Optiscan (OIL) executed agreements with Carl Zeiss around the expansion and intensification of the collaboration between the two companies. These expanded arrangements will build on the successful neurosurgery trials at The Barrow Neurological Institute in Phoenix, USA paving the way to commercialisation of Optiscan product in neurosurgery.
The exact terms of our agreements with Zeiss are commercial in confidence, restricting the detail we may disclose, suffice to say that Optiscan will receive significant immediate and near term (2011FY) cash payments flowing from these new arrangements boosting cash reserves beyond $2 million by 31 December 2010.This expansion of our activities with Zeiss, a world leader in their field, provides validation of our technology and our ability to take that technology to product.
In addition to entering further fields of medical application with Zeiss in the near term, the progression of our developments with Zeiss complements the development of our second generation platform technology for use in other established applications such as gastroenterology within field of flexible endoscopy.
Optiscan is a global leader in microscopic imaging technologies for medical markets. Optiscan’s unique and patented technologies enable high-powered microscopes to be miniaturised and used inside the body. The technology enables microscopic imaging of up to 1000 times magnification to be achieved. Doctors can use the technology to instantly see cellular level details of tissue without the requirement to surgically remove tissue (biopsy).
Optiscan’s patented miniaturised microscope technology is being used in the field of flexible endo-microscopes. Optiscan has also entered into a collaboration with the Carl Zeiss Group in Germany for the use of its patented miniaturised microscope technology in rigid endoscopes in key Zeiss markets.