Leading Cancer Research Institute Reports Results of Cancer Imaging Study Using OmniCorder's BioScanIR System.

Business Editors/Health/Medical Writers

EAST SETAUKET, N.Y.--(BUSINESS WIRE)--Dec. 5, 2003

Dana-Farber Cancer Institute Research Team Compares BioScanIR(R)

System Favorably With Positron Emission Tomography (PET)

OmniCorder Technologies, Inc. announced the publication of a study favorably comparing the performance of the company's BioScanIR(R) System with Positron Emission Tomography (PET), and other imaging modalities, in a cancer treatment application.

The study, published in the December 2003 issue of the journal Technology in Cancer Research and Treatment (TCRT), is entitled, "DYNAMIC INFRARED IMAGE OF NEWLY DIAGNOSED MALIGNANT LYMPHOMA COMPARED WITH GALLIUM-67 AND FLUORINE-18 FLUORODEOXYGLUCOSE (FDG) POSITRON EMISSION TOMOGRAPHY (PET)." The study was conducted by a team of radiologists and oncologists at Dana-Farber Cancer Institute in Boston, MA. It compared the ability of OmniCorder's BioScanIR(R) System, using its proprietary Dynamic Infrared Imaging (DIRI(TM)) technology, to depict tumor masses in lymphoma patients for staging and therapy monitoring against CT, Ga-67 and FDG-PET imaging. The researchers concluded that the BioScanIR(R) System can distinguish and localize lymphoma from adjacent healthy tissues, and identify some characteristic patterns that may allow the monitoring of patients with lymphoma undergoing therapy. The patients in this study were assessed before their treatment with some of the most advanced new drugs.

Principal investigator, Milos J. Janicek, MD, Ph.D. explained that, "Treatment decisions may be based on the early assessment of the response to therapy and the residual volume of the disease. Building our experience with this noninvasive, inexpensive, and reproducible imaging modality, shows its potential utility as a powerful functional imaging technique to stage and monitor patients with lymphoma during therapy where time assessment of response to therapy is critical to successful treatment."

High success rates in the treatment of cancer, and the availability of new alternative treatments, increase the demand for accurate staging and early monitoring of therapy response, thus, imaging plays an increasingly important role in cancer treatment. Conventional techniques, such as CAT and X-ray, cannot differentiate residual soft tissue masses from persisting disease. Functional imaging techniques such as FDG-PET, on the other hand, can and are becoming increasingly important in cancer treatment for this reason. However, the very high cost and limited availability--as well as the absorbed radiation dose using FDG-PET--represent significant limitations to repeated use of this method at multiple time points during treatment. In addition, not all the tumors show sufficient FDG uptake. The purpose of this study was to determine if the BioScanIR(R) DIRI(TM) technology, an alternative functional imaging modality that does not use radiation or contrast agent, could augment or be substituted as a functional imaging modality during cancer treatment. In addition to being completely non-invasive, the cost of using the BioScanIR(R) System is approximately one tenth the cost of PET imaging.

Commenting on these published results, Mark A. Fauci, OmniCorder's Founder, President and CEO, said, "It is very gratifying to see these results published in TCRT and reviewed by leading oncologists, radiologists, and cancer researchers. We believe our proprietary BioScanIR(R) technology represents a very important innovation in functional imaging for a variety of cancer applications including screening, diagnosis and therapy monitoring. The BioScanIR(R) System promises to provide researchers and clinicians with the ability to monitor the subtle changes in cancerous lesions during treatment using the new targeted treatment methods, such as Gleevec(R), and ultimately provide clinicians with a cost effective means to monitor their patients' health over the ensuing years following their successful treatment. This report represents another important scientific milestone for our company and will further advance the commercialization of our BioScanIR(R) System worldwide."

About The BioScanIR(R) System

The Company's BioScanIR(R) System, which is available commercially in the U.S. and Europe, detects diseases that affect changes in blood perfusion by detecting minute changes in the pattern of infrared flux. The detector technology used in the system, known as a Quantum Well Infrared Photodetector (QWIP), was originally developed for the Department of Defense's Ballistic Missile Defense Initiative. The Company owns an exclusive, worldwide license to use the technology for biomedical applications. OmniCorder believes that the BioScanIR(R) System will improve disease detection and disease management capabilities in many vascular and cancer medical applications. Both cancer and vascular disease are associated with abnormal blood flow in tissues and organs.

About OmniCorder Technologies, Inc.,

OmniCorder Technologies is headquartered in East Setauket, NY. It is the leading developer of medical imaging applications using advanced infrared focal plane arrays. OmniCorder provides imaging technology for clinicians and researchers for drug discovery, disease detection and disease management applications. OmniCorder's mission is to improve the quality and cost-effectiveness of healthcare services and research through identifying, acquiring and adapting military and aerospace technology for biomedical applications.

About Technology in Cancer Research and Treatment Journal

Technology in Cancer Research and Treatment Journal is a bi-monthly, peer-reviewed publication devoted to early diagnosis, treatment, and palliation of cancer. The Journal includes both experimental and theoretical investigations. Among the topics covered are MRI, including functional MRI, spiral CT, PET, optical spectroscopy, computer-aided reconstruction of tumors, computer-aided drug design, stereotactic radiosurgery, cryosurgery, brachytherapy, electroporation, photodynamic therapy, gene therapy, cancer vaccine, proteomics, and genomics, as they impact cancer research and treatment. Special emphasis is given to non-invasive techniques. The Journal publishes original articles, express communications, opinion pieces, and timely reviews.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.