Pyng Medical Corp.

Pyng Medical Corp.

February 10, 2011 10:58 ET

Pyng Medical Provides Update on FASTx®

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2011) - Pyng Medical (TSX VENTURE:PYT) announced that it has completed a root-cause analysis on FASTx® 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® 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. 

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.

Neither the TSX Venture Exchange nor its Regulatory Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pyng Medical Corp.
    Mark F. Hodge
    Chief Executive Officer
    1-800-349-7964 (x208)