MELA Sciences Inc (NASDAQ:MELA) MelaFind for skin cancer detection

825

Dallas, Texas 09/16/2013 (Financialstrend) – At current estimates, studies are projecting that 1 out of every 5 Americans will eventually develop skin-cancer over the course of their life. Cancer groups and dermatologists are speeding up their efforts to screen all patients at least once every year. They are also teaching patients to perform self-examinations once a month.

The doctors create “mole maps”. These are essentially photographs that track any changes that have taken place, over a period of time. Some dermatologists are also trying a new non-invasive device that helps them determine which moles should eventually be biopsied for melanoma. This is the deadliest type of skin cancer. The device called MelaFind has been developed by MELA Sciences Inc (NASDAQ:MELA) and the FDA has approved it in 2011.

The moles used to be typically viewed through a magnifying glass which is called a dermatascope. This examines the surface of the skin. MelaFind is different in that it works on computer light technology to examine any moles that go as deep as 2.5mm below the surface of the skin. The cost of the machine is approximately $10,000 and dermatologists also have to pay a fee per usage. The patients are charged $25-$40 per lesion or $150-$175/session, for multiple-lesions. This test is not covered by insurance.

The company

MELA Sciences Inc (NASDAQ:MELA) came into existence on 3 September 1997. It is a company that manufactures medical devices and focuses on the commercialization of MelaFind, its product, the newer designs of this product, and also in the development of its technology, related to MelaFind. This is a non-invasive point-of-care instrument that aids detection of melanoma.

The handheld component of this device emits light of numerous wavelengths to capture the data from clinically-atypical pigmented skin-lesions. The components of this system include this hand-held component that employs high-precision multi-illumination, high-precision optics.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.