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Novadaq Updates on Optix Data Reported at Euroretina

Visual Acuity Reported to Remain Stable or Improve in 83% of Patients Studied at 12 Months

TORONTO, May 29, 2008 /PRNewswire-FirstCall/ - Novadaq(R) Technologies Inc. , a developer of real-time medical imaging and image guidance systems for the operating room, today announced that ophthalmologists from Sacco Hospital in Milan, Italy reported independent 12-month follow-up data on patients treated with the OPTTX(R) System in commercial practice at the recent Euroretina Conference held in Vienna Austria. The 12 month visual acuity (VA) data for those wet-AMD patients followed, some of whom had failed other treatments, continued to support the previously reported six-month data presented at the Association for Research in Vision and Ophthalmology Conference in April 2008 in Fort Lauderdale, FL.

At 12 months, 23 patients were evaluable and the VA for a substantial majority (19, or 83%) of patients studied remained stable or improved. Fourteen of the 23 (61%) had no change or showed a 1-6 line improvement in VA. Five patients lost up to 3 lines and 4 patients lost more than 3 lines in VA. The treating ophthalmologists concluded that the OPTTX technique was safe and reproducible. This study suggests that treatment with OPTTX can be used as an alternative to the anti-VEGF drugs and that it appears that it can be safely applied before, after or in combination with anti-VEGF injections.

"We have been using the OPTTX System in our practice for the past eighteen months. OPTTX has allowed us to stabilize or improve vision in patients, many who had failed previous therapies, and really had no other treatment alternatives," said Giovanni Staurenghi, Professor of Ophthalmology, Chairman Eye Clinic, Director II School of Ophthalmology, Department of Clinical Science Luigi Sacco, Sacco Hospital, University of Milan. "Most importantly, the twelve-month follow-up data demonstrates that the treatment with OPTTX is sustainable."

"I have spent the last five years working with OPTTX and its predecessors for the treatment of wet AMD and have consulted with other ophthalmologists throughout Europe who were learning to use it," noted Dr. Chiara Veronese, Consultant Ophthalmologist. "The past year has been particularly rewarding in that we have followed patients treated with OPTTX in both Milan and in Coventry and have seen benefits from its use."

The OPTTX-2N1 System, using the same core technology as the commercially available SPY(R) System, is a single device that performs multiple functions. The OPTTX System is designed to enable ophthalmologists and those trained in retinal subspecialties to diagnose, treat and provide on-going management of patients suffering from wet AMD. As the only imaging device with the ability to visualize the disease state of wet AMD during treatment, OPTTX allows the ophthalmologist to accurately diagnose and treat by targeting and closing the abnormal feeder vessels in real-time, within a single patient visit. OPTTX also allows for immediate confirmation of the effectiveness of the treatment.

About Novadaq Technologies

Novadaq Technologies Inc. commercializes real-time imaging and image guidance systems for use in the operating room. With one set of proprietary core technologies, Novadaq's products have multiple applications. Novadaq's SPY System enables cardiac surgeons to diagnose intra-operatively by visually assessing coronary vasculature and bypass graft functionality during the course of heart bypass surgery. The SPY System is also indicated for use during other surgeries, such as cardiovascular, plastic, reconstructive, organ transplant and urological procedures. SPY can be used to visualize blood vessels, tumors, tumor margins and the lymphatic system. Novadaq introduced PINPOINT(TM), its first minimally invasive imaging system for autofluorescence in October 2007. PINPOINT allows surgeons to differentiate between healthy and cancerous tissue in the lung and other hollow organs. Further expanding its portfolio of minimally invasive products, Novadaq is developing SPYscope which combines the typical features of a standard endoscope with the additional capabilities of SPY imaging. Novadaq is the exclusive United States distributor of PLC Medical's CO(2) HEART LASER System, used in the same cardiac procedures as the SPY System. Novadaq also offers the OPTTX(R) System, which leverages the company's core imaging technology and is designed for the diagnosis, evaluation and treatment of wet Age-related Macular Degeneration (AMD). For more information, please visit the company's website at www.novadaq.com.

Forward looking Statements

Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Novadaq's current beliefs as well as assumptions made by and information currently available to Novadaq and relate to, among other things, results of future clinical tests of PINPOINT and the SPY System, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Novadaq in its public securities filings actual events may differ materially from current expectations. Novadaq disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: visit our website at www.novadaq.com, or contact: Arun Menawat,PhD, MBA, President & CEO, Novadaq Technologies Inc., (905) 629-3822 x 202,; Michael Moore, Investor Relations, The Equicom Group,(416) 815-0700 x 241, amenawat@novadaq.com mmoore@equicomgroup.com

Ticker Symbol: (Toronto:NDQ.)

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Posted: May 2008

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