Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a contract for CA$5.6 million with the Centre for Surgical Invention and Innovation (CSii) at McMaster University to develop an advanced technology solution for use in early detection and treatment of breast cancer.
MDA and CSii will collaborate on the development of an Image Guided Autonomous Robot (IGAR) platform of products, the first of which is designed to perform image-guided breast biopsies. IGAR will provide increased access, precision and dexterity resulting in more accurate and less invasive procedures.
‘MDA is excited to be working with CSii to further develop our offering in the medical field,’ said Steve Oldham, the vice president responsible for this business at MDA. ‘We are continuing our strategy of applying space technologies to emerging non-space markets with commercialization potential.’
According to Dr. Mehran Anvari, CEO & Chief Scientific Officer, CSii and Professor of Surgery at McMaster University, ‘Robots bring added capabilities that allow us to do things faster, better and more precise. IGAR is ground-breaking technology that will evolve to explore and treat other forms of cancers.’
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (“MDA”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract. Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include failure of third parties and subcontractors; failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and offerings or comply with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to MDA’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on MDA’s website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.