Intermagnetics’ Invivo Subsidiary Awarded $500,000 Federal Grant to Develop Advanced MRI System to Diagnose, Treat Brain

Intermagnetics’ Invivo Subsidiary Awarded $500,000 Federal Grant to Develop Advanced MRI System to Diagnose, Treat Brain Injuries

Posted By Scarlett Law Group || 1-Aug-2006

Invivo Partners With Office of Naval Research to Devise Substantial Improvement in Caring for Casualties From Overseas Combat Zones

LATHAM, N.Y., April 11 /PRNewswire-FirstCall/ — Intermagnetics General Corporation (NASDAQ: IMGC) today announced that its subsidiary, Invivo Corporation, has been awarded a $500,000 Department of Defense grant to develop an integrated hardware and software system that will enable high-resolution magnetic resonance imaging (MRI) of traumatic brain injuries and promote substantially more effective diagnosis and treatment in many difficult cases. Invivo is partnering with the Office of Naval Research on the project.

Rep. Cliff Stearns (R-Fla.) is scheduled to formally announce the award during an appearance at Invivo’s Gainesville, Florida facility today at 9:00 AM EDT.

“Brain injury is the second leading cause of battlefield deaths, and this grant is intended to provide a means of diagnosis and treatment that, in many cases, is not totally reliable under current procedures,” Stearns said. “We owe it to our wounded military personnel returning from combat duty to have the best possible care available.”

Tom Schubert, chief technology officer of Invivo, added: “We believe Invivo’s advanced MRI radio frequency coils, which enable highly detailed organ-specific imaging, combined with modifications to our innovative DynaCad computer-aided diagnostic system will provide the solution the military is seeking.

“Currently,” Schubert added, “computed tomography (CT) is the main radiological tool for diagnosing traumatic brain injury patients. Yet every radiologist is aware that CT’s effectiveness in assessing brain trauma is limited to visualizing fractures and significant hematomas but is ineffective in diagnosing more subtle injuries.

“For example, CT does not provide the fine soft tissue discrimination required to localize and investigate small white matter lesions, such as the shear lesions and micro-bleedings that are common in traumatic or concussive brain injury. Nor can CT be used in the investigation of subarachnoidal hemorrhage. Subarachnoidal hemorrhages must be fully investigated in a very timely fashion, or they may lead to extremely dangerous secondary strokes.”

Schubert noted that the Invivo solution would be used in the highest-field MRI systems available, such as those powered by Intermagnetics’ 3.0 Tesla magnets. Invivo, working with the Office of Naval Research, expects to deliver evaluation models of both the advanced imaging hardware and the analysis software this year. Naval neurologists, neurosurgeons, and traumatic brain injury specialists will conduct scientific and clinical evaluation of the prototypes.

Intermagnetics ( draws on the financial strength, operational excellence and technical leadership in the market of Magnetic Resonance Imaging (MRI), as well as its expanding businesses within Medical Devices that encompass Invivo Diagnostic Imaging (focusing on MRI components & imaging sub-systems) and Invivo Patient Care (focusing on monitoring & other patient care devices). Intermagnetics is also a prominent participant in superconducting applications for Energy Technology. The company has a 35-year history as a successful developer, manufacturer and marketer of superconducting materials, high-field magnets, medical systems & components and other specialized high-value added devices.

Safe Harbor Statement: The statements contained in this press release that are not historical fact are “forward-looking statements” which involve various important assumptions, risks, uncertainties and other factors. These forward-looking statements are based on currently available competitive, financial and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain and are subject to risks, including but not limited to: the company’s ability to meet the performance, quality and price requirements of our customers, develop new products and maintain gross margin levels through continued production cost reductions and manufacturing efficiencies; the company’s ability to avoid the potential adverse impact of competitive emerging patents; as well as other risks and uncertainties set forth herein and in the company’s Annual Report on Forms 10-K and 10-Q. Except for the company’s continuing obligation to disclose material information under federal securities law, the company is not obligated to update its forward-looking statements even though situations may change in the future. The company qualifies all of its forward-looking statements by these cautionary statements.

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