TORONTO, Nov. 13 /PRNewswire-FirstCall/ - Predictive medicine company
PreMD Inc. (TSX: PMD; PREMF.pk) ("PreMD" or the "Company") today announced
unaudited financial results for the third quarter of fiscal 2008 ended
September 30, 2008 ("Q3 2008").
During the third quarter, PreMD announced that:
- the PREVU* appeal is being reviewed by the FDA Commissioner's
- the agreement with AstraZeneca has been terminated;
- the Company's shares have been delisted from AMEX; and
- the Company has begun trading on the Pink Sheets.
Subsequent to quarter end:
- the Company completed a secured debenture financing for gross
proceeds of $500,000;
- the Company's breast cancer clinical data was accepted for
presentation at the 4th Annual Academic Surgical Congress; and
- a listing review was initiated by the Toronto Stock Exchange.
"We are working hard to create opportunities for PreMD. We are looking at revenue generation strategies for PREVU* with companies like Medivon, LLC as well as others in Canada, Europe and Asia and we are also pursuing opportunities in the cosmetics field," stated Dr. Brent Norton, President and CEO of PreMD. "We are also looking at strategies to monetize various tangible and intangible assets and raise short-term capital to fund operations. There are no guarantees that we will be able to achieve these plans, but we are working towards improving the future of PreMD."
The Company is also pleased to announce the appointment of Catherine
Auld, C.A., as Chief Financial Officer. Ms. Auld will be responsible for
PreMD's financial matters as well as assist in strategic and investor
relations activities. Ms. Auld brings a breadth of knowledge in both the
biotechnology and financial industries and is currently working as a
financial consultant within the biotechnology industry. Previously, Ms.
Auld was Chief Financial Officer of NeuroM
|SOURCE PreMD Inc.|
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