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NEWS RELEASE
CONTACT:
Fern Lazar Michael Jorgensen
President Chief Financial Officer
Lazar Partners Ltd. DOBI Medical International, Inc.
420 Lexington Avenue, Suite 442 201-760-6464
New York, NY 10170 Fax: 201-760-8860
212-867-1762 Phone www.dobimedical.com.
212-867-0856 Fax Trading Symbol: DBMI.OB
www.lazarpartners.com
DOBI MEDICAL INTERNATIONAL EXPANDS
BOARD OF DIRECTORS
MAHWAH, NJ, OCTOBER 12, 2004 - DOBI Medical International, Inc. (DBMI.OB) today
announced the appointment of Mr. Brian Vodicka to the company's Board of
Directors, effective immediately. DOBI Medical has developed the ComfortScan(TM)
system, a non-invasive, non-ionizing optical imaging tool designed to assist
physicians in the diagnosis of breast cancer. The ComfortScan system is
currently the subject of a clinical study, which will be the fifth and final
module of the company's PMA application to the FDA.
"Brian Vodicka is a welcome addition to the DOBI Medical Board of Directors,"
said Bob Machinist, Chairman of the Board of DOBI Medical. "He brings an
invaluable combination of financial acumen and corporate experience to the
company at an important time in our development."
Since 1997, Mr. Vodicka, a retired attorney and certified public accountant, has
been involved in the private investment sector. As a practicing attorney in
Austin, Texas, Mr. Vodicka specialized in corporate issues including litigation,
strategic planning, tax planning, and regulatory affairs. Additionally, he was a
member of the faculty of the University of Texas in the College of Business from
1989 through 1994. Mr. Vodicka received his B.A. in Accounting and a Doctorate
in Jurisprudence (JD), both from the University of Texas at Austin. He is also
an investor in the company.
Mr. Vodicka remarked, "I am looking forward to working with the rest of the DOBI
Medical Board to support the continued advancement of the Company's ComfortScan
technology towards commercialization. I strongly believe this new technology has
the potential to make a significant difference in the diagnosis and treatment of
breast cancer worldwide."
ABOUT DOBI MEDICAL INTERNATIONAL, INC.
DOBI Medical is a development stage medical imaging company working to create a
new means for the improved diagnosis of cancer through the detection of abnormal
vascularization ("angiogenesis") associated with tumors. DOBI Medical
International's first application of the technology is the ComfortScan system, a
gentle, non-invasive, and non-ionizing, optical imaging system designed to
assist physicians in the detection and management of breast cancer. The
ComfortScan system is intended to achieve this by providing new,
physiology-based imagery of abnormal vascularization in the breast that are not
readily available today. The ComfortScan system is an investigational device and
is not commercially available in the United States.
CAUTIONARY STATEMENT FOR FORWARD-LOOKING STATEMENTS
Statements contained in this press release may contain information that includes
or is based upon certain "forward-looking statements" relating to our business.
These forward-looking statements represent management's current judgment and
assumptions, and can be identified by the fact that they do not relate strictly
to historical or current facts. Forward-looking statements are frequently
accompanied by the use of such words as "anticipates," "plans," "believes,"
"expects," "projects," "intends," and similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties, and other factors,
including without limitation, those relating to our ability
to timely and successfully complete our patient clinical trials; our ability to
timely and successfully complete and submit our premarket approval application
to the FDA; the timely and final approval by the FDA of our ComfortScan system
as a adjunct to mammography, which approval in the U.S. cannot be assured; our
ability to secure the additional financing adequate to execute our business
plan; the success of product development and research efforts; our ability to
timely meet U.S. and foreign government laws and industry standards; our ability
to meet U.S. and foreign medical device quality regulation standards required to
maintain our CE Mark, ISO, UL and FDA export certifications; our ability to
timely deliver our products into international markets; the acceptance and use
of our ComfortScan system by physicians, imaging clinics, and patients; our
ability to meet the performance milestones and obtain the funding to close on
the second tranche of the private placement completed in December, 2003; and our
ability to obtain third party reimbursement from U.S. and foreign government and
private payers.
Any one of these or other risks, uncertainties, other factors, or any inaccurate
assumptions may cause actual results to be materially different from those
described herein or elsewhere by us. We caution readers not to place undue
reliance on any such forward-looking statements, which speak only as of the date
they were made. Certain of these risks, uncertainties, and other factors are
described in greater detail in our filings from time to time with the Securities
and Exchange Commission, which we strongly urge you to read and consider,
including our 2003 Annual Report on Form 10-KSB, our Second Quarter Report 2004
on Form 10-QSB, and our Registration Statement on Form SB-2 declared effective
September 27, 2004, all of which may be accessed from our website at
www.dobimedical.com. Subsequent written and oral forward-looking statements
attributable to us or to persons acting on our behalf are expressly qualified in
their entirety by the cautionary statements set forth above and elsewhere in our
reports filed with the Securities and Exchange Commission. We expressly disclaim
any intent or obligation to update any forward-looking statements.
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