BTI's Magnes II cleared in Japan

September 27, 1995

Magnetic source imaging developer Biomagnetic Technologies ofSan Diego announced last month that its Japanese distributor,Sumitomo Metal Industries, has received clearance from the JapaneseMinistry of Health to market its Magnes II MSI system. The

Magnetic source imaging developer Biomagnetic Technologies ofSan Diego announced last month that its Japanese distributor,Sumitomo Metal Industries, has received clearance from the JapaneseMinistry of Health to market its Magnes II MSI system. The actionmeans that Magnes II can be marketed in other Asian countriesthat recognize the Japanese agency's approval.

On the downside, BTI last month posted lower financial numbersfor its third quarter (end-June). Revenues for the quarter were$1.8 million, down 27% compared to $2.5 million in the same periodin 1994. The firm's net loss was $2.2 million, which includeda non-recurring charge of $595,000, compared to a net loss of$1.4 million in the third quarter of 1994.

The company's backlog is at $11.3 million, however, which isthe highest level in BTI's history. It was aided by an order inAugust for a Magnes Whole Head system, a next-generation MSI scannerintroduced at last year's Radiological Society of North Americameeting (SCAN 3/15/95). That system will be shipped to the Institutefor Research in Neurosciences and Psychiatry in Rouffach, France.