BTG Announces Cardiology Acquisition from Memorial University Of Newfoundland.Business Editors/Health/Medical Writers BIO 2003 Annual Convention WEST CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--June 30, 2003 Novel Imaging Probe for Atherosclerosis Diagnosis to be Commercialized BTG BTG BIT (Built-In Test) Target Generator BTG Bridging the Gap BTG British Technology Group BtG Betreuungsgesetz (Germany) BTG Biomass Technology Group BV BTG Begbies Traynor Group (LSE LSE - Language Sensitive Editor : BGC BGC General Cable Corporation (stock symbol) BGC Billy Graham Center BGC Baptist General Conference (formerly Swedish Baptist Denomination) BGC Boys & Girls Club BGC Bubblegum Crisis ), the global technology commercialization company, today announced it has acquired an exclusive license to a novel imaging probe designed to identify plaque lesions associated with atherosclerosis. The contract was signed last week at the BIO 2003 Annual Convention in Washington, DC. The probe, created by a team of scientists led by Dr. Hu Liu at the Memorial University of Newfoundland Memorial University of Newfoundland, at St. John's, N.L., Canada; provincially supported; coeducational; founded 1925 as Memorial Univ. College. It achieved university status in 1949. , involves the use of a novel chemical compound encapsulated into an acetylated low-density lipoprotein (LDL LDL - ["LDL: A Logic-Based Data-Language", S. Tsur et al, Proc VLDB 1986, Kyoto Japan, Aug 1986, pp.33-41]. ). Upon injection into the bloodstream, the probe travels to the site of atherosclerotic plaque and provides lesion-specific delivery of the diagnostic agent. The plaque can then be detected by g-scintigraphic imaging (gamma camera) or computed tomography (CT) scanning. This discovery is very promising for diagnosing coronary artery disease coronary artery disease, condition that results when the coronary arteries are narrowed or occluded, most commonly by atherosclerotic deposits of fibrous and fatty tissue. . Current imaging techniques can only identify changes in blood flow, which only gives a partial indication of a patient's status. This new technology has the potential to not only identify the presence of atherosclerotic lesions, but also their location and stage of progression. Such information will be extremely useful in the diagnosis and treatment of patients with this disease. Approximately 15 million people in North America are diagnosed with heart disease every year. The current market for diagnostic imaging agents exceeds over $2 billion annually, with growth through 2008 projected at 8-10%. Cardiac imaging is a growing sector of the diagnostic imaging market, with an increasing focus on less invasive diagnostic procedures. According to Director David King of the Genesis Group, the technology commercialization arm of Memorial University, "BTG is the right partner for us in commercializing this technology. Their long history in medical imaging, combined with their ownership of the core IP in MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. technology, illustrates to us that they are comfortable in this market. We are confident they will bring to the table the right commercial partners and extract maximum value from the atherosclerosis imaging probe technology." BTG plans to commercialize this technology through an out-licensing program and is currently seeking to partner with companies capable of developing and marketing medical imaging agents. About Atherosclerosis Atherosclerosis is the buildup of fat and other deposits in the wall of an artery -- a process often referred to as "hardening of the arteries hardening of the arteries: see arteriosclerosis. ." The lining of the artery becomes rough, and these deposits (known as plaque) cause the artery to narrow. This plaque, or atherosclerosis, develops very slowly over many years and may lead to a total blockage in the artery that occludes, or totally impedes, the flow of blood. Inadequate blood supply to the heart muscle would progress to a myocardial infarction (MI) -- commonly known as a heart attack. About BTG BTG finds, develops and commercializes emerging technologies in the life and physical sciences. These innovations are protected by a strong portfolio of intellectual property that BTG develops and enhances. BTG then captures the value in these technologies through licensing and venturing activities. From the origins of its business in 1949, BTG has commercialized major innovations such as Magnetic Resonance Imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI), recombinant factor IX blood-clotting protein, Campath(R) (alemtuzumab) and Multilevel Cell (MLC (MultiLevel Cell) A flash memory technology that stores more than one bit per cell. Traditional flash memory defines a 0 or 1 bit based on a single voltage threshold. ) memory. BTG is quoted on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the symbol "BGC" and operates from offices in London and Philadelphia, with representation in Tokyo. BTG operates through wholly owned subsidiaries, BTG International Ltd. and BTG International Inc. in the UK and USA, respectively. Further information on BTG can be found at www.btgplc.com. About Genesis Group Inc. Genesis Group is the commercialization arm of Memorial University of Newfoundland. Memorial is Atlantic Canada's largest comprehensive university and one of the region's most important research institutions with approximately 17,000 students, 900 faculty and 1,500 full-time staff. |
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