First Quarter Summary Trading Statement

Medicsight PLC (AIM: MDST), industry leader in the development of Computer-Aided Detection (CAD) and image analysis software to assist in the early detection and diagnosis of disease, is pleased to announce its Interim Results for the first quarter ended 31 March 2008.

Highlights

  • Preliminary agreement with Toshiba Medical Systems Corporation to initiate global partnership
  • American Cancer Society (ACS) endorsed Computerised Tomography Colonography ("CTC") and added CTC to its colon cancer screening guidelines

Highlights post period end

  • Chinese SFDA approval
  • Global partnership with INFINITT, one of the world's leading medical imaging and picture archiving and communication systems (PACS) companies

David Sumner, Chief Executive of Medicsight PLC, commented: "I am delighted with the progress that the Company has made during the first quarter of 2008. We continue to bolster our contract pipeline adding Toshiba PACS division to our list of distribution partners. This is a significant milestone for Medicsight, it is the start of a global partnership with Toshiba and will allow solid penetration into the Japanese market for our MedicRead Colon workstation. This year we received the Chinese SFDA approval and are on track to gain approvals in Japan and the US.

"I am also pleased to say that our product delivery roadmap continues on track and I look forward both to the launch of upgrades to existing Medicsight software solutions and to demonstrating new clinical applications at the 2008 RSNA in November."

Summary Financial Data
For the three months to 31 March 2008

  • net revenue to external customers was £17,000 (31 March 2007: nil)
  • operating loss before interest and tax of £2,030,000 (31 March 2007: £1,467,000)
  • The group total assets position at 31 March 2008 was £24,641,000 (31 March 2007: £5,898,000).

For further information:

Medicsight plc
David Sumner +44 (0)20 7605 7950
www.medicsight.com

Collins Stewart Europe Limited
Tim Mickley +44 (0)20 7523 8350

Media enquiries:

AbchurchTel: +44 (0) 20 7398 7700
Heather Salmond / Stephanie Cuthbert Tel: +44 (0) 20 7398 7718
stephanie.cuthbert@abchurch-group.com
www.abchurch-group.com

Notes to editors
Medicsight PLC is a UK-headquartered, research driven, leading developer of computer-aided detection (CAD) and image analysis software for the medical imaging market. The CAD software automatically highlights suspicious areas on computerised tomography (CT) scans of the colon and lung, helping radiologists to identify, measure and analyse potential disease and early indicators of disease. Medicsight's CAD software has been validated using one of the world's largest and most population diverse databases of verified patient CT scan data. Medicsight's ColonCAD™ and LungCAD™ software products are seamlessly integrated with the advanced 3D visualisation workstations of several industry-leading imaging equipment partners.

About Computer-Aided Detection
With increasingly sophisticated radiological imaging hardware such as Multi-Detector CT scanners, radiologists are facing a growing challenge in the amount of detailed patient image data that they must review for each patient examination. Some CT scan examinations generate as many as 2,500 images per patient. Review of this data by the radiologist is not only time-consuming but also prone to error due to reader fatigue. CAD software can help the reviewing radiologist by analysing the image data and automatically highlighting suspicious regions of interest for closer inspection. Without CAD software some potential abnormalities or areas of disease may be overlooked. This is critical for diagnosis and the management of patient outcomes as early detection of disease greatly increases the probability of successful treatment and a positive therapeutic outcome.

About Medicsight's CAD software
Medicsight's ColonCAD™ and LungCAD™ software use an advanced CAD algorithm to analyse CT scans of the colon and lung and automatically highlight suspicious areas that may be indicators of disease. CAD may highlight areas easily overlooked by the reviewing radiologist, such as small lesions or regions that are hidden from view behind folds in the colon or normal structures and surrounding tissue in the lung.

Both CAD products seamlessly integrate with the advanced 3D visualisation platforms of industry-leading imaging equipment partners. The integrated systems provide sophisticated image viewing capabilities, including 3D reconstructed image data, with the added advantage of demonstrating automatic CAD findings to assist clinical end users in the detection and analysis of disease. This allows clinical end users to perform either a 'second read', where CAD findings are displayed to the user after completion of an initial review of the CT scan data, or a 'concurrent read' where CAD findings are displayed during the user's initial review of the original CT scan images.

Since inception, Medicsight has developed close and lasting relationships with some of the world's foremost clinicians in product related areas. This provides the Company with a wealth of clinical expertise and dedicated clinical research to support ongoing product development. Medicsight also collaborates with a number of leading academic institutions and clinical research programmes worldwide to develop the Company's comprehensive database of population diverse verified patient CT scan data, thus allowing Medicsight's products to be validated to the highest possible standards.