Resonant Medical Secures Second Largest Medical Device Investment Since January 2003

Montreal, Canada – October 5, 2004  Resonant Medical Inc., a Montreal firm pioneering in 3D ultrasound image-guided adaptive radiotherapy products, has secured major financing in its latest round led by the Canadian Medical Discoveries Fund – advised by MDS Capital, with BDC Venture Capital, Desjardins Venture Capital and MSBi Capital as strong co-investors.

“We are very committed to our investment in Resonant Medical and its technology platform; it marries the accelerated pathway to commercialization, so characteristic of medical devices, with the vigorous growth rate of the cancer market,” affirms Dr. Jean-Christophe Renondin, Managing Director, MDS Capital.

In the medical device sector, this represents the second largest venture investment in Canada since January 2003, and is among the top five in North America.* This significant capital injection will allow Resonant to further its clinical research programs, extend its R&D roadmap and launch its RESTITU™ product line this fall, following regulatory approval. (* Source: Thomson Macdonald, Toronto)

“Gaining the support and commitment of such experienced and well-networked investment partners makes an enormous difference, in terms of development and success, for an innovative medical device company such as Resonant,” says COO and CFO Luc Sirois, MBA.

For Resonant CEO Frédéric Francis: “This is a key milestone for the company. It ensures that Resonant’s cutting-edge 3D ultrasound imaging technology will be commercialized and made available to the cancer therapy community. It will enable Resonant to usher in a new era of imageguided adaptive cancer radiotherapy. This is our opportunity to help enhance radiation therapy efficacy, reduce treatment side effects and improve the quality of life of cancer patients”.

Resonant Medical’s products allow radio-oncologists to visualize, analyze and adapt to changes in tumor position, shape and volume during the course of treatment. It therefore gives physicians and medical physicists the ability to more accurately target tumors while sparing healthy tissue.

The first offering based on the RESTITU™ platform is RESTITU RESTORE™, a tumor positioning verification and patient alignment system. The company’s commitment to clinically relevant research and product development, demonstrated in RESTITU™ RESTORE PROSTATE™, is also driving its upcoming applications, which include RESTITU RESTORE™ modules for Head & Neck and Breast cancers.

About Resonant Medical
Resonant Medical (Montreal, Canada) develops, manufactures and commercializes 3D ultrasound image-guided adaptive radiotherapy products. Originally developed at McGill University Health Center, Resonant's technologies are available in more than 50 cancer centers in the U.S., Canada and Europe, helping cancer centers make significant improvements in radiation therapy planning, verification and delivery--advancing patient care.

For more information, please contact:

Michèle Jémus
Chief Financial Officer
Resonant Medical
M.: 514.518-0449
T.: 514-985-2442 x 270
F.: 514.985-9662
mjemus@resonantmedical.com