Healthcare Industry News: CytoCore
News Release - March 26, 2008
CytoCore Announces Additional International Distribution AgreementCytoCore Signs Agreement for Distribution in Switzerland
CHICAGO--(HSMN NewsFeed)--CytoCore, Inc. (OTCBB:CYOE ), a leading developer of cost-effective cancer screening systems to assist in the early detection of cervical, endometrial, and other cancers, announced today that it has entered into a four year agreement with HT Hospital Technologies GmbH, a subsidiary of M.O.S.S. S.r.l. for distribution of the SoftPAP® Cervical Cell Collector into Switzerland. M.O.S.S. specializes in the distribution and maintenance of medical and surgical devices. HT Hospital Technologies’ agreement calls for minimum sales of 150,000 units the first year, 200,000 units the second, and 250,000 units the third year.
CytoCore CEO Robert McCullough Jr. stated, “We are very pleased to expand our distribution into another European market. Franco Pappa, President of MOSS continues to demonstrate his support and enthusiasm for the SoftPAP® Collector by expanding his distribution territory from Italy to include Switzerland as well. Mr. Paolo Burg is leading HT Hospital Technologies and is going to be responsible for the SoftPAP® distribution in Switzerland. We expect to receive an initial order to ship first SoftPAP® products to Switzerland by mid-April.”
M.O.S.S. S.r.l. was founded in 2000 as part of a larger group of medical distribution companies under the direction of Franco Papa. M.O.S.S. is a part of TIMANT, a European wide Service Network for medical equipment. For more information on M.O.S.S. S.r.l., visit their web site: www.MOSS-info.it.
The SoftPAP® Cervical Cell Collector offers a quicker, more comprehensive way of collecting a specimen for Pap testing while minimizing the patient discomfort traditionally associated with the collection of this type of sample. SoftPAP® uses a patented single-use medical grade silicone rubber balloon to collect the sample. When the tip of this balloon is inserted into the endocervical canal and the balloon is inflated, it expands to contact the entire region from which a sample is to be obtained. Collecting the entire sample in a single step without the need to rotate or reposition the collector provides the physician with ease of use while reducing the possibility of sample collection errors. Unlike the rigid, hard edged cervical cell collection devices of the past, SoftPAP®’s soft, compliant balloon and controlled inflation promotes patient comfort by eliminating the need to scrape or abrade the cervix in order to obtain an adequate sample. The goal is to have a more comfortable procedure for the patient and ease of use for the physician. Additionally, the SoftPAP® was designed to collect cells with a “one touch” process, to reduce inadequate specimen collection. The theory is that the better specimen, the better chance of early detection of cervical dysplasia and related HPV.
About CytoCore Inc.
CytoCore develops cost-effective cancer screening systems, which can be utilized in a laboratory or at the point-of-care, to assist in the early detection of cervical, endometrial, and other cancers. The CytoCore Solutions™ System is being developed to provide medical practitioners with highly accurate, low-cost, cervical and uterine cancer screening systems that can be seamlessly integrated into existing medical models. More information is available at: www.CytoCoreInc.com.
Certain statements in this release are forward-looking. These statements are based on CytoCore's current expectations and involve many risks and uncertainties, such as the company's inability to obtain sufficient financing, the possibility that clinical trials will not substantiate CytoCore's expectations with respect to the CytoCore Solutions™ System, and other factors set forth in reports and documents filed by CytoCore with the Securities and Exchange Commission. Actual results may differ materially from CytoCore's current expectation depending upon a number of factors affecting the Company's business. These factors include, among others, risks and uncertainties detailed in the Company's periodic public filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2006. Except as expressly required by law, CytoCore undertakes no obligation to publicly update or revise any forward-looking statements contained herein.
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