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Novadaq Technologies Inc.
Medical Devices & Tech
2585 Skymark Avenue, Suite 306
Mississauga, Ontario L4W 4L5 Canada
phone:905.629.3822
fax:905.629.0282
Symbol NDQ.TO
Exchange TSX
Founded 2000
Employees 25
www.novadaq.com
Research Sector Medical Devices & Tech
Summary Description
Real-time imaging to assess organs, tissues, and vessels during surgery
Management
Arun Menawat, President and Chief Executive Officer; Rick Mangat, Sr. Vice President and General Manager; Stephen Purcell, Chief Financial Officer; Mary Kay Baggs, Vice President Marketing and Business Development Lori Swalm, Vice President Product Development; Douglas R. Carroll, Vice President Sales; Roger Deck, Vice President Operations
Ownership
Financials Mkt Cap :219
* numbers in thousands
 

Keywords
fluorescence imaging, endoscope, heart surgery, plastic reconstructive surgery, breast reconstruction, gastrointestinal, cancer, heart disease

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Updated: May 01, 2012

Description
Novadaq Technologies develops and markets real-time fluorescence imaging technologies for usage in the operating room. The Company's primary core technology platform, SPY® Imaging, provides clinically relevant, anatomically accurate, angiographic images for a wide array of surgical procedures, while reducing post-operative complications as well as hospital costs. SPY® technology is FDA-cleared for usage in coronary artery bypass, cardiovascular, reconstructive, micro-, organ transplant, and plastic surgery, and early studies indicate that SPY® also improves treatment in the area of wound care. An alliance that the Company entered in 2009 led to the development of an integrated system consisting of SPY® Imaging and Intuitive Surgical®, Inc.’s da Vinci® Surgical Robotic System, which received FDA 510(k) clearance to market in early 2011. In late 2010, Novadaq entered another alliance with LifeCell™ Corporation that entails the application of SPY® in open plastic and reconstructive, gastrointestinal, and head and neck surgery. This later-stage medical device company continues to explore technology alliances for its imaging platforms.
Products / Services
Novadaq's SPY Intra-operative Imaging System, commercially available worldwide, enables surgeons to more effectively treat cardiac and vascular blockages; assess blood flow; identify cancerous tumors and delineate tumor margins; and visualize relevant lymph nodes for removal. The endoscopic SPY System combines all of the capabilities of SPY Imaging with state-of-the-art high definition (HD) white light visualization offered by conventional endoscopes.
Technology / Differentiation
The Company's primary core technology platform, SPY Imaging, provides clinically relevant, anatomic and physiologic images during a wide variety of complex open and minimally invasive surgical ('MIS') procedures. SPY empowers surgeons treating life-threatening illnesses such as breast, colon and other cancers and cardiovascular disease to more effectively treat vascular blockages and assess tissue perfusion. More than 40 peer-reviewed publications demonstrate that SPY Imaging leads to fewer post-operative complications and reduced hospital costs. The SPY Imaging System is cleared by the United States Food and Drug Administration (FDA) for real-time use during open surgical procedures and the endoscopic implementation of SPY Imaging (SPY Scope) is FDA cleared for real-time use in MIS.
Market / Customers
The Company's key markets include plastic reconstructive, gastrointestinal, cardiac and general surgery. To realize the full potential of its SPY Imaging technology platform, Novadaq explores technology alliances.
Competitors / Substitutes / Alternatives
X-ray angiography and CT.
Funding
Novadaq Technologies is a publicly traded company.
Status
To realize the full potential of its SPY Imaging technology platform, Novadaq explores technology alliances. Novadaq announced its first alliance with Intuitive, in January 2009, to integrate SPY Imaging into the 3-D HD imaging capabilities of the da Vinci Surgical Robotic System. In addition, Novadaq entered into an exclusive, North American sales and marketing alliance with LifeCell Corporation (LifeCell) in plastic and reconstructive, gastrointestinal and head and neck surgery in September 2010. Novadaq is the exclusive United States distributor of PLC's CO2 HEART LASER SYSTEM, which is used in the same cardiac procedures as the SPY System.


2012-05-24-3795