Nexoptic Technology Corp NXO

VANCOUVER, BC and SEOUL, South Korea, March 14, 2023 /PRNewswire/ - ("NexOptic") (TSXV: NXO) (OTCQB: NXOPF) (FSE: E3O1) and ("IntroMedic") jointly announce that they have entered a non-binding memorandum of understanding ("MOU"). IntroMedic is a leading innovator in global capsule endoscopy technology and medical imaging analysis whose objective is to always improve the quality of its patented imaging and analysis medical offerings. Further detail can be found on IntroMedic's website: IntroMedic

"In our ongoing efforts to always put patients and medical experts first, I am very encouraged by the measurable improvements to image quality that NexOptic has been able to demonstrate to us." Said Mr. Andrew Shim, President of IntroMedic.

Capsule endoscopy is a procedure that uses a tiny wireless camera to take pictures of the digestive tract. IntroMedic's capsule endoscopy camera sits inside a vitamin-size capsule that is swallowed. As the capsule travels through the digestive tract, the camera takes thousands of pictures that are transmitted to a recorder worn on a belt around the patients' waist. Growing in popularity, capsule endoscopy is far less invasive and more comfortable to the patient than more traditional endoscopy procedures.

Specifically, IntroMedic's MiroCam^® capsule endoscope offers a broader field of view of 170 degrees which enables a more thorough diagnosis of parts of the digestive system, further its 12-hour operational time mitigates many concerns common in competitive offerings. Together with IntroMedic's patented Human Body Communication technology (HBC), its Augmented Live-body Image Colour-Spectrum Enhancement (ALICE) and its Medical Image Processing technology (MIP), MiroCam^® delivers many technological advantages when compared to its competitors.    

NexOptic and IntroMedic initiated dialogue late in 2021 and have undergone several stages of evaluation and development since.      

Paul McKenzie, CEO of NexOptic stated, "It's been an encouraging relationship with IntroMedic and we are excited for the possibility of playing a role in more technologies that further benefit human health and lifestyle."

Today's announcement demonstrates both companies' positive outlook on executing a potential per capsule, licence model. If successful, this would mark the second commercial deployment of ALIIS™ into medical imaging devices, a field that NexOptic is well-positioned to rapidly expand into due to demanding use-cases that are frequently dependant on small lens factors. 

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering world-leading patented and patent pending AI solutions for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm^® AI Partner Program, and a member of the Qualcomm^® Platform Solutions Ecosystem.

For more information, visit www.nexoptic.com

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans," "expects," "estimates," "intends," "anticipates," "believes" or variations of such words, or statements that certain actions, events or results "may," "could," "would," "might," "will be taken," "occur," or "be achieved." Forward-looking statements in this news release include, without limitation, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in NexOptic's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although NexOptic believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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SOURCE NexOptic Technology Corp.