Principal Investigator Selected for Local SBIR-Funded Development Program

Noninvasive Deep Tissue Temperature Monitoring Company Wins Highly Competitive NIH Award

SALT LAKE CITY — May 2, 2013 — Douglas Reudink, Ph.D., of Port Townsend, Washington, has been named principal investigator of a program funded by a recently awarded Small Business Innovation Research (SBIR) grant to develop a unique noninvasive deep tissue monitoring system.

Dr. Reudink is the Vice President of Research and Development at ThermImage, Inc., a start-up medical device company based in Salt Lake City, Utah. He has more than forty years of experience in wireless, radio, and high technology, both as a contributor to the field and as a manager of engineers and scientists. Dr. Reudink spent 21 years at Bell Laboratories and received several pioneering patents which helped to enable the development of cellular telephones. As a manager, he oversaw the Nobel Prize winning radio astronomy group credited with discovering the remnants of the Big Bang. From 1986 to 1991, he managed the electronics R&D for Boeing Aerospace and Defense. In 1995, he founded Metawave Communications, which developed smart antennas for cellular base stations. Shortly after after taking Metawave public, he left to pursue other start-up ventures. Dr. Reudink holds more than fifty patents and has published more than forty papers. Dr. Reudink received his BA in physics from Linfield College and a Ph.D. in mathematics from Oregon State University.

ThermImage, Inc., was awarded a Phase I Small Business Innovation Research Grant by the National Institutes of Health, which is part of the Department of Health and Human Services. Fewer than 20% of all applications are approved and funded by the agency.

“The news that we have been selected to receive funding to further develop our unique technology is tremendously exciting,” said Doug Turnquist, president and chief executive officer of ThermImage. “But more important is the affirmation of this technology by the National Institutes of Health of our belief that we not only have a unique and exciting technology but also that we have a technology that will improve patient care while decreasing overall costs of care by reducing costly complications. We are very fortunate to have a scientist and manager of Dr. Reudink’s stature overseeing the development of this technology.”

The award was made to support ongoing development activities for the AccuCor DTMS™, a noninvasive brain temperature monitoring system that is currently in the final stage of development before being submitted for regulatory approvals to make the system available for use in hospitals worldwide. The ability of the system to provide brain temperature information to physicians promises to reduce neurological complications in cardiac surgery and to improve outcomes in patients being treated in neurological intensive care units.

ThermImage expects to receive CE Marking within the next year, which will allow the system to be marketed in Europe. The Company will also seek clearance for the AccuCor DTMS™ from the U.S. Food and Drug Administration to support a U.S. market launch in 2014.

About ThermImage, Inc.

ThermImage, Inc. (www.ThermImage.com) is a Salt Lake City-based developer of noninvasive deep tissue temperature monitoring and imaging systems. The company focuses on radiometry-based diagnostic and monitoring systems that directly measure temperature deep within the body. This platform technology is expected to provide heretofore unavailable brain temperature information, simple and accurate body core temperature measurement, and diagnostic procedures that are safer, less traumatic, and more cost-effective than current alternatives.

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