Izotropic Corporation (IZO.C) announced today that it has entered into an agreement with Johns Hopkins University School of Medicine (JHU) to develop image reconstruction software to further improve the image processing performance of the Company’s IzoView Breast CT while minimizing computational burden.
Traditional diagnostic mammography presents a variety of challenges, including continual breast compression, significant technical skill requirements, and distorted images. When it comes to mammographies, 46% of patient non-compliance is due to pain. For those who don’t know, a mammogram is an X-ray picture of the breast that doctors use to look for early signs of breast cancer. Standing upright, a patient will have their breast placed on a plastic plate. Another plate will then firmly press from above, holding it still while the X-ray is taken. If you ask me, that sounds like a pretty awful time. In addition to being painful for some, it can take up to 20-40 minutes to capture all images. To make matters worse, mammography sensitivity is only 73%, which is reduced to 44% in patients with dense breasts. Keep in mind, 40% of patients have dense breasts.
On the contrary, Izotropic’s IzoView Breast CT provides a streamlined, accessible, and comfortable breast screening experience. Unlike conventional mammographies, the Company’s IzoView requires no breast compression, eliminating pain and discomfort from the process. Laying face down, patients are able to place their breasts in the imaging cup without the assistance of a technician. Moreover, IzoView captures approximately 500 image views in 10 seconds and provides improved imaging for patients with dense breast tissue. The images themselves may provide more accurate margin analysis, lesion characterization, and higher spatial resolution. Put simply, IzoView is intended to provide superior breast imaging while simultaneously improving a patient’s experience.
Getting back to the news at hand, JHU is recognized as a world leader in the development of image processing machine learning algorithms. With this in mind, Izotropic expects its collaboration with JHU will result in a novel set of learning-based approaches for the accurate identification and characterization of breast pathologies, including breast cancer and benign breast conditions. Looking forward, the Company intends to demonstrate the superior performance of its diagnostic IzoView Breast CT over currently diagnostic mammography procedures through an initial clinical study, set to be initiated in Q2 2022.
Financials
According to Izotropic’s financial results for the year ended April 30, 2021, the Company’s cash position increased significantly year-over-year from CAD$613,572 in 2020 to CAD$4,063,756 in 2021. Similarly, the Company’s total assets and total liabilities increased to CAD$4,686,024 and CAD$169,282, respectively. With this in mind, if successful, Izotropic’s IzoView clinical trial scheduled for Q2 2022 could provide the Company with a pathway to expedite patient and provider access to IzoView.
Izotropic’s share price opened at $0.79, up from a previous close of $0.76. The Company’s shares are up 3.95% and were trading at $0.79 as of 12:42 PM ET.