BISN - ORT WASHINGTON, Pa.--(BW HealthWire)--Aug. 4, 1999--Biosonics,
Inc. (OTC BB:BISN), the Fort Washington-based electrotherapeutic
solutions company, announces Peter G. Tobia as its full-time financial
consultant to coordinate shareholder, investment and venture capital
assignments.
Tobia, who has over 25 years entrepreneurial experience as a
venture capital and financial planning executive, will assume many of
Biosonics' responsibilities formerly held by the late Jack Paller, who
was the company's President and CEO.
"Peter Tobia is an important addition to the Biosonics
administrative and product development team that will help direct the
expansion of the company," said Vice President Sandra Pileggi. "His
experience and knowledge in public company finances and stockholder
relations will be an invaluable resource for Biosonics."
Tobia was a principal and co-founder of eight public companies.
He also served as President of a medical electronic subsidiary of a
public company. He is a graduate of Rutgers University and a licensed
professional engineer.
"Our initial focus will be to aggressively market, including the
use of the Internet, existing FDA approved devices that Biosonics has
developed," said Tobia. "We are actively seeking joint venture and
marketing relationships with existing medical organizations."
Biosonics is currently marketing two patented FDA-approved
electrotherapeutic medical devices: the Salitron(R), a device used in
the treatment of dry mouth (1+ million sufferers), and the
Cystotron(TM), a device used in the treatment of incontinence (13
million people).
Biosonics has also developed several patented medical products
that incorporate the same technology as the approved products. These
products cover a variety of medical conditions, such as male impotence
(20 million sufferers), nasal/sinus congestion (50+ million
sufferers), as well as diagnostic tools for physicians.
All statements contained in the press release are not historical
facts, including but not limited to the Company's plans for product
development and marketing, are based on current sales expectations.
These statements are forward looking (as defined in the US Private
Securities Litigation Reform Act of 1995 and the Act) in nature and
involve a number of risks and uncertainties.
The factors that could cause actual results to vary materially
include the availability of capital to finance operations on terms
satisfactory to the company and the availability of clearances or
approvals of product by federal, state and foreign government
authorities.
All trademarks and registered trademarks are the property of the
companies, which with they are associated.
--30--SF/ph*
CONTACT: Biosonics, Inc.
Kathleen Robey, Investor Relations
888/246-7664
or
Rubin Public Relations, (media only)
Larry Rubin, 610/668-6801
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