Hanford News
Welcome to the Hanford News
Edit Profile
Log Out

Home
News/Archives
Opinions
History
Photos
Press Releases
Documents
Related Links
Contact us
Showdown on nuke waste storage
Wednesday December 20th 2006

Bush signs bill for nuclear cooperation with India
Monday December 18th 2006

Re-planting to begin at Reach
Monday December 18th 2006

Buildings at PNNL research campus sold
Friday December 15th 2006

Reports: Russia will refit Topol strategic nuclear missiles with multiple warheads
Friday December 15th 2006

Email Story
Print Story

tool name

close
tool goes here
AIT goes worldwide with latest technology

This story was published Sunday December 10th 2006

By Mary Hopkin, Herald staff writer

In two years, executives at Advanced Imaging Technologies Inc. have gone from knocking on doors seeking venture capital to introducing their holographic dense breast imaging system to Asian health care professionals.

During October, they traveled to Korea and Taiwan with a trade mission led by Gov. Chris Gregoire.

And in November, the company collected $2.5 million in Series A private equity financing - stock offered to venture capitalists that can later be converted to common stock if a company goes public or is sold.

They also closed a deal with Cedara Software, a part of publicly traded Merge Healthcare, to develop software to use with the Richland company's ARIA Breast Imaging System.

"By this time next year, we should be ramping up production," said Michael Hartwig, the chief financial officer.

The company, headed by CEO Lura Powell, plans to produce its ARIA Breast Imaging System in Richland on a manufacture-to-order basis and is already working with several interested Asian companies.

"Asia represents a significant market opportunity for our company and our technology," Powell said.

That's because Asian women generally have dense breast tissue, which can make it difficult for traditional mammography to detect cancerous tumors or abnormalities. In a report published by the National Institute of Health, the National Cancer Institute claimed a high level of cancers reside in dense breast tissue.

The ARIA system, which is in use at Kadlec Medical Center, uses ultrasound to produce a hologram of the breast in a three-dimensional view, without using radiation.

Anna Gutowska, the director of chemical applications, said the company doesn't see its system as a replacement for traditional mammography but rather as a tool doctors can use in conjunction with mammograms.

"This will fill a niche where mammography has problems and fill a critical need," she said.

Hartwig said during the October trade mission, Asian companies were "very interested," and the company is also working with Asian health care professionals they met with during a radiological trade meeting in Chicago a few weeks ago.

"The relationships that we established during the trade mission will have long-term economic and strategic benefits," he said. "Meeting with key Asian regulators and business executives to introduce our product will facilitate expedited approval and the time to market."

In addition, the company partnered with Cedara in late November to develop custom software to provide advanced image processing and analysis features, like skin line detection and image stitching.

Getting the system to health care professionals is important, Powell said, but so is increasing its capability.

"Our strategic relationship with Cedara gives us both," Powell said. "Cedara's highly experienced engineering team will allow us to do more – faster."

As part of the deal, Cedara acquired a "small" equity staking in AIT, as well, and the companies will promote the ARIA system jointly.

"We believe the partnership will also expedite acceptance of the product," said Hartwig.

Company's founder George Garlick developed the acoustical holography technology with other collaborators in the 1960s for industrial applications and later realized it may have potential in medicine.

Garlick's son, Todd Garlick, is AIT's principal engineer and helped design and manufacture the ARIA system, which has received clearance for breast imaging and image-guided breast biopsy from the federal Food and Drug Administration.

The company has 14 U.S. patents for holographic ultrasound and four pending foreign patent applications.

The $2.5 million the company received in venture capital will be used in sales and marketing.

The ARIA systems will be manufactured in Richland and sell for $200,000 to $300,000, Hartwig said.


Dept. Of Energy: Department of Energy faces huge cost increases

10/07/2008

Fluor: More than 180 Fluor layoffs announced

09/29/2008

Battelle/PNNL: Battelle receives contract extension from DOE

10/06/2008

CH2M Hill: Leak ruled out in probe of Hanford's underground tank waste

08/15/2008

Washington Closure: Hanford crews make progress on 618-7 Burial Ground

08/17/2008

Homeland Security: Murray sees terrorist, fire, other training at HAMMER

08/08/2008

Cleanup: 3 Tri-City companies win $12 million Hanford subcontract

10/02/2008

Energy Northwest: Energy NW's Remington re-appointed to board

09/04/2008

B Reactor: B Reactor named National Historic Landmark

08/26/2008

Vit Plant: Hanford vit plant pigeon problem passes

09/26/2008


Find a Job
Keywords:
Location:



News | History | Related Links | Opinions

Press Releases | Documents