Paula Fox Melanoma and Cancer Centre – New Project

PaulaFox Melanoma and Cancer Centre – New Project

545 St Kilda Road MelbourneAustralia

Ms Fox and others clearly seewhere the future focus of medicine lies.

The $152 million project is currentlybeing built and scheduled to be completed in early 2024. The project is supported by government, the Fox Family, Minderoo Foundation, and Monash University.

Andrew and Nicola Forrest havegiven about $7.6 billion to their Minderoo foundation. Significantly this foundation has decided to contribute to the new cancer centre.

The 5-storey cancer centre willhave capacity to care for approximately 300 patients a day and will also haveresearch laboratories.

The centre will expand the capacityof existing Clinical Trial activity at Alfred Health and the laboratories will increasecollaboration between research staff and clinicians from The Alfred and MonashUniversity.

The centre’s timing is ideal forthe future take up of Optiscan’s technology. In particular, the ViewnVivo that allows single cell live 3D microscopic imaging for research purposes. Plus, Optiscan’s InVivage that is due to receive its FDA approval this year. After FDA approval in the United States of America (the biggest commercial market for such a device), CE approval in Europe will follow and finally TGA approval in Australia and elsewhere. Notwithstanding the huge Asian market for the technology.

Finally, after 25 years and up toa $1 billion spent on research and development the proper commercialisation of Optiscan’stechnology and medical devices will occur. Digital pathology will become the new gold standard for cancer detection and treatment. Not forgetting that Optiscan’s technology is already being used in neurosurgery by Carl Zeiss CONVIVO in vivo pathology suite. And the development of AI to complement InVivage. And the many peer review articles in the medical journals that confirms the veracity of the technology.

From Friday 7 July 2023 Optiscanwill receive a cash injection of approximately $16.7 million to bolster its existingcash reserves. Right holders have until Thursday this week to participate in the acquisition of shares otherwise Peters Investments and Orchid Capital will snap them up. Importantly, right holders are permitted to by an additional payment apply for additional shares beyond what they are entitled to.

In sum

Optiscanwill have no more financial impediments

Incomewill continue to increase

FDAapproval will occur

Significantincome will be realised from the sale of InVivage devices from 2024

AI enhancesthe technology

The technologyapplies to all cancers