Achievement of Final Milestone in Co-operation Agreement with Carl Zeiss Meditec

ASX Announcement 4 May 2020

Highlights:

• Receipt of final milestone payment of €100,000.
• Cash receipts exceed $1.0m since 1 March 2020.

Carl Zeiss Meditec Milestone Payment

OptiScan Imaging Limited (ASX: OIL) (‘the Company’ or ‘OptiScan’) is pleased to advise that it has received payment of the final milestone pursuant to its Co-operation Agreement with Carl Zeiss Meditec (CZM). The meeting of this milestone reflects that the parties agree that the project has moved to the production phase of the agreement.

The Company is engaged in discussions with CZM regarding future orders as CZM continues its commercial rollout plans and for research and development services as part of planning future technology enhancements for the CONVIVO®. Cash Receipts OptiScan previously advised that it expected to receive $900,000 between 1 March and 30 April. Following receipt of this milestone payment, Optiscan has now received approximately $1.04m since 1 March. This does not include $149k expected to be received in early May from the financing of its 3rd quarter Research and Development Tax Credit.

About Optiscan Imaging Limited (ASX: OIL)

OptiScan (ASX:OIL) is an Australian listed company and a pioneer in the development and application of endomicroscopic imaging technologies for medical markets.   Our multi-patented confocal imaging technology can be used for both cancer screening and tumour margin detection in cancer surgery.  Our device enables real-time, in vivo imaging at the cellular level in clinical applications, providing a “digital” biopsy.  The benefits of this “digital” biopsy include monitoring of early stage disease, earlier identification of pre-cancer and the potential to reduce the time doctors, patients and operating theatres are required to wait for pathology results, the number of repeat surgeries and actual biopsies required.

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