VANCOUVER, BRITISH COLUMBIA, Feb. 10, 2011 (Marketwire) --
Pyng Medical (TSX VENTURE:PYT) announced that it has completed a root-cause analysis on FASTx(R) in follow-up to reported insertion failures in a handful of early military training environments. From this analysis Pyng has validated that there are times where lateral motion can bend the insertion needle (stylet). This has not been observed in the unconscious patient or in cadaver validation; however it has been seen with live/conscious healthy patients in training settings. Pyng is now pursuing several options to mitigate root-cause and anticipates choosing a final solution within the next several months.
Mark Hodge, President and Chief Executive Officer for Pyng, commented; "Shortening the FASTx(R) redevelopment timeline, while at the same time bringing back an even more robust product to market, is Pyng Medical's number one priority. The company is by no means "accepting a long timeline" and will engage all necessary resources to minimize the duration of the process."
About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. 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.
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Pyng Medical Corp.
Chief Executive Officer