LAS VEGAS, June 9 /PRNewswire-FirstCall/ -- CPC of America, Inc. (OTC Bulletin Board: CPCF), announced today that its first patent filing of a synthetic sealant for its specific application to the MedClose(TM) Vascular Closure System (VCS) -- previously announced May 21, 2009 -- represents a much broader foundation and basis for its new strategic plan as a Closure Products Company. CPC is presently focused on the development and testing of the MedClose(TM) VCS, which is an internal puncture-closing system for use in percutaneous intravascular diagnostic and interventional procedures, and announced today it will alsi gueo design and develop new vascular closure applications based upon a broader range of French sizes (i.e., introducer sheath diameters). The MedClose(TM) VCS design has the capabilities to be rapidly adapted to not only focus on its core VCS application for vascular closure following diagnostic or interventional procedures (coronary, carotid, cerebral, peripheral) with 6-9 French (Fr) catheters but also for:
Importantly, the synthetic sealant and its characteristics also have potential future applications such as internal and external bonding and coating of tissue and instruments, (e.g., temporary coatings for burn victims, grafting of artificial skin, adhesion prevention, coatings on polymers, or coatings on implant devices such as stents or grafts), biopsy sealing) with or without drug delivery (e.g., the delivery of glucosamine and chondroitin sulfate into the spine area or other body organs), stem cell or growth factor delivery (e.g., the delivery of stem cells and/or growth factors into the spine area or other body regions), tissue sealants/adhesives to control of bleeding or fluid leakage in body tissue (e.g., lung sealing or hemostasis, tissue, muscle, and bone growth and regeneration) and dermatology (e.g., collagen restoration/replacement, topical application or void-filling by injection to fill wrinkles).
We believe that our sealant offers some important potential advantages over other sealants in several respects. First, as a synthetic sealant, our product is free from the risk of blood-borne and other pathogens. Second, testing to date indicates excellent adhesive strengths when applied to wet areas of tissue which could offer a tremendous competitive advantage due to the fact that vascular closure sites are normally initially wet due to the presence of blood or body fluids. And finally, the synthetic sealant appears to perform independently with respect to the level of anti-coagulation present.
We believe the MedClose(TM) VCS System has the potential to represent multiple product lines in multiple market segments, enhancing the value to such intellectual property. We are no longer one dimensional but believe in the original vision we had with the acquisition in November 1999 of closure technology with broad applications as stated above. We continue to improve the MedClose(TM) VCS by strengthening the platform of regulatory, quality, manufacturing, etc. capabilities for new product development and sustaining engineering.
CPC of America develops therapeutic devices for use in endovascular procedures. CPC's current focus is the completion of development and testing of the MedClose(TM) 6-9Fr vascular closure system, an internal puncture-closing system for use in catheter laboratories and interventional radiological procedures. CPC is also focusing on its own synthetic sealant product line for various future applications. Currently no products are available for commercial usage.
Forward Looking Statements
The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding the Company's expectations, beliefs, intentions or strategies regarding the future. Such forward-looking statements relate to, among other things: (1) the Company's continuing development of its MedClose(TM) vascular closure system, (2) the Company's expectations concerning regulatory approvals of the MedClose(TM) system and the commencement of revenue producing operations based on the sale or licensing of the MedClose(TM), (3) the business relationship between the Company and new parties and the expected benefits to the Company from such relationship, and (4) the commencement of manufacturing of the MedClose(TM) system. These statements are qualified by important factors that could cause the Company's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company's ability to finance the continued development and commencement of manufacturing of the MedClose(TM) system, (2) regulatory approvals of the MedClose(TM) system, (3) the general risks and uncertainties inherent in any new business relationship such as the one recently entered into between the Company and its new consultants, and (4) those other risks and factors described from time to time in the Company's reports filed with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2008 and subsequently filed Forms 10-Q and Forms 8-K. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur
|SOURCE CPC of America, Inc.|
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