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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Jack Rayfield who wrote (3214)	1/28/1999 6:08:00 PM
From: tide	Respond to of 8117

A news release ------------------------------------------------------------------- NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: PYNG TECHNOLOGIES CORP. VSE SYMBOL: PYT OTC Bulletin Board SYMBOL: PYNGF JANUARY 28, 1999 Pyng Technologies Corp: Field Trial And Military Progress/Orders VANCOUVER, BRITISH COLUMBIA--Pyng Technologies Corp. through subsidiary Pyng Medical Corp. is pleased to provide an update on the ongoing field trials for the F.A.S.T. 1(TM) System for Adult Intraosseous Infusion developed by Pyng Medical Corp. The data has been compiled to the end of December 1998. In March of 1998 the first use of the F.A.S.T. 1(TM) System in a live patient was recorded at the University of Maryland Medical Center in Baltimore. Approximately one month later Pyng Medical Corp. established its second field trial site and we have expanded those sites over the last 9 months to a total of 12 active and 5 additional sites trained and waiting for state or county clearance. The 12 active sites include air ambulance, ambulance services, and emergency hospitals. Pyng Medical Corp. selected field trials to provide medical evidence of the effectiveness of the F.A.S.T. 1(TM) System in the emergency environment as well as to provide feedback on any improvements that practicing emergency medical caregivers, both civilian and military, wished to see with the product. Pyng Medical is convinced that the field trials have been invaluable for both the assessment of the product performance and for feedback for product improvement. The F.A.S.T. 1(TM) System, introduced only 10 months ago, is both a new medical product and emergency procedure, and is the only FDA approved I.O. device for emergency sternal access. The F.A.S.T. 1(TM) System has been used over 100 times since March of 1998 in both civilian and military settings. It is important to note at this point that conventional I.V. access, which is the standard in emergency medicine, takes between 3 to 7 minutes to accomplish and the success rate is 80 percent, which means that this procedure has a 20 percent failure rate. These facts have been well documented over the forty plus years that I.V. has been a standard of emergency care. Our goal from the beginning was to be able to provide central line vascular access within 90 seconds inclusive of delivery of drugs and fluids and achieve a 95 percent success rate in emergency situations when conventional methods fail. We are very pleased to report that the median average time to achieve vascular access has been 60 seconds, fully 30 seconds shorter than our goal, and our success rate with individuals who have had experience with the F.A.S.T. 1(TM) once is now at 95 percent. It is the intention of Pyng Medical Corp. to continue the field trials with those sites indicated above, and others, until we have achieved a minimum of 150 uses. In December of 1998 Pyng Medical employees traveled to the Special Operations Command in Tampa, as well as the National Association of Emergency Medical Surgeons and Physicians in Marco Island, Florida. Dr. David Johnson and Judy Findlay report a very positive response at the NAEMSP Conference and contacts were made with a large number of ambulance services in the US including AMR and Laidlaw. Follow up to this event is being carried out as we speak. The Special Operations Command meeting, which was attended by Michael Jacobs and Terence Turner, also provided some very positive results for Pyng Medical Corp. The Corp. has been requested to arrange with the Office of the Command Surgeon and the US Army John F. Kennedy Special Warfare Center and School (Joint Special Operations Medical Training Center) to instruct Special Operations Trainers on the use of the F.A.S.T. 1(TM) System for Adult Intraosseous Infusion. The John F. Kennedy School trains all of the Special Operations Medical Command in the Army, Airforce, Marines, and Navy. Arrangements between Pyng Medical Corp. and Special Operations have been made for these training sessions at J F K. We are especially pleased to announce that having completed an evaluation of the F.A.S.T. 1(TM) System at Walter Reed Army Research Institute Pyng Medical Corp. has received, and has just shipped, an initial order for the F.A.S.T. 1(TM) System to Fort Benning Georgia. We have received strong interest from all elements of Special Operations Command as well as regular military forces in the US and International Forces. Pyng Medical anticipates a strong response from S.O.C after training is completed at JFK and as we prepare for marketing and mass production. A further news release will address mass production and marketing goals for the future as well as provide intentions for media coverage and improvements to corporate training/marketing videos. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Pyng Technologies Corp. Michael W. Jacobs President 1-800-349-7964 Web site: www.pyng.com E-mail: pyngmed@axionet.com The VSE has neither reviewed or approved the contents of this news release.