Looks like a bit of typing practice coming up:From this mornings...

Looks like a bit of typing practice coming up:
From this mornings Stockh##d newsletter:

OPTISCAN (OIL)
OIL has developed a miniaturised confocal endomicroscope that can generate microscopic images in real time essentially eliminating the need for physical biopsies.

It's an approach known as optical biopsy, and OIL is a global leader in its development and manufacture
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CEO and managing director Dr Camile Farah, who is himself a pathologist, told Stockh##d OIL is at an inflection point in its evolution as the company shifts from being an original equipment manufacturer to a private label manufacturer, essentially building and releasing products to the market under its own brand name.

"In he past OIL made a system specifically for Pentax used in gastroenterology (GI) and currently we make a system for Carl Zeiss used in brain surgery." he says.

OIL's technology takes a beam of light and focusses it to penetrate living tissue, in turn generating microscopic images, which can be used to diagnose cancer and other diseases on the spot.

"It literally puts the pathologist's microscope in the hands of surgeons and allows them to resect cancers down to the last cell, at the time of surgery, which current operating systems cannot do," Farah says.

OIL is also building a cloud-based telepathology application that will bring surgeons and pathologists closer together to diagnose, treat and monitor patients with cancer, in addition to AI apps that can tell a surgeon if cancer s present while they're operating.

"Our platform is particularly useful for intraoperative pathology during surgery for the diagnosis and resection of malignant tumors". Farah says.
OIL is currently focussed on breast, oral and GI cancers which between them account for 30% of total cancer cases in the US alone, and a US $160 billion US healthcare spend.

The company recently announced it had established an office n the Minnesota BioBusiness Centre and appointed two US-based executives as it looks to grow it operations in the world's largest healthcare market.

"We are super excited about the progress we're making with the development of the pipeline of products". Farah says.

He says OIL is on schedule for the launch of a breast surgical device that will be deployed in further clinical studies, and also the completion of its telepathology application.

"The appointment of the US-based heads of clinical and regulatory affairs demonstrates our commitment to supporting the commercialisation of our devices in the US market through pursuit of FDA clearances for our various devices with breast and oral being our first two clinical applications," he says.
"Since establishing our presence in the US, we have been working on various partnerships and collaborations that we believe will supercharge our path to regulatory success and ultimately bring our cutting-edge technology to more patients suffering unnecessarily due to delays in diagnosis and difficulties with current treatment approaches".

OIL has also kicked off R & D on its second generation flexible endomicoscope for GI which is estimated to cost $9.5 million over the next three years.
Farah says $3 million of that funding will come from the Federal Government as part of its CRCP program to bolster the medtech sector.



Apologies for any typos.
MM