ProUroCare Medical Inc., (OTCQB: PUMD), a provider of proprietary medical imaging products, announced today it has appointed Stan Myrum a consultant to lead its technology and product development efforts. This consulting activity follows the successful raise of more than $700,000 in new equity capital intended to help the company advance towards active commercialization.
In this new role, Myrum will manage all design and manufacturing functions required to move the recently FDA-approved ProUroScan™ prostate mechanical imaging (PMI) system to commercialization. Specifically, he will assist with efforts to finalize the multiple-use sensor probe that will comply with new FDA guidance on cleaning and disinfecting of reusable medical devices. He will also collaborate with the company’s development partners to implement design and monitoring of good manufacturing practices (GMP), which are critical for companies marketing a medical device.
Myrum is a 31-year veteran of Medtronic Inc., having filled numerous executive and operational roles for its U.S. and international operations. Most recently, he was vice president of quality and operations for Medtronic’s Cardiac Rhythm Disease management business unit. He’s conducted or overseen numerous due diligence assessments throughout his career, experience that will be invaluable as ProUroCare interacts with potential strategic partner organizations capable of providing sales and in-service support within the urologic market.
“We are very excited to have Stan join our team as we transition out of the pre-FDA approval phases of our product’s development and prepare for sales and marketing of the system. His work will be essential in our efforts to establish the ProUroScan as a routine tool that urologists will use to augment their current screening tools,” said Rick Carlson, CEO of ProUroCare.
About ProUroCare Medical Inc.
ProUroCare Medical Inc. is a publicly traded company engaged in the business of creating innovative medical imaging products. The company’s ProUroScan system, an elasticity imaging technology used to document abnormalities of the prostate previously detected by a digital rectal examination, received commercial clearance from the FDA on April 27, 2012. Based in Minneapolis, the company’s stock trades on the OTCQB market (www.otcmarkets.com).
This news release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as "believes," "expects," "anticipates," "intends," "will," "may," "should," or similar expressions. These forward-looking statements are not guarantees of ProUroCare's future performance and involve a number of risks and uncertainties that may cause actual results to differ materially from the results discussed in these statements. Factors that might cause ProUroCare's results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, the ability of ProUroCare to find adequate financing to complete the development of its products; the high level of secured and unsecured debt incurred by ProUroCare; the impact and timing of actions taken by the FDA and other regulatory agencies with respect to ProUroCare’s products and business; the dependence by ProUroCare on third parties for the development and manufacture of its products; and other risks and uncertainties detailed from time to time in ProUroCare's filings with the Securities and Exchange Commission including its most recently filed Form 10-K and Form 10-Q. ProUroCare undertakes no duty to update any of these forward-looking statements.
Aaron Berstler, 651-789-1264