VANCOUVER, BC – April 27, 2023 – Izotropic Corporation (“Izotropic” or the “Company”) (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3), a medical device company commercializing IzoView, a dedicated breast CT (computed tomography) imaging platform, for the more accurate detection and diagnosis of breast cancers, announced that in addition to pursuing the development of the device, it has been exploring an enhanced go-to-market strategy with its IzoView platform, to potentially accelerate the time to market and/or broaden indications for use, in order to improve product’s ROI to the hospitals and reduce time and cost to get to commercial readiness.
As a result, during the first quarter of 2023, the Company has been fully focused on the following three business initiatives:
- Completing its operational plan for the current go-to-market strategy.
- Investigating the alternative go-to-market approval pathways.
- Identifying and securing new funding sources.
Details on each initiative:
The operational plan and financial model for the existing go-to-market strategy is now complete thanks to the active participation of the management and Board of Directors. The total addressable market in terms of devices and procedures, the average selling price, and the cost reduction roadmap have been well researched and summarized.
In December of 2022, the Company became aware of other possible market approval pathways to potentially accelerate time to market and expand the utility of IzoView. The discovery of alternative approaches has led to thorough investigation to accelerate time to market with alternative indications for use, including preparation of plans, data, and rationales to support accelerated market approval. If successful, the benefits will include reducing costs and expediting time to market while enabling the Company to continue to conduct clinical studies to support additional future claims. The Company has also enlisted new regulatory experts to advise on the accelerated approval proposal which will be presented and reviewed by FDA in an upcoming scheduled meeting.
The Company has been focused on identifying and pursuing funding sources that could provide injections of capital in tranches for both existing and broader business objectives. The plan is to secure capital in progressive tranches tied to milestones to limit dilution while building value and increasing the Company’s market capitalization as progress is made. With the new operational plan and financial modelling completed, meetings are now being scheduled with funding sources that have expressed interest.
ON BEHALF OF THE BOARD
Investor Relations Contact:
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About Izotropic Corporation
Izotropic Corporation is the only publicly traded company commercializing a dedicated breast CT imaging platform, IzoView, for the more accurate detection and diagnosis of breast cancers. To expedite patient and provider access to IzoView, Izotropic's initial clinical study intends to demonstrate superior performance of diagnostic breast CT imaging over diagnostic mammography procedures. In follow-on clinical studies, Izotropic intends to validate platform applications, including breast screening in radiology, treatment planning and monitoring in surgical oncology, and breast reconstruction and implant monitoring in plastic and reconstructive surgery.
This document may contain statements that are "Forward-Looking Statements," which are based upon the current estimates, assumptions, projections, and expectations of the Company's management, business, and its knowledge of the relevant market and economic environment in which it operates. The Company has tried, where possible, to identify such information and statements by using words such as "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate" and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words.
These statements are not guarantees of performance and involve risks, including those related to capital requirements and uncertainties that are difficult to control or predict, and as such, they may cause future results of the Company's activity to differ significantly from the content and implications of such statements. Forward-Looking Statements are pertinent only as of the date on which they are made, and the Company undertakes no obligation to update or revise any Forward-Looking Statements to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law. Neither the Company nor its shareholders, officers, and consultants shall be liable for any action and the results of any action taken by any person based on the information contained herein, including, without limitation the purchase or sale of Company securities. Nothing in this document should be deemed to be medical or other advice of any kind. All images are for illustrative purposes only. IzoView is not yet approved for sale.