Let's try this!Dear Shareholder,
Following a transformative year in 2022, I am pleased to provide some importantupdates as we accelerate momentum in 2023.
December 2022 Quarterly Update
Our latest report encompasses several highlights:
- FDA review of the 510(k) submission for InVivage® ongoing.
- Breast cancer imaging study progressing well with encouraging findings.
- Data analysis of acquired oral cancer imaging datasets ongoing with positive results.
- $525k of orders shipped to Zeiss, with $289k cash received from customers.
- USD$245.5k ViewnVivo® order from an undisclosable American pharmaceutical company.
- $1m grant income, +$100k vs. last year.
- Net cash outflows ($0.3m), less than prior quarter ($1.1m).
- Cash outflows from Operating Activities of ($0.2m) for the Quarter.
Prolucid AI Announcement
On 1st February, we announced an exclusive collaboration with Canadian based ProlucidTechnologies to develop Artificial Intelligence (AI) algorithms and telepathology workflows using our confocal laser endomicroscopy (CLE) technology.
Over the next 18-24 months, Prolucid will develop a software as a medical device (SaMD) using our unique platform technology that supports image collection, processing, and tissue analytics to detect the presence of pre-cancerous and cancerous cells, enabling immediate clinical decision-making.
Receiving coverage in the Market Herald, Boardroom Herald, 2GB Sydney, 6PR Perth, and 3AW Melbourne, this exciting partnership puts Optiscan at the forefront of AI innovation, and forms part of our broader strategy for 2023
- Entry into the Clinical Market
Building clinical evidence for application of our technology in large addressable markets, notably breast cancerAccelerating Innovation
- Launching InVivage® into the US oral cancer market in 2023.
Growth of existing business
- AI algorithms and clinical workflow development with Prolucid.
- Next generation hardware upgrades and optical innovations.
- Growing our ViewnVivo® research device across APAC.
- Supply of key componentry to Carl Zeiss Meditech for Convivo™.
Thank youfor your continued support as we accelerate in bringing our slide-free,biopsy-free optical technology to the world. I look forward to keeping youupdated with further news throughout the year.
Dr Camile Farah
Regards,
Chief Executive & Managing Director
Regards.........................
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