Healthcare Industry News: vascular access
News Release - January 28, 2010
Pyng Medical Receives Health Canada License: FASTx(TM) Intraosseous Infusion System Now Available in CanadaVANCOUVER, BRITISH COLUMBIA, Jan 28 --(HSMN NewsFeed)-- Pyng Medical Corp. (TSX-V:PYT ) today announced the Company has received Health Canada regulatory clearance to market its new and improved FASTx Sternal Intraosseous Device, effective immediately.
The FASTx Sternal Intraosseous Device is indicated for use in establishing a sternal intraosseous access route in adult and adolescent patients (12 years of age and older) that require vascular administration of drugs or fluids to facilitate emergency resuscitation. FASTx Sternal Intraosseous Device is a rapid, reliable and safe alternative to conventional IV infusion providing lifesaving vascular access for fluid and drug resuscitation in cardiac, shock and trauma victims. The Company's lead clinical product has been re-engineered with an integrated, easy, pull-to-remove infusion tube, light and compact form factor made for single-handed use.
"These improvements were implemented in direct response to feedback from Pyng's key customers based on real life applications on the battlefield, Hospital, and EMS environments," said Robert Di Silvio, President and CEO. "As part of our ongoing commitment to technology innovation we've achieved procedural efficiencies and further enhanced the ease-of-use for our market-leading FAST1 Intraosseous Infusion System. We have also submitted our application for European CE Mark and FDA 510K clearance for our next generation FASTx Sternal Intraosseous Device," adds Di Silvio.
About Pyng Medical Corp.
Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1 Intraosseous Infusion System. Pyng was selected in the "2007 TSX Venture 50" Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1 has worldwide application for use with hospitals, emergency medical services and military forces.
Safe Harbour Statement; Forward-Looking Statements: This release may contain forward-looking statements based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "indicates", and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents which may be filed with the British Columbia Securities Commission, the Alberta Securities Commission, the Ontario Securities Commission, the TSX Venture Exchange, as well as other USA Commissions, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw material, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales in some products.
Source: Pyng Medical
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