Urodynamix Technologies Ltd.
TSX VENTURE : URO

Urodynamix Technologies Ltd.

October 04, 2007 12:53 ET

Urodynamix Appoints David Goodkin, MD to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Urodynamix Technologies Ltd. (TSX VENTURE:URO) today announced the appointment of David Goodkin, MD, FACP to the Board of Directors. This appointment increases the company's Board membership to six, including a five-member independent majority.

Dr. Goodkin is Acting Executive Vice President and Chief Medical Officer of privately held biopharmaceutical company Xenon Pharmaceuticals Inc., a position he has held since February 2007. From August 2002 to January 2007, he was Senior Vice President, Development and Chief Medical Officer of ICOS Corporation, source of the blockbuster impotence drug Cialis. ICOS was acquired by Eli Lilly for $2.1 billion in 2006. Prior to ICOS, Dr. Goodkin spent 10 years at Amgen Inc. where he held a number of senior management positions. As Vice President, Clinical Research at Amgen he supervised team leaders for all clinical programs and was responsible for the international design, implementation, interpretation and reporting of clinical trials.

Dr. Goodkin received a bachelor of arts degree from Dartmouth College and a medical degree from the State University of New York. He completed his residency in internal medicine at the University of Miami School of Medicine and fellowship training in nephrology at Temple University Health Sciences Center and Albert Einstein Medical Center. From 1985 until 2002, Dr. Goodkin was an attending physician specializing in nephrology and internal medicine.

"We welcome David to the board and look forward to calling upon his depth of knowledge in pharmaceutical development as we continue to expand our product portfolio," said Barry Allen, Chairman of the Board of Urodynamix.

Urodynamix also reported that it has issued 170,000 incentive stock options to employees and Directors of the Company. The options have a term of five years, an exercise price of $0.28 per share and have been issued in conformance with TSX Venture Exchange regulations. Urodynamix currently has outstanding 81,727,893 common shares and 6,718,500 incentive stock options. The company's Stock Option Plan allows the Board to issue the equivalent of up to 10% of the issued and outstanding share capital of the company on a rolling basis and was approved at the company's last Annual General Meeting held on June 4, 2007.

About Urodynamix Technologies Ltd.

Urodynamix is developing a portfolio of non-invasive diagnostic products for large and growing global healthcare markets. The Company is currently developing medical devices that use near-infrared spectroscopy (NIRS) to aid in the diagnosis and treatment of urological conditions, intra-abdominal hypertension and compartment syndrome, erectile dysfunction and vascular diseases. Urodynamix's breakthrough technology has the potential to beneficially affect more than 200 million people worldwide.

On behalf of the Board,

Barry Allen, President & CEO

Urodynamix Technologies Ltd.

Certain information contained in this press release may be forward-looking and is subject to unknown risks, which could cause actual results to differ materially from those set forth or implied herein. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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