LAS VEGAS, Oct. 1, 2002 (PRIMEZONE) -- Coyote Ventures Corp. (OTCBB:CYTV) (the "Company") issued the following news release today to update the development of its endoscopic technology acquired August 16, 2002.
The Company has incorporated a wholly owned British Columbia subsidiary, August Research Corp. ("August"), to complete development of the technology. August is developing a low-cost, optical clinical cancer imaging system (the "CERVeyor System") for distinguishing normal from abnormal tissue. The Company believes that once this system is fully developed it will assist a physician, nurse or other clinical practitioner in identifying areas of abnormality on a woman's cervix that may require treatment. In addition, the Company believes that the CERVeyor System will allow clinical staff members with minimal training, to be able to detect areas of abnormality and disease margins with the sensitivity approaching that of an experienced colposcopist but with higher specificity. August has completed the final design of the optical filters for molecular imaging and encasements, and is now embarking on the manufacturing of test units.
The CERveyor System is based on a patented technology developed at the British Columbia Cancer Agency (BCCA). Researchers at the BCCA are known internationally for their work on the natural fluorescence of tissues. The three key areas of knowledge on which the CERVeyor System is based are a detailed and comprehensive understanding of the optical properties of tissue and how those "signature" properties change as cancer develops. The second is a thorough understanding of optics, spectral imaging and light sources for tissue illumination. The third is a comprehensive understanding of human vision. This encompasses the physiological and optical properties of the eye, the neural post-processing of optical signals from the rods and cones of the retina and the role of the brain in extracting shape and color information from these neural signals.
Cervical cancer is the second most common cancer in women worldwide and the leading cause of cancer mortality in women in developing countries. In the United States alone more than $6 billion is spent annually in the evaluation and treatment of low-grade precursor lesions. Cervical cancer goes undetected in developing countries because of the high cost of the tests (Papanicolaou smear, "PAP", scraping the ectocervix with a wooden or plastic spatula and the endocervix with a brush) and the lack of trained personnel and resources to screen and diagnose. In the U.S., Canada and Europe resources are wasted on the evaluation and treatment of lesions not likely to progress to cancer. The CERVeyor system could vastly improve both the screening and detection of cervical cancer while decreasing the cost.
Coyote Ventures Corp. and its subsidiaries are engaged in the research, development and commercialization of medical imaging technologies, which aids in the detection and localization of cancer.
Public Company Disclosure
This document may contain certain forward-looking statements regarding Coyote Ventures Inc. including statements about its operations, prospects and expectations about future financial results, including, but not limited to, future revenues and earnings. The words "estimate," "possible," "expects," "anticipates," "believes," "seeking," and similar expressions, identify forward-looking statements, which speak only as to the date the statement was made. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially and are subject to change at any time. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including those risks and uncertainties detailed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2001 filed with the SEC, as well as subsequent forms 8-K, 10-Q, 14-C and S-8 registrations.