Developing the Next Generation of Point-of-Care Specimen Imaging
This Perimeter Medical Imaging AI profile is part of a paid investor education campaign.*
Perimeter Medical Imaging AI Inc. (TSXV:PINK) is a medical technology company driven to transform cancer surgery with advanced, real-time imaging tools to address areas of high unmet medical need. The company is focused on the development and commercialization of advanced in-procedural medical imaging tools, including the company’s flagship OTIS™ platform, which is capable of providing real-time, ultra-high resolution subsurface images of excised tissue.
Perimeter is also developing a novel artificial intelligence algorithm called ImgAssist, designed to identify regions suspicious for breast cancer in OTIS™ images of excised lumpectomy specimens. In May 2020, Perimeter Medical was awarded $7.4 million by the Cancer Prevention And Research Institute of Texas (CPRIT) to fund their ATLAS AI project and the development of ImgAssist. During the first stage of the project currently underway, Perimeter Medical is collecting OTIS™ images of lumpectomy specimens from approximately 400 patients at leading cancer centers in Texas including MD Anderson, Baylor, and UT San Antonio, and use this data to refine and test the ImgAssist algorithm. The second stage of the project will fund a pivotal study aimed at demonstrating the impact of ImgAssist in breast lumpectomy outcomes.
Perimeter was recently awarded a US Patent covering technical aspects of algorithm-based tissue differentiation, including novel systems and methods for the automated identification of features using optical coherence tomography images in addition to methods used to automatically assess degrees of tissue differentiation.
Perimeter Medical Imaging’s Company Highlights
- Perimeter’s OTIS™ platform is cleared by FDA as an imaging tool in the evaluation of excised human tissue microstructure by providing two-dimensional, cross-sectional, real-time depth visualization, with image review manipulation software for identifying and annotating regions of interest
- The OTIS™ platform includes a capital surgical cart plus a high margin single-use tissue handling component
- Awarded a $7.4 million grant by the Cancer Prevention and Research Institute of Texas, a leading state body funding cancer research, for the development of ImgAssist, an AI-based algorithm designed to assist clinicians with identification of regions suspicious for breast cancer
- Targeting the global medical imaging market, including the breast cancer market which is expected to create medical expenditures of $16.5 billion in 2020 according to the National Cancer Institute
- Owns four patents to date, with another five pending approval in the United States and internationally
- Partnered with leading hospitals in Texas for clinical data collection and pivotal study execution
- Insiders at Perimeter Medical hold approximately 40 percent of shares
Perimeter Medical Imaging’s Management Team
Merle Thomas Boon—Chief Executive Officer
Prior to joining Perimeter, Tom was President of Summit Industries, LLC for the past nine years. Summit is a privately held Niles, Illinois based developer, manufacturer and distributor of radiographic systems for the medical, chiropractic and veterinary market segments. Tom has nearly 40 years of sales, product management and senior management experience with global, mid-size, public and privately held companies that manufacture and distribute consumables, devices and services for the healthcare market. He had five years expatriate experience in England responsible for Eastman Kodak Company’s Healthcare Imaging’s analog business in Europe, Africa and the Middle East and three years expatriate experience in Canada prior to joining Summit Industries. He is a graduate of Baldwin Wallace College in Ohio with a degree in Business Administration and served two years active duty in the U.S. Army.
Jeremy Sobotta—Chief Financial Officer and US President
Jeremy Sobotta became our CFO in December of 2019. Prior to joining Perimeter, Mr. Sobotta was the controller for the orthopedics division of Smith and Nephew, and from 2008 – 2019, he held roles of increasing responsibility at Stryker including internal audit, finance transformation, commercial excellence, financial planning and analysis, and ultimately leading finance for their surgical business unit. Mr. Sobotta brings to the role diverse medical device commercialization experience having lived and worked in North America, Europe, and Africa supporting commercial organizations across a wide range of medical technology including capital equipment, robotics, and implants.
Elizabeth Munro—President of Canadian Operations, Founder
Liz Munro is a high-energy executive with over 10 years of demonstrated success in the medical imaging space. She has led the FDA clearance of three products, overseen clinical studies involving more than 350 patients and played a key role in raising nearly $30M in dilutive and non-dilutive capital. Skilled in strategic planning, product development and program management, she also excels in crafting regulatory strategies to meet product and business needs. Liz was part of the founding team at Perimeter Medical Imaging and currently serves as President overseeing nearly 25 employees. Prior to Perimeter, Liz most recently worked for Tornado Medical Systems where she was the project lead for the development of a high-performance optical spectrometer platform with a wide range of applications in medical and chemical analysis. Liz holds a Bachelor of Science (Honours) in Physics from McGill University and a Masters of Applied Science in Biomedical Engineering from the University of Toronto.
Andrew Berkeley—Business Development, Founder
Mr. Berkeley brings over 15 years of experience in the optical and medical imaging space. He has held technical and leadership roles at multiple start-up companies with responsibilities in market development, new product introduction, product development and service, and business development. Andrew holds a degree in Electronic Engineering from the Institute of Technology Tallaght and a Masters in Optical Electronic Engineering from the University of Hull.
Carl Gazdzinski—Engineering & Manufacturing
Mr. Gazdzinski brings over 14 years of progressive experience in medical device engineering and development. He has worked in technical and leadership roles in which ground-up technology innovation was hardened into products suitable for manufacturing and subsequently launched commercially with success. Carl has a proven track record of contributing to and leading dynamic teams that execute on deliverables and build value. He provides experience spanning both start-up and established OEM environments, including team leadership through merger and acquisition. Carl holds a B.Sc. in Biology, B.Eng. in Mechanical Engineering and an M.Sc. in Medical Biophysics (all from the University of Western Ontario).
David Rempel—Research and Development, Founder
Mr. Rempel has seven years of experience in diagnostic imaging including technical and research roles in three startups. His expertise is centered on medical imaging techniques with an emphasis on image analysis, novel imaging device development, and radiation dose delivery assessment. David holds a B.Sc. in Physics and an M.Sc. in Medical Physics (both from McGill University).
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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Perimeter Medical and seek advice from a qualified investment advisor.