Latest News Release
ew Field Trial Sites for F.A.S.T. 1; Production Manager Hired; F.A.S.T.
1 at International Conference
Pyng Technologies Corp PYT
Shares issued 7,677,856 Mar 27 close $4.85
Fri 27 Mar 98 Company Sponsored
Website: pyng.com
NEW FIELD TRIAL SITES TO BE ADDED
March 23, 1998
Pyng Technologies Corp. is pleased to announce that Pyng Medical Corp., as
a direct result of the Corporations presents at the National Emergency
Medical Conference in Baltimore, has received 22 direct request to be
considered for either a field trial location or to be an early adopter on
the F.A.S.T 1 System for Adult Intraosseous Infusion. These requests were
received from Hospitals as well as EMS Services.
These sites, which represent wide coverage in the United States, will
expand pre - market penetration for the F.A.S.T 1 System through field
trials. Pyng Medical Corp. has selected field trials as method of
introducing the F.A.S.T 1 System to the pre-hospital and emergency hospital
market.
Pyng Medical Corp. will evaluate each of these sites and, upon approval,
will deliver the required training, materials, and product to the selected
sites for expanded field trial use of the F.A.S.T 1 System for Adult
Intraosseous Infusion. Medical data received from these and other sites
will be used for direct marketing purposes for the F.A.S.T 1 System.
A great deal of interest in the System has been generated by Pyng Medical
Corp. exposure at major medical conferences and that will continue this
week when The F.A.S.T 1 System will be represented at the International
Emergency Medical Conference to be held in Vancouver, March 26 - 29th.
The announcement by FDA that the F.A.S.T 1 System was selected in its 1997
Annual Report as a "significant medical breakthrough" has also generated
considerable interest from both the Medical and Investment community.
PYNG HIRES PROFESSIONAL PRODUCTION MANAGER
March 25, 1998
Mr Michael Jacobs, president of Pyng Technologies Corp (the company), is
very pleased to announce that Pyng Medical Corp has hired a production
manager.
Malcolm Chaddock brings to the company 25 years of experience in medical,
aerospace and high technology industries. He has broad experience in the
development and implementation of manufacturing processes and systems. His
career started with a successful 15-year stint at Lockheed in which he
progressed through increasingly responsible and challenging supervisory
positions. His medical industry experience (including manufacturing
engineering manager at Lifescan, operations manager at Lightwave, and
director of manufacturing at Xillix Technologies) gave him valuable
experience in quality systems, regulatory requirements, vendor and
contractor sourcing and managing, and personnel management. Mr Chaddock
also managed manufacturing engineering at Dynapro.
Malcolm Chaddock's leadership skills, his proven attention to quality and
costs, and his broad practical experience in developing and implementing
manufacturing options makes him an ideal candidate for the role he has
assumed at Pyng Medical.
Mr Chaddock's duties will include planning and executing manufacturing
operations in cooperation with other Pyng Medical personnel, including:
* Producing F.A.S.T. 1 systems needed for ongoing field trials, training
new users, and early adopters.
* Working with the company executive to develop and recommend short,
medium, and long term production plans to minimize cost per unit and
maximize returns.
* Implementing medium and long term production.
Mr Chaddock has been charged with the goal of meeting our tight time frame
and producing a low-cost, high-quality product. He will drive down cost per
unit and maximize profits as he directs the transition from small-volume
assembly to full-scale production. With his successful track record, the
board of directors is confident that profitable production in 1998 is
assured. I am delighted to welcome him on board.
F.A.S.T.1 TOPS FDA'S "SIGNIFICANT MEDICAL BREAKTHROUGHS 1997" LIST
March 16, 1998
Michael W. Jacobs, President of Pyng Technologies Corp. (the "Company") is
pleased to announce that the F.A.S.T. 1 Adult Intraosseous Infusion System
has received formal recognition from the FDA's Office of Device Evaluation
("ODE") in their annual report for the fiscal year 1997 as a significant
medical breakthrough.
Thirty-five devices have been recognized by the ODE in several categories
out of 20,000 submissions received and reviewed. The ODE recognizes these
devices, including the F.A.S.T. 1 as "significant medical breakthroughs
because they are first-of-a-kind, e.g. they use a new technology or energy
source, or they provide a major diagnostic or therapeutic advancement, such
as reducing hospital stays, replacing the need for surgical intervention,
and reducing the time needed for diagnostic determination." The FAST 1 is
the world's first adult intraosseous infusion system approved by the US
FDA.
Pyng Medical Corporation has just been advised by the FDA Office of Device
Evaluation that their Annual Report is available on the Internet at the FDA
website. (www.fda.gov/cdrh).
FIRST USE OF F.A.S.T. 1 INTRAOSSEOUS INFUSION SYSTEM IN A CONSCIOUS HUMAN
SUBJECT
March 13, 1998
Pyng Technologies Corp. is pleased to announce that the F.A.S.T. 1
Intraosseous Infusion System produced by its subsidiary, Pyng Medical
Corp., has been successfully used on a conscious, live human subject.
The F.A.S.T. 1 was designed to achieve fast, reliable vascular access under
emergency conditions in the pre-hospital environment.
Pyng Medical recently completed training of emergency physicians at
University of Maryland Medical Centre. Following the training, Dr. Tom
Stair, Research Director, The University or Maryland School of Medicine,
decided he wanted to know what the F.A.S.T. 1 would feel like, and
volunteered to have it used on him.
Dr. Stair and a colleague developed a fast (60 secconds) procedure for
anaesthetising the skin over the sternal insertion site. This procedure is
suitable for use by some paramedics. Using this freezing procedure, the
F.A.S.T. 1 system was used on Dr. Stair. Fluids were rapidly infused into
him. He experienced no pain. In fact, Dr. Stair reported that the procedure
caused less pain than giving blood.
Daily follow-ups for the three days following the procedure showed no
medical complications.
Thanks to the leadership of Dr. Stair and colleagues, Pyng Medical has
demonstrated that within 2.5 minutes or less, a paramedic can reliably and
simply achieve vascular access in a conscious patient. This discovery means
market penetration will likely be greater and faster than is predicted in
our financial projections.
More news releases will follow as other ambulance services, paramedics, and
emergency hospitals adopt and begin to use the F.A.S.T. 1 system. |
