Medifocus, Inc. Announces Joint Venture With Ideal Concept Group, Ltd in Hong Kong to Expedite the Company's Product Entry Into the Greater China and the Asia Pacific Marketplaces

TORONTO, ON--(Marketwired - Nov 12, 2013) -  Medifocus, Inc. (OTCQX: MDFZF) (TSX VENTURE: MFS) (Medifocus or the Company), a leader in the development and commercialization of focused microwave energy to treat cancer and other diseases, is pleased to announce that it has entered into a joint venture agreement with Ideal Concept Group, Ltd. (ICG), a Hong Kong-based company with extensive expertise in business development in Greater China and other Asia Pacific countries. Under the terms of the joint venture agreement, ICG and Medifocus will own 60% and 40% of the Joint Venture (JV), respectively.

The initial focus of the JV is to assist Medifocus in obtaining commercial approval for the Company's Prolieve® Thermodilatation System from the China Food and Drug Administration (CFDA) to allow the marketing and sales of Prolieve® as a treatment for benign prostatic hyperplasia (BPH) in China. Following the CFDA approval, the JV intends to seek distributors to market and sell Prolieve® in Greater China and other countries in Asia. In parallel, the JV will identify and select GMP compliant manufacturers for the Prolieve® system and treatment disposables to reduce costs and broaden supply channels. 

The Company's APA 1000 Breast Cancer Treatment System has already received allowance from the U.S. FDA and Health Canada to conduct a pivotal Phase III clinical trial as a final step towards pre-marketing approval (PMA) for commercialization. ICG will assist Medifocus in recruiting additional clinical sites in China to expedite the completion of the study and also initiate the process to seek simultaneous CFDA approval for the APA 1000 for treatment of breast cancer.

In addition, the JV expects to identify and collaborate with leading institutions in China to develop next generation focused heat systems using the Company's catheter-based Endo-thermotherapy Platform for the treatment of cervical, prostate and esophageal cancers, and to develop external focused heating systems using its Adaptive Phased Array (APA) Microwave Focusing Technology Platform for the treatment of surface, sub-surface and deep seated localized and regional cancers. The Endo-thermotherapy Platform utilizes catheter-based microwave applicators to deliver thermotherapy directly to deep seated tumors via natural body orifices. The APA platform utilizes external phased array antenna systems to focus microwave energy at the tumor center to induce tumor shrinkage or eradication without undue harm to surrounding healthy tissues. These next generation treatment systems are expected to significantly expand the market opportunity for Medifocus initially in Asia and eventually worldwide.