO stated: "Dr. Lee is one of the pioneers of CT Perfusion analysis, and our ability to use his algorithms in the development of our stroke diagnostic and triage tool will advance our time table significantly. Combined with proprietary work being done at QuikFlo, these algorithms position QuikFlo to deliver the world's most advanced software for the analysis and triage of ischemic stroke."
QuikFlo Health is a medical software company developing innovative solutions for the analysis of medical images. Our primary focus is on improving outcomes for stroke patients, where existing time delays are solvable through more efficient triage based on rapid, accurate analysis of medical images. Stroke, the third leading cause of death worldwide, represents a significant unmet medical need. QuikFlo's products will serve the more than 40,000 medical institutions that offer CT imaging worldwide.
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 release.
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although management of the Company believes that the expectations and assumptions on which such forward looking statements and information are based are currently reasonable, actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to identify and complete suitable acquisitions to further the Company's growth, the suitability of the key members of ongoing management and the board of directors, the biomedical and technology sectors in general such as operational risks in development, research and regulatory delays or changes in plans with respect to research projects or capital expenditures; the uncertainty of the market; the uncertainty of estimates and projections relating to costs and expenses; health, safety and environmental risks; marketing and commercialization; loss of markets; competition; ability to access sufficient capital; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws, and government regulations, and other risks identified in the recent information circular available on www.sedar.com. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive and additional risks and uncertainties are set forth in the circular.
No undertaking is given 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. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
QuikFlo Health Inc.
President and CEO
QuikFlo Health Inc.