ART And GE Medical Systems Announce Sale of Optical Molecular Imaging System to Novartis.Business Editors MONTREAL and WAUKESHA, Wis.--(BUSINESS WIRE)--Oct. 21, 2003 ART Advanced Research Technologies Inc. (ART) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ARA Ara or Arrah (both: ŭ`rə), city (1991 pop. 157,082), Bihar state, NE India, on the Son Canal. A major road and rail junction, it is the administrative center for a district that produces grain, sugarcane, and oilseed. ) and GE Medical Systems, a unit of General Electric Company (NYSE NYSE See: New York Stock Exchange :GE), announced the sale of the pre-clinical optical molecular imager, SAMI Sami: see Lapland. Sami or Lapp Any of the descendants of ancient nomadic peoples who inhabited northern Scandinavia. They may be Paleo-Siberian or alpine peoples from central Europe. (TM), to Novartis Pharma AG. SAMI(TM) is exclusively distributed worldwide by GE Medical Systems. "ART is very pleased to announce the sale of a SAMI(TM) device to Novartis," said Micheline Bouchard, President and Chief Executive Officer of ART. "Novartis is a world leader in the research and development of products to protect and improve health and well-being and we are proud that they have chosen to work with SAMI(TM)." "After having tested ART's SAMI(TM) device thoroughly in Montreal, we are absolutely convinced that this optical system will fulfill all our needs and wishes," said Dr. Bobby Gremlich, Optical Spectroscopy and Imaging Unit at Novartis Pharma AG. "Therefore, Novartis is not only looking forward to having this unique device in our laboratories soon, but we are also proud of being the first industrial lab using the SAMI(TM) device." ART's system, called the Small Animal Molecular Imager (SAMI(TM)), is an optical fluorescence molecular imaging device developed to help pharmaceutical companies and research laboratories to better understand disease and reduce the development cycle for new drugs. "Whether our customers are evaluating new drugs, investigating biological processes, or understanding disease progression, they recognize the value of SAMI(TM)'s unique position to accurately quantify fluorophore concentration to advance their research," said Eric Stahre, General Manager of Genomics and Molecular Imaging at GE Medical Systems. The technology is based on ART's proprietary time domain optical imaging technology. With the use of specialized laser sources and sensitive detectors, it non-invasively images tissue in-vivo and reveals the biological distribution and concentration of fluorescent-labeled markers, which are introduced into tissue as part of the testing process for new therapeutic and diagnostic drugs. In turn, the small animal molecular imager can help researchers and pharmaceutical companies quickly demonstrate the effectiveness of a potential drug or observe its side effects Side effects Effects of a proposed project on other parts of the firm. on organs not targeted by the drug. About GE Medical Systems GE Medical Systems is a $9 billion global leader in medical imaging, interventional procedures, healthcare services, and information technology. Its offerings include networking and productivity tools, clinical information systems, patient monitoring systems, surgery and vascular imaging, conventional and digital X-ray, computed tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. , electron beam tomography Electron beam tomography is a specific form of computed axial tomography (CAT or CT) in which the X-Ray tube is not mechanically spun in order to rotate the source of X-Ray photons. , magnetic resonance magnetic resonance, in physics and chemistry, phenomenon produced by simultaneously applying a steady magnetic field and electromagnetic radiation (usually radio waves) to a sample of atoms and then adjusting the frequency of the radiation and the strength of the , ultrasound and bone mineral densitometry densitometry /den·si·tom·e·try/ (den?si-tom´i-tre) determination of variations in density by comparison with that of another material or with a certain standard. , positron emission tomography positron emission tomography: see PET scan. positron emission tomography (PET) Imaging technique used in diagnosis and biomedical research. , nuclear medicine, and a comprehensive portfolio of clinical and business services. For more than 100 years, health care providers worldwide have relied on GE Medical Systems for high quality medical technology and productivity solutions. For more information about GE Medical Systems, visit the web site at www.gemedical.com. About ART ART Advanced Research Technologies Inc., is a leader in optical molecular imaging and is dedicated to the development of state-of-the-art technological applications for the life sciences sector. ART has developed two devices based on this innovative technology. The first is SAMI(TM)(Small Animal Molecular Imager), a molecular imaging device designed for monitoring physiological changes in living systems at the pre-clinical study phases of new drugs. SAMI is distributed worldwide by GE Medical Systems. The second is SoftScan(R), a medical imaging device that detects, diagnoses and characterizes breast cancer lesions, and will be used for the analysis of breast cancer lesions and the monitoring of treatments. ART's shares are listed on the TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension under the ticker symbol ARA. For more information about ART, visit the web site at www.art.ca. This press release may contain forward-looking statements subject to risks and uncertainties that would cause actual events to differ materially from expectations. These risks and uncertainties are described in ART Advanced Research Technologies Inc.'s regulatory filings with Canadian Securities Commissions. |
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