N@N

Spectral Molecular Imaging Announces the Appointment of Dr. Sam Raz as Vice President for International Business Development

^{Published on 2010-10-05 11:06:33 - Market Wire}
 

BEVERLY HILLS, Calif.--([ BUSINESS WIRE ])--Spectral Molecular Imaging, a wholly-owned subsidiary of Cascade Technologies Corp. (OTCBB:[ CSDT ]), announced today that Dr. Sam Raz has been appointed VP for International Business Development at SMI.

"He completes our core management team and will facilitate fast progress towards our stated goals."

aSam is an old friend and an exceptionally experienced and capable individual, who can greatly contribute to our companya™s efforts,a said Dr. Daniel L. Farkas, chairman and CEO of SMI. aThe ambitious agenda that we have defined and are pursuing can only be made successful by bringing together the right talents, in a strategic way, and Dr. Raz is a pivotal new addition to our team in this regard. He will be managing our international connections, in research, clinical development and business alike, focusing geographically on Europe and Israel in his first year, since he is bringing to the task an unmatched set of existing relationships and expertise.a

Sam Raz earned his B.Sc. in Environmental Public Health and Bacteriology, at UCLA, in Los Angeles in 1967; his M.P.H. in Health Education and Medical Services Marketing and Planning, from the University of Michigan, in Ann Arbor in 1969; and his Ph.D. (with honors) in Medical Care Organization (Management and Evaluation), from the University of Texas Health Science Center in Houston in 1986. In Texas, he became the principal investigator of a national research project comparing management and outcome, determining the effectiveness of multi-hospital systems, comparing the voluntary vs. the for-profit multi-hospital corporations by looking at 2,000 hospitals.

During his academic years, he was the recipient of the American Hospital Association-Kellogg Foundation Award; the National Center for Health Services Research Award; the University of Pennsylvania National Health Care Management Center Award; the Los Angeles County Health and Hospital Department Distinction Award; the University of Michigan School of Public Health Crosby Award; and three UCLA scholarship awards.

In 2004, Sam became the President of Mind Fountain - Medical Technology Inc., a management R&D company for innovative medical devices and diagnostics; he is also the C.E.O. of three start-ups: the Dynamic Memory External Fixator developed at Hadassah Medical Center, Jerusalem; the Female Incontinence Device developed at the most prestigious RAD Biomed Life Science Incubator; and the Skin Melanoma Detection and Cosmetic Assessment System developed at The Hebrew University of Jerusalem. All three obviously originated in Israel and are now being introduced by Sam as joint ventures in the U.S., U.K. and Germany to cover Europe, the Middle East and North America. In addition, Sam formed Advanced Dental Technologies in the U.K. and Germany to commercialize five dental products focusing on high quality dental implants and restorative accessories.

Parallel to the above, Sam was the founder and C.E.O. of The Variety Center - an Israeli national center for the advancement and diagnosis of 8 different childrena™s disabilities where he has developed 12 types of innovative intervention programs for handicapped children. In an operation with 120 employees, during all his 17 years there he maintained a balanced budget. For the past 6 years, Sam has also been the C.E.O. of aShiluv,a a non-profit organization for the integration of Down Syndrome and normative preschool children, developing innovative enrichment integration modalities so they can survive in a regular school environment. In addition, he was recently appointed the Chairman of EMILI, another 600-children pre-school not-for-profit organization with 150 workers who need reorganization, improved management, and upgrading finances. His work with children is done mainly on a volunteer basis.

aSam is a wonderful human being, and will be a most welcome addition to SMI,a said Dr. Farkas. aHe completes our core management team and will facilitate fast progress towards our stated goals.a

About Spectral Molecular Imaging

Spectral Molecular Imaging, Inc., a wholly-owned subsidiary of Cascade Technologies Corp., is a development-stage medical imaging device company, applying its proprietary hyperspectral-optical imaging technology a" originally developed for satellite reconnaissance a" to advance the early and accurate diagnoses of cancer and precancerous conditions. SMI is developing non-invasive, high-resolution optical imaging systems using its patented technology and other proprietary know-how for improved clinical diagnostics, primarily in the field of cancer pathology, by identification and analysis of certain molecular, cellular, and tissue features via hyperspectral-imaging approaches. We expect to provide services related to our primary products, including software modules and maintenance services, and to develop optical diagnostic products that operate in conjunction with surgical and/or evaluation procedures in real time. We believe that our technology will enable early detection and more reliable diagnosis of various diseases, such as melanoma, Barretta™s esophagus (a condition caused by chronic acid reflux that can lead to esophageal cancer) and lung cancer. We expect that medical devices using or based on our developed technology can significantly improve long-term patient outcomes and may substantially reduce overall costs for the healthcare system. For more information, please visit [ http://www.spectralmi.com ].

Forward-Looking Statements

This news announcement contains or may contain certain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, without limitation, statements regarding SMI's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. Such forward-looking statements are subject to significant risks and uncertainties, including those detailed in filings made by Cascade Technologies Corp., SMI's parent, with the Securities and Exchange Commission. Accordingly we caution our readers that actual results may differ materially from our beliefs or expectations due to economic, business, competitive, market and regulatory factors. We assume no obligation or undertaking to update any forward-looking statements to reflect any changes in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. You should, however, review additional disclosures we make in the reports filed with the Securities and Exchange Commission.