Who are the other Sternal I.O. Players?
Intersting statement from PYNG buried in the following:
"Pyng Medical's F.A.S.T.1(TM) System, already recognized as the dominant player in Sternal Intraosseous Infusion for adults"
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Pyng Medical Corp and Cincinnati Children's Hospital Medical Center Sign Development Agreement
Ticker Symbol: PYT PYNGF
RICHMOND, BC -- (MARKET WIRE) -- 10/31/05
at.marketwire.com
Pyng Medical Corp (TSX-V: PYT) (OTC: PYNGF) and Cincinnati Children's Hospital Medical Center are pleased to announce that a letter of commitment has been entered into October 18, 2005, on a collaborative effort to study the feasibility of utilizing the F.A.S.T.1(TM) System in pre-adolescent and adolescent patients.
The F.A.S.T.(TM) System is an alternative to conventional IV infusion that allows EMTs and doctors to achieve faster, safer and more reliable vascular access for fluid resuscitation in shock and trauma victims. The system has not yet been tested or approved for use in children.
Pyng Medical has entered into this formal agreement with Cincinnati Children's, one of the leading pediatric medical centers in the United States, to cover a two phase collaborative study to initially assess adolescent manubrium physiology, through the vast data bank of the Cincinnati Children's radiology department, and to determine any design, engineering, and functional requirements that might be needed to the current F.A.S.T.1(TM) System to meet the target patient group through a clinical trial.
This exciting new product development potential, will leverage Pyng Medical's F.A.S.T.1(TM) System, already recognized as the dominant player in Sternal Intraosseous Infusion for adults, and incorporate any new design elements appropriate to the target patient group.
Cincinnati Children's will have Mary Patterson, M.D., as the principal investigator for this project and Nicole Rainvnger P.Eng., head of engineering from Pyng Medical Corp, will be the company's lead person.
Dr. Joseph D. Fondacaro, Director, Office of Intellectual Property and Venture Development at Cincinnati Children's, says, "We at Cincinnati Children's are pleased to be collaborating with Pyng Medical to help bring the demonstrated benefits of Pyng's F.A.S.T.1 IO system to our patients."
M. Michael W. Jacobs, CEO and Founder of Pyng Medical, stated, "We are delighted to embark on this study with Cincinnati Children's to broaden our market capabilities and bring the life saving/time saving capabilities of the F.A.S.T.1 System forward to help children in life threatening circumstances."
Michael W. Jacobs, CEO, Pyng Medical
About Cincinnati Children's
Cincinnati Children's Hospital Medical Center is a 423-bed institution devoted to bringing the world the joy of healthier kids. Cincinnati Children's is dedicated to transforming the way health care is delivered by providing care that is timely, efficient, effective, family-centered, equitable and safe. Cincinnati Children's ranks third nationally among all pediatric centers in research grants from the National Institutes of Health. It is a teaching affiliate of the University of Cincinnati College of Medicine. The Cincinnati Children's vision is to be the leader in improving child health. Additional information can be found at www.cincinnatichildrens.org.
For further information please visit Pyng Medical Corp.'s "NEW" web site at www.pyng.com.
And/or call 604-303-7964.
Michael W. Jacobs, CEO, Pyng Medical Corp.
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. |
