Medifocus Begins OTC Trading (OTC:MDFZE)

Medifocus, Inc (OTC:MDFZE) has announced that they have begun trading their common stock on the over the counter (OTC) pink sheets market from Dec. 7, 2009. Medifocus owns a patented Adaptive Phased Array also known as APA which is a microwave focusing technology platform which was developed by the Massachusetts Institute of Technology (MIT). The APA technology focuses on heat thermotherapy system which can precisely target and concentrate microwave energy to destroy cancer tumors anywhere in the body without damaging healthy tissue. The Company is also working on clearance from the US Food and Drug Administration for their Microfocus APA 1000 Focused Heat Thermotherapy System which will be used for the treatment of breast cancer in the United States and worldwide.

In the middle of this year, Medifocus announced that Health Canada had granted full ITA approval to allow the initiation of Medifocus’ pivotal phase III clinical trial on focused heat treatment of breast cancer. Later they filed a comprehensive Investigational Device Exemption (IDE) application with the FDA to obtain clearance for the same microwave system in the United States. The focused heat treatment provided by the Company’s APA 1000 system, once commercialized, should in a position to help those patients who desire breast conservation by significantly improving their chance of attaining the desired tumor shrinkage to avoid a mastectomy. CEO and Chairman of Medifocus, Dr. Augustine Cheung said that clearance from the FDA about their IDE will be a significant milestone for Medifocus to work towards the globalization of this thermotherapy system.

Tags: MDFZE

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