NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: PYNG TECHNOLOGIES CORP.
VSE SYMBOL: PYT
OTC Bulletin Board SYMBOL: PYNGF
APRIL 9, 1999
Pyng Technologies Corp. Announces F.A.S.T.1 A Success as
Field Trials are Complete
VANCOUVER, BRITISH COLUMBIA--Pyng Technologies Corp. is pleased to
announce that subsidiary; Pyng Medical Corp. has successfully
completed field trials on the F.A.S.T 1 System for Adult
Intraosseous Infusion. The F.A.S.T.1, which was researched,
designed, and developed by Pyng Medical Corp., provides emergency
caregivers the ability to establish central vascular access within
60 seconds inclusive of initial delivery of drugs and fluids
thereby saving lives and saving time in an emergency environment.
Pyng Medical Corp. selected to do field trials at multiple sites
in America and Canada so that paramedics and emergency doctors
could evaluate the F.A.S.T 1 System in a real emergency
environment. The trials established the life saving/time saving
benefits of the F.A.S.T 1 System as well as provide valuable input
for both product and performance improvements, most of which was
incorporated into the product during this process. This process
required local, county, provincial and state approvals prior to
the commencement of actual use. This is because the F.A.S.T 1
System is not only the worlds first FDA approved system for
intraosseous infusion in the sternal site, but it is also a new
medical procedure, developed by Pyng Medical Corp.
All performance criteria that Pyng Medical Corp. set out to
demonstrate from field trials have been met with approximately 150
uses to date in the civilian and military field trial locations.
Field trial sites also have on hand a similiar amount of units
that will also provide continued clinical evidence to Pyng Medical
Corp. for use in medical publications, media coverage, and
marketing. These trials have proved unequivocally that the F.A.S.T
1 System for Adult Intraosseous Infusion does, in fact, save lives
and save time in the most critical time in emergency medicine. The
response from these trial sites and the enthusiasm generated from
all emergency caregivers in the field who have had the opportunity
to use the System first hand has been very gratifying to all Pyng
Medical staff.
The conclusion of field trials now allows Pyng Medical Corp. the
ability to free up staff, who were otherwise devoting time to
field trials, to be fully involved in fast tracking the System
into mass production. Management has provided an incentive
program to all staff members to deliver the most cost effective,
high quality, technically superior, F.A.S.T 1 product that will
meet and exceed the excellent results achieved in field trial use
to date. Mass production analysis, individual component review for
mass production, and design changes to maximize cost savings while
ensuring quality are all presently being reviewed. Subcontractors,
suppliers, tool and die makers, injection molders, who meet the
required medical device criteria are being identified and will be
contacted, with the goal of fast tracking the System into mass
production. Pyng Medical Corp. will now devote all current
financial and human resources to bring to the market a
mass-produced, high quality, cost effective F.A.S.T 1 System for
delivery by the fourth quarter 1999.
In parallel with this mass production goal Pyng Medical Corp. will
be negotiating with and establishing regional distributors for the
System. Meetings have already been held with several distributors
who meet our requirements and who have expressed a strong desire
to have semi-exclusive distribution agreements, and who will place
stocking orders on the F.A.S.T. 1 System. The company intends to
handle all military contracts in-house. Pyng Medical Corp. will,
as it has in the past, also have very strong presence, in concert
with appointed distributors, at National and State emergency
medical conferences in order to book orders and further enhance
the awareness of the System. We also intend to appoint a media
consultant to provide wide coverage for both advertising and
editorial coverage on the F.A.S.T 1 System in appropriate medical,
business, and investment journals.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Pyng Technologies Corp.
Michael W. Jacobs
President
1-800-349-7964
Web site at www.pyng.com
The VSE has neither reviewed or approved of the contents of this
news release.
INDUSTRY: MTC
SUBJECT: NWS
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