DR. DAVID CHERESH TO LEAD DOBI MEDICAL SYSTEMS' SCIENTIFIC ADVISORY BOARD
MAHWAH, NJ, January 29, 2001. DOBI Medical Systems, LLC today announced that David Cheresh, Ph.D., a leading scientific expert in the area of angiogenesis research, has agreed to head the Scientific Advisory Board for the Company. Dr. Cheresh, who has been conducting research for more than 18 years at the renowned Scripps Research Institute in La Jolla, California, is well known throughout the world for his leading edge research in the area of angiogenesis, or the growth of new blood vessels within the human body. Angiogenesis is thought by many in the scientific community to be the "common denominator" in society's most significant diseases, including cancer, heart disease, blindness, arthritis, and more than 70 other conditions.
"I am pleased to be a part of the Scientific Advisory team for DOBI Medical Systems," said Dr. Cheresh. "They are a talented group of creative thinkers with technology that will make a difference in the angiogenesis world. I believe this technology represents a breakthrough in the imaging of cancer as it represents a non-invasive cancer strategy to identify the most dangerous tumors based on their angiogenic signature." Company CEO, Phillip C. Thomas stated, "David Cheresh is widely known for his basic and applied research in the field of angiogenesis development and anti-angiogenesis therapies. We are fortunate to be in a position to interact with him in our development of new diagnostic tools based on deciphering the appearance of angiogenesis in the human body. During the coming months, with Dr. Cheresh's advice, we will be working to continue our product development."
DOBI Medical Systems is developing an angiogenesis based diagnostic imaging system initially being tested as a device to non-invasively differentiate benign from malignant lesions within the human breast. A key goal of the DOBI System is to substantially reduce the number of benign invasive breast biopsies while maintaining a high sensitivity to true malignancies. These surgical biopsy procedures, which often produce benign results, are estimated to cost over $5 billion annually worldwide.
The DOBI System provides a digital, non-invasive, pain free diagnostic test that takes less than 10 minutes to complete. At this time, the DOBI System is designated an investigational device and thus may be used only for research purposes in the U.S. pending FDA approval. Use abroad is subject to the regulations of the respective country.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition to the factors set forth above, other important factors that could cause actual results to differ materially include, but are not limited to, technical risks associated with new technology development, government regulatory approval, market acceptance of our product, competition and technological change.
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