BTI nets JMHW approval for Magnes system

June 11, 1997

Magnetic source imaging developer Biomagnetic Technologies received some good news with the announcement that Sumitomo Metal Industries, BTI's Japanese distributor, has received approval from the Japanese Ministry of Health and Welfare of BTI's Magnes

Magnetic source imaging developer Biomagnetic Technologies received some good news with the announcement that Sumitomo Metal Industries, BTI's Japanese distributor, has received approval from the Japanese Ministry of Health and Welfare of BTI's Magnes 2500 WH neuromagnetometer for clinical use in Japan. The approval should provide a boost to BTI, which has endured a rough start this year. In March, its stock was delisted from the NASDAQ stock exchange (SCAN 3/19/97). Earlier, the company posted a $2.1 million loss in the first quarter of 1997.