Resonance Health extends distribution deal with Novartis

Claremont-based magnetic resonance imaging technology developer Resonance Health Ltd has extended the distribution deal for its liver iron monitoring device FerriScan with Switzerland-based Novartis AG, the company has announced.

The full text of a company announcement is pasted below

Resonance Health Ltd (ASX: RHT) is pleased to announce that it plans to enter into a long term contract with Novartis extending our existing relationship for the delivery of the FerriScan® service in a range of clinical studies undertaken by Novartis.

The scope of activities being provided to Novartis is anticipated to generate in excess of AU$1,000,000 in revenue in the 2007/2008 financial year.

Under this and related agreements, FerriScan® will be made available in countries including Australia, Germany, Italy, Spain, Singapore, Poland, Japan, UK, Saudi Arabia, Sri Lanka, Turkey, Lebanon and Egypt and will provide the opportunity for the global clinical community involved in the management of patients suffering iron overload disorders to gain access to the FerriScan® test.

Resonance Health is also delighted to announce that during October 2007 it achieved a significant milestone with the establishment of the 100th MRI facility providing the FerriScan® service.

FerriScan® is used in the diagnosis and management of iron overload in disease states such as hereditary haemochromatosis, thalassaemia, sickle cell anaemia and myelodysplastic syndrome. FerriScan® uses existing magnetic resonance imaging (MRI) technology at radiology facilities worldwide to provide noninvasive measurements of liver iron levels.

FerriScan® has achieved regulatory clearance to be marketed in Australia, USA, UK, Europe, Canada and New Zealand. Further information about Resonance Health and FerriScan® can be obtained from the web site.