Seno Reaches Milestone Licensing Agreement with World Leading High-Frequency Ultrasound Company
SAN ANTONIO, TEXAS – November 20, 2008 – Seno Medical Instruments, Inc., today announced the official signing of a licensing agreement with VisualSonics (www.visualsonics.com), a world-leader in preclinical high-frequency ultrasound, for the exclusive rights to Seno’s Opto-Acoustic small animal imaging (preclinical) technology.
Seno Medical Instruments, a dynamic medical device company located in San Antonio, Texas, received a $2 million investment from the Texas Emerging Technology Fund, and is also supported by investors from the angel and medical communities. “Seno is proud to expand our financial portfolio-base through this licensing agreement,” said Janet Campbell, Seno Medical Instrument’s Chairman and CEO. “This is the first in what we hope will be a series of licensing agreements related to our strong and diverse pipeline of patented cancer diagnostic, treatment and therapeutic monitoring technologies.”
Seno’s small animal (preclinical) opto-acoustic technology is designed to enable researchers to non-invasively detect and monitor biological structures, functions and processes at the cellular and molecular level. It is the first new functional technology developed in 30 years. (Other examples of functional technology are fMRI and PET.) This technology uniquely images angiogenic growth of a tumor and reveals the oxygen saturation within the tumor, thus providing functional information. This technology can also reveal disease progression and inflammation processes that were previously unattainable. As a result of this agreement, VisualSonics will be able to embed Seno’s opto-acoustic technology in their next generation of high-frequency ultrasound platforms and thus extend their molecular imaging capability to the sub cellular level. This combination will drive the new molecular imaging utility for the next generation of small animal (preclinical) imaging with the Vevo® platform.
“The application of opto- acoustic technology to our Vevo preclinical imaging platform is an exciting new area for VisualSonics” stated Tom Little, President and Chief Executive Officer of VisualSonics, “We will be enabling researchers to push the limits of discovery as we develop tools for intracellular and molecular imaging with VisualSonics technology and Seno Medical IP.” VisualSonics Vevo platform is used at some of the worlds most prestigious research institutes at Universities, Government labs and Pharma/Biotech companies including Harvard, Yale, MIT, Stanford, University of Texas Health Science Center San Antonio, Baylor, MD Anderson, NIH and NCI.
“This is an important strategic moment for our company,” said Ms. Campbell. “We look forward to working with a market leader like VisualSonics on this preclinical project and recognize this type of licensing agreement further validates the value of our overall platform technology. There has been and continues to be great interest in this potentially disruptive opto-acoustic technology which offers greater contrast and higher resolution in real-time for its applications in the human, veterinary, academic, drug discovery and research fields.”