XLR paediatric-optimized MRI workflow to address unmet need in imaging

TORONTO, July 5, 2011 /CNW/ - HTX announced today it provided $475,385 in financing to XLR lmaging Inc. (www.xlrimaging.com) through their Technology Acceleration Program. The company is developing a complete paediatric-optimized MRI workflow solution designed to directly address the unique challenges in paediatric imaging while developing high resolution images and reducing scan times.

An essential component of the project is XLR's collaboration with leading luminary sites, such as Boston Children's Hospital and Toronto's Hospital for Sick Children (SickKids), in the design, development, and testing of XLR's pediatric coils.

Enzo Barberi, XLR Imaging founder and CTO, summarizes "We are leveraging our expertise and collaborations with world leading research institutions in neuro MRI to develop a solution that address the unique challenges of paediatric MRI.  Our solution offers unprecedented imaging quality and speed which enables improvements to clinical workflow and the reduction or elimination of Sedation or General Anaesthetics which can increase MRI costs by a factor of 3 to 10.  We are encouraged by our progress to date which has attracted the interest of potential OEM partners, the investment community, and early adopters of the technology".

"Our collaborations with leading paediatric hospitals such as SickKids and Boston Children's have confirmed an unmet clinical need in paediatric MRI. XLR has the right technology assets and clinical partners to develop a truly unique system that is specifically designed for the paediatric patient. The funding from HTX accelerates commercialization of the technology and supports our efforts to gain a critical first mover advantage in this market," states CEO-Designate, Nick Hoffman.

John Soloninka, HTX's President and CEO comments, "OEMs would prefer to partner with a company that has developed a market validated paediatric MRI solution than develop in house. This represents an opportunity for XLR to gain first mover advantage particularly with luminary children hospital sites that will be a critical component of the company's market development strategy."

CHALLENGES WITH CURRENT PAEDIATRIC MRI

• Paediatric MRI typically involves the use of coils designed for adults which results in poor resolution or inability to image small body structures in children.
• The paediatric imaging segment has historically been poorly served by the OEMs and there has been little availability of dedicated RF coils and related applications. Yet the number of pediatric MRI cases continues to increase.
• The use of anaesthetics for pediatric imaging is a growing concern as it increases risk to the patient and introduces workflow and resource challenges associated with need of having an anaesthesiologist available for imaging cases.

BENEFITS OF THE TECHNOLOGY AND TO ONTARIO

• Lower use of anesthetics improves safety for patients and reduces cost;
• State-of-the-art imaging provides unprecedented speed and quality; thereby
• Increasing patient throughput; and
• Creates a company and related jobs focused on delivering products globally.

ABOUT XLR IMAGING (WWW.XLRIMAGING.COM)
XLR Imaging is a London-based private company that develops and manufactures high performance Magnetic Resonance Imaging (MRI) RF Coils, used as the detector during MRI procedures. XLR historically specializes in neuro-imaging and spectroscopy RF coils with expertise in multi-channel conformal array design and has sold their products to leading research institutions and hospitals.   XLR was formed in 2001 through a partnership between Robarts Research Institute and its engineers and scientists to commercialize the MRI coil technology.

ABOUT HTX (WWW.HTX.CA)
From Invention through to Innovation to International Invoice, HTX supports emerging and established Ontario-based companies to develop, produce and commercialize innovative market-leading advanced health technologies. HTX is funded by the Government of Ontario through the Ministry of Research and Innovation and is a member of the Canadian Venture Capital Association and the Ontario Network of Excellence. For more information about the Health Technology Commercialization Program, please visit www.htx.ca.

For further information:
Marcelle Mundle, Marketing and Communications Manager
mmundle@htx.ca/647-258-0381x223