VANCOUVER, BRITISH COLUMBIA--(Marketwire - December 07, 2009) - Pyng Medical Corp.'s (the "Company") (TSX VENTURE: PYT) newest product, the CRIC Cricothyroidotomy Kit, has recently been granted the CE Mark to sell into the European market. The CRIC provides a rapid, one-handed Cricothyroidotomy solution including illumination and built in safety-features, all in a single compact device.
Following on this news, Pyng Medical has received its first purchase order for the CRIC from CIR Medical, a leading medical device distributor in France. The securing of this first CRIC order will serve as its introduction into the European marketplace as well as the rest of the world.
"We are very excited about this first sale of the CRIC to CIR Medical," commented Bob DiSilvio, President and CEO of Pyng Medical. "The European market is a great place for the CRIC to be introduced and will serve as an excellent starting point to market the features and life-savings benefits of this extraordinary product."
"CIR Medical is very happy to be distributing the CRIC Kit on behalf of Pyng Medical in France," added Lionel Boulleret of CIR Medical. "This product will complete our product line of innovative and life-saving medical devices."
Pyng has applied to the FDA for clearance to allow sales in the US. For more information on the CRIC Kit, please visit our website at www.pyng.com.
About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front line critical care personnel. Creators of the FAST1® Intraosseous Infusion System, Pyng's expanded product portfolio includes a variety of innovative, lifesaving tools including the T-POD® Pelvic Stabilizer and MAT® Tourniquet. 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®, 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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