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Special Report: Optiscan has signed a Memorandum of Understanding (MOU) with University of Minnesota College of Veterinary Medicine to trial clinical applications and develop clinical data around using the company’s digital confocal laser endomicroscopic imaging system in animal care.
Optiscan (ASX:OIL) says the MOU will combine its innovative technology and real-time in vivo imaging capabilities with the extensive research capabilities, veterinary facilities, and expertise of the University of Minnesota College of Veterinary Medicine and its faculty.
OIL says the MOU will bring together experts from both organisations to develop veterinary-specific clinical applications and use cases for its digital confocal laser endomicroscopic imaging system, with an initial focus on cancer research in companion animals (dogs and cats).
The planned research and testing will provide data from clinical studies required for US Food and Drug Administration clearance of OIL’s imaging platform for use in veterinary medicine.
OIL says the MOU aligns with its stated strategy of expanding the addressable markets for its unique medical imaging platform, both across various fields of medicine and in an increased number of jurisdictions.
The company says veterinary medicine represents one such addressable market, with more than 70 million domesticated dogs and 80 million cats in the US alone experiencing health concerns.
Furthermore, more than 12 million companion animals are diagnosed with cancer each year, representing significant, ongoing demand for veterinary services.
Breast and oral cancers are two of the most common cancer types in both cats and dogs, accounting for between 27-53% of cancers.
OIL says these cancer types demonstrate strategic alignment with the medical conditions the company is tackling in human health, specifically in oncology.
2024 has been a strong year for OIL with its share price up almost 130% YTD. In May, OIL announced it had entered a know-how agreement with world-renowned Mayo Clinic, also in the US, to develop a digital confocal laser endomicroscopic imaging system for robotic surgery.
In June the company unveiled its ground-breaking new microscopic medical imaging device InVue, which is designed to enable precision surgery by putting real-time digital pathology access directly into the hands of surgeons.
In July the company announced in partnership with Prolucid Technologies that it had successfully completed the beta testing phase for its innovative cloud-based telepathology platform.
This new system marks a significant advancement in the field of digital pathology by enabling real-time remote collaboration on patient imaging.
CEO and managing director Dr Camile Farah says the highly renowned medical facility is the sole veterinary college in the US state of Minnesota and is dedicated to improving the health of animals, people, and the environment through innovative veterinary services.
“The signing of this MOU with the prestigious University of Minnesota College of Veterinary Medicine is a fantastic result on multiple fronts,” he said.
“I am truly excited by the potential outcomes flowing from this agreement.
“Combining the respective strengths of Optiscan and the University of Minnesota College of Veterinary Medicine opens the way for unlocking new possibilities in the diagnosis and treatment of critical conditions in veterinary medicine.
“Success here could see the creation of new standards in animal care that would replace traditional pathology methods for the diagnosis and treatment of various conditions with new technologies such as ours at Optiscan, underpinned by high-definition in vivo imaging in real-time that can provide veterinarians with previously unavailable insights.”
This article was developed in collaboration with Optiscan, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.