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US Navy completes $1M grant to InfraScan

InfraScan to Present at Medtech Insight's ``Investment In Innovation'' Boston Conference

BOSTON--(BUSINESS WIRE)--Oct. 5, 2005--InfraScan Inc., which is developing a rapid, accessible and affordable method to diagnose bleeding in the brain to improve the treatment of head injury, announces today that it is presenting at 10:35 a.m. on October 11 at Medtech Insight's "Investment In Innovation (In3) BOSTON: A Preview of Early-Stage Medical Technology Companies" Conference, taking place October 10-11, 2005 at The Westin Copley Place Hotel in Boston, MA.

From the time a person experiences severe head trauma at the scene of an accident paramedics and physicians have one "golden hour" to define what type of surgical intervention is necessary to save the patient's life. Realizing the importance of finding hematoma as soon as possible, a team of Drexel University biomedical engineers are working with the patented work in near-infrared based brain imaging of pioneer Dr. Britton Chance, Eldridge Reeves Johnson University Professor Emeritus at the Univer sity of Pennsylvania School of Medicine, to develop and market the InfraScanner™, a handheld device that medical professionals can use to detect brain hematoma at the accident scene.

"The InfraScanner™ promises to be a fast, accurate and affordable traumatic brain injury triage solution," said Dr. Banu Onaral, director of Drexel's School of Biomedical Engineering, Science and Health Systems, who is leading the Drexel team. "The user-friendly device maps out the location of the hematoma with graphics onto a PDA screen, and can assist paramedics and emergency room personnel in attending to those injured in traffic and sports accidents, falls and on the battlefield."

The InfraScanner™ started pilot clinical tests in the Neurosurgery department of the Hospital of the University of Pennsylvania and is about to begin multicenter clinical trials. Pending FDA approval, the device will be available in the U.S. as early as 2006.

According to the Center for Disease Control and Prevention, more than two million people in the U.S. suffer from head injury each year and require medical care. About 1,700,000 visit a hospital emergency room and more than 500,000 are diagnosed with Traumatic Brain Injury and hospitalized. About 60,000 die annually as a result of head trauma.

The US Navy recently recognized the unique battlefield value of the InfraScanner™ by completing a $1M investment in the technology. The Office of Naval Research (ONR), represented by CDR Dr. Dylan Schmorrow, continued earlier $100,000 grant with $900,000 contract to complete the development and testing of the technology for battlefield use. InfraScan was also chosen as a recipient of $500,000 Greenhouse funding by BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania.

About InfraScan

InfraScan is developing handheld diagnostic imaging devices including a lead product, the InfraScanner™, which is being developed to rapidly diagnose bleeding in the brain in order to improve treatment of head injury patients. For more information about InfraScan, please contact the CEO, Dr. Baruch Ben Dor 215-387-6784, bbendor@infrascanner.com, or visit www.infrascanner.com.

Medtech Insight, a pision of Windhover Information Inc., is the leading provider of business information and market intelligence for the medical technology marketplace. To register for the "Investment In Innovation Boston" conference or for more information on Medtech Insight, please call Kristy Grimes at 480-985-9512, e-mail kristy@medtechinsight.com, or visit www.medtechinsight.com.