BT BeaMedical, Shina Systems enter strategic development agreement

BT BeaMedical Technologies, a private company minority-owned by Innovation Pharmaceuticals, has notified the Company that it has entered into a definitive strategic agreement with Shina Systems, a company specializing in medical imaging software platforms, in order to build on unique capabilities of Shina and accelerate the development, regulatory clearance, and commercial deployment of BeaMed’s StingRay Laser System for brain surgery. BeaMed is the inventor and developer of the StingRay Laser System, a novel laser-based thermal ablation technology designed for treatment of previously inoperable cases of epilepsy and for improvement of outcomes and minimally invasive surgical options for brain tumors. "This agreement provides us with two key strategic advantages," said Gil Shapira, Chief Executive Officer of BeaMed. "The first is immediate access to decades of experience and knowledge regarding design and implementation of high end medical imaging platforms including MRI access, 3D image processing and visualization, and superlative usability. The second is acceleration of our development timeline to get through FDA clearance and market launch quickly. This path underscores the execution-focused strategy of BeaMed to successfully bring its innovation to the market efficiently and expeditiously."