VANCOUVER, BC – December 16, 2022 – Izotropic Corporation (“Izotropic” or the “Company”) (CSE: IZO) announces that it has determined that the Company needs to file amended and restated financial statements for the three months ended July 31, 2022 as a result of the previously filed interim financial statements for the three months ended July 31, 2022 having now been reviewed by the Company’s auditors. Accordingly, the unaudited interim financial statements for this period have been amended and restated. The Company has filed the amended and restated financial statements for the three months ended July 31, 2022 and the corresponding refiled certifications on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
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About Izotropic Corp.
Izotropic Corporation (the Company) and its wholly owned U.S. operating subsidiary, Izotropic Imaging Corp. have been established to commercialize the next generation of breast imaging technology for early diagnosis of breast cancer. The Izotropic Breast CT Imaging System produces high resolution breast images in 3D. A single 10 second breast CT scan acquires approximately 500 images, without painful breast compression, providing radiologists with fully 3D viewing of the scanned breast. Mammography scanning requires compression of the breast between 2 imaging plates, resulting in 2D images.
The Company has the exclusive license from the University of California, Davis (UC Davis) to commercialize the technology developed by principal founder and Company director Dr. John M. Boone and researchers at UC Davis. The license includes all intellectual property, trade secrets, patents and patent-pending applications that are the foundation of the Company’s breast CT imaging platform.
Approximately $20 million in research funding and over 15 years of research and development have been invested in developing this groundbreaking breast CT imaging technology. Research includes a current, fully funded $2.9M U.S. clinical trial at UC Davis Medical Center.
The Company founders believe that this technology will be a disruptive entry to the market, overcoming many of the challenges faced by existing breast imaging modalities.