VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2009) - Pyng Medical Corp. (TSX VENTURE:PYT) today announced it has in-licensed the exclusive worldwide rights to commercialize a proprietary emergency surgical airway trainer in preparation for the international launch of the Company's CRIC(TM) Cricothyrotomy System.
The trainer, code named 'SEATD' (Stock Emergency Airway Training Device), provides dynamic anatomical replication, enabling superior, realistic teaching and training scenarios for all surgical airway instruments and techniques. It is the first and only flexible training device that replicates the tracheal anatomy, integrating skin, cricothyroid structure, membrane and trachea in an economic, replaceable module. SEATD utilizes a synthetic "skin" that is a better analog to human skin than any other commercial kit, providing true feel and "cuttability" of actual patient skin.
"It is critically important to facilitate simple and realistic training for medics and physicians on emerging new life-saving technologies to accelerate the rate of market adoption," said David Christie, President and CEO. "The SEATD prototype has been extremely well received by medical practitioners in both field use and clinical settings, and that bodes extremely well for future CRIC(TM) sales," adds Christie.
The SEATD was designed and developed from a concept created by Dr. Larry Stock, emergency department physician at UCLA's Antelope Valley Hospital and medical advisor for Pyng's expanding emergency surgical airway products. "This device is designed to provide maximum training and teaching utility and convenience," said Dr. Larry Stock. "The trainer provides skin, membrane and cartilage tissue replication superior to any other commercial device, providing for true feel in tissue incision and manipulation."
CRIC(TM) is a lightweight handheld device that incorporates all necessary instruments including a depth-controlled scalpel in an easy to use, ergonomically designed system. In addition to funding support from the US Department of Defense, CRIC(TM) has been specifically designed as a standard piece of lifesaving equipment for use by medics under very difficult conditions. CRIC(TM) was developed with $750,000 of funding support and design input provided by the US Department of Defense for the purpose of equipping US military medics. As with the Company's MAT(R) and TPOD(R), CRIC(TM) is designed to provide significant improvements in speed, efficacy and safety to lifesaving medical procedures worldwide.
About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1(R) Intraosseous Infusion System, Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company's proprietary FAST1(R), the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the "2007 TSX Venture 50" Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.
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.
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