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Biotech / Medical : ACMI - Accumed Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Dana Winrow who wrote (1018)	1/13/1998 1:06:00 PM
From: Frank Buck	Respond to of 1894

Dana, FYI: January 12 News Release QLT PHOTOTHERAPEUTICS INC. FDA Clears Cancer Drug For Treatment of Lungs QLT Phototherapeutics Inc. said the U.S. Food and Drug Administration approved its light-activated cancer drug, Photofrin, for treating early stage lung cancer. The Vancouver, British Columbia, biotechnology concern said the decision. which follows an FDA review panel's recommendation late last year, marks the first time the agency has approved so called photodynamic therapy as a potentially curative cancer treatment. QLT's therapy, which previously only had U.S. approval as a palliative treatment for advanced throat cancer, uses a laser beam to activate a tissue-destroying drug at the tumor site. WSJ END Going back to a May 22, '96 PR Newswire release AccuMed International And Xillix Form Strategic Alliance Regarding Xillix' Oncometrics Imaging Subsidiary CHICAGO -- AccuMed International, Inc. (Nasdaq: ACMI) today reported the signing of a letter of intent with Xillix Technologies Corp. (Toronto Stock Exchange: XLX) to finalize a strategic alliance and partnership in the further technology development of Xillix' Oncometrics Imaging Corp. subsidiary, according to Peter Gombrich, Chief Executive Officer of AccuMed. Under terms of the agreement, AccuMed would acquire a one-third equity interest in Oncometrics for an undisclosed cash amount, as well as the option to acquire an amount up to a total of two-thirds of Oncometrics. Oncometrics also will enter into a consulting relationship with AccuMed on its AcCell(TM) system, including the AccuMap 2000, 3000 and 4000 systems. Oncometrics was incorporated to complete the development of the image cytometry technology to complement Xillix' unique Light Imaging Florescence Endoscopy (LIFE) system used for the early detection of lung cancer. Preliminary studies indicate that the LIFE system may have practical application in the detection of cervical cancer as well, an area in which AccuMed currently specializes, a market estimated at approximately $2 billion annually. AccuMed will assume responsibility for manufacturing, quality control and marketing for Oncometrics gynecological products, where it has an established presence with its AcCell(TM) products. In addition, the Company receives certain rights to other technologies. AccuMed will have representation on Oncometrics Board of Directors. "The joint venture with Xillix, involving Oncometrics, is consistent with our strategy of finding compatible cytopathology laboratory and diagnostic products to enhance and expand our product line and our international market outreach," Gombrich said. "We regard this as a significant technology partnership arrangement with the potential for longer-term sales and broader product lines." END Interesting how QLT and Oncometrics/AccuMed are both Canadian based operations. Please correct me if I am wrong but wouldn't this recent FDA approval to QLT be good news for Oncometrics/AccuMed? Wouldn't the FDA approval of the photo-dynamic technology for QLT set precedence as a "similiar or existing technology" for Oncometrics/AccuMed's attempt to obtain PMA or 501 submittal for their Light Imaging Florescence Endoscopy (LIFE) system for cervical cancer detection? I realize that one is a "treatment device" while the other is a "detection device". It would seem that both share similiar attributes. Namely the photo-light aspect application to cancer. If not deemed similiar, then in the very least it would appear that Oncometrics/AccuMed seem to be on the right track with their L.I.F.E. system for the detection of cervical cancer. Any information regarding the progress of Oncometrics/AccuMed and the status/timetable of the LIFE system would be aprreciated. Thanks for shedding any light on this matter. <g> Frank BTW: For new shareholders of AccuMed: AccuMed later acquired another 1/3 interest in Oncometrics bringing their total ownership up to a majority owned 2/3 rds level.