Exhibit 99.1
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
PreMD Announces Valuable Data on PREVU(x) LT Life Insurance Product
-Cost-Effective Indicator of Cardiovascular Disease Risk
TORONTO, Oct. 24 /CNW/ - Predictive medicine company PreMD Inc.
(TSX: PMD; Amex: PME) today announced that clinical data and preliminary
actuarial analysis on its PREVU(x) LT test shows the product as a cost-effective
and valuable cardiovascular risk assessment tool for the life insurance
industry. PREVU(x)LT is the second product in the PREVU(x) line of skin
cholesterol tests and has been developed for use within the life insurance
industry.
"Based on the initial analysis, PREVU(x) LT appears to provide significant
value as a non-invasive marker for evaluating cardiovascular disease risk for
life insurance applicants," said Brent Norton, president and chief executive
officer of PreMD. "We expect that the relevance of this information on PREVU(x)
LT will demonstrate the market potential for this test in the life insurance
industry. We are also excited about the commercialization prospects for this
product and are discussing the PREVU(x) LT test with insurance providers this
week at the AHOU conference in Toronto."
Recent data shows that PREVU(x) LT could help determine which individuals
could be classified as Preferred Risk for cardiovascular disease. This data is
based on information from the PREPARE (PREVU(x) Predicts Atherosclerosis Risk
and Events) study, conducted in the insurance industry with the participation
of selected U.S. life insurers. It has also been shown that in females with
low PREVU(x) LT results, significantly fewer had total cholesterol (TC):high
density lipoprotein (HDL) ratio of greater than 5. Analysis of this data shows
that life insurance companies could yield substantial savings when issuing
policies to these applicants. Final analysis is expected in the upcoming
weeks.
About PreMD Inc.
PreMD Inc. is a leader in predictive medicine, dedicated to developing
rapid, non-invasive tests for the early detection of life-threatening
diseases. PreMD's cardiovascular products are branded as PREVU(x) Skin
Cholesterol Test, to be marketed and distributed in the United States (with
the exception of the life insurance laboratory field) by AstraZeneca. The
company's cancer tests include ColorectAlert(TM), LungAlert(TM) and a breast
cancer test. PreMD's head office is located in Toronto, Ontario and its
research and product development facility is at McMaster University in
Hamilton, Ontario. For more information about PREVU(x), please visit
www.prevu.com.
This press release contains forward-looking statements. These statements
involve known and unknown risks and uncertainties, which could cause the
Company's actual results to differ materially from those in the
forward-looking statements. Such risks and uncertainties include, among
others, the success of a plan for regaining compliance with certain continued
listing standards of the American Stock Exchange, successful development or
marketing of the Company's products, the competitiveness of the Company's
products if successfully commercialized, the lack of operating profit and
availability of funds and resources to pursue R&D projects, the successful and
timely completion of clinical studies, product liability, reliance on
third-party manufacturers, the ability of the Company to take advantage of
business opportunities, uncertainties related to the regulatory process, and
general changes in economic conditions.
In addition, while the Company routinely obtains patents for its products
and technology, the protection offered by the Company's patents and patent
applications may be challenged, invalidated or circumvented by our competitors
and there can be no guarantee of our ability to obtain or maintain patent
protection for our products or product candidates.
Investors should consult the Company's quarterly and annual filings with
the Canadian and U.S. securities commissions for additional information on
risks and uncertainties relating to the forward-looking statements. Investors
are cautioned not to rely on these forward-looking statements. PreMD is
providing this information as of the date of this press release and does not
undertake any obligation to update any forward-looking statements contained in
this press release as a result of new information, future events or otherwise.
(x)Trademark
%SEDAR: 00007927E %CIK: 0001179083
/For further information: Michelle Rabba, Manager, Corporate
Communications, Tel: (416) 222-3449 ext. 25, Email: mrabba(at)premdinc.com/
(PMD. PME)
CO: PreMD Inc.
CNW 09:20e 24-OCT-07
