Navigation Links
BioDrain Medical, Inc. Retains EKN Financial Services as Its Exclusive Financial Advisor and Placement Agent
Date:5/9/2011

MINNEAPOLIS, May 9, 2011 /PRNewswire/ -- BioDrain Medical, Inc. (OTC Bulletin Board: BIOR), producer of the FDA-cleared Streamway™ System for automated surgical fluid disposal, announced today that it has retained EKN Financial Services, Inc. ("EKN"), a New York-based registered broker/dealer, as its exclusive financial advisor and placement agent.

Under the terms of the agreement, EKN will assist the Company in completing a new equity financing of approximately $2 million to accelerate the Company's commercialization of its innovative technology for automatic, continuous evacuation of potentially infectious fluids during surgery and other applications.  

Kevin Davidson, President of BioDrain Medical, commented, "With EKN as our financial partner, we are confident that we can move forward aggressively with our plans to install our Streamway™ System in hospitals, surgery centers and other healthcare facilities around the country.  EKN and its investment banking team has a strong track record of advising clients on structured capital market transactions and we believe their decades of experience, particularly in the medical device area, will assist us in accessing the capital we need to move forward with our growth strategy."

EKN Managing Directors of Investment Banking, Robert J. Giordano said, "We are pleased to leverage our broad industry contacts to assist BioDrain Medical, Inc. in financing the initial commercialization of its patented, FDA-cleared Streamway™ System.  We believe many investors will be interested in supporting a company offering an innovative market-ready product that addresses the needs of approximately 40,000 operating rooms and surgical centers in the U.S."

About BioDrain Medical, Inc.

BioDrain Medical, Inc. ("BMI") is focused on the development of innovative products that safely dispose of fluids generated from surgical procedures.  Its patented, FDA cleared Streamway™ System provides hospitals and ambulatory surgical centers (ASCs) with an automatic, efficient and cost-reducing means to safely dispose of potentially infectious fluids (eg. blood) generated in operating rooms ("ORs").  The Streamway™ System protects hospital workers from exposure to such fluids, reduces handling costs, improves hospitals' regulatory compliance, and is environmentally friendly.  Since receiving FDA clearance, the Company has completed beta testing and has scheduled customer evaluations.  BMI is now in the product launch phase.  Learn more about BioDrain Medical, Inc. by visiting www.biodrainmedical.com.

About EKN Financial Services

EKN Financial Services is a New York-based full service broker dealer and investment banking firm designed to meet the varied needs of institutional and individual clients in today's highly volatile markets.  It was founded by a team of Wall Street professionals with many years of significant financial experience, particularly in the medical device sector.  The firm is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).  For more information, please visit: www.eknstock.com.

Forward-looking Statements:

Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. See the Company's most recent Quarterly Report on Form 10Q and related 8-K filings.

Investor Relations Contact:
Stanley Wunderlich
Consulting for Strategic Growth 1 Ltd.
Tel: 800-625-2236 ext. 7770
Email: info@cfsg1.com


'/>"/>
SOURCE BioDrain Medical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. BioDrain Medical, Inc. Completes Installation of Its Streamway™ Automated Surgical Fluid Disposal System in Minnesota Hospital
2. BioDrain Medical, Inc. Retains CFSG1 as Its U.S. Investor Relations Firm
3. BioDrain Medical, Inc. Is Eligible for Trading on the OTCBB, Notice of Allowance on Canadian Patent Application
4. Saladax Biomedical, Inc. Announces Pacific Rim Commercialization Team in Australia and China
5. NMT Medical, Inc. Assigned All Its Assets to Joseph F. Finn, Jr., C.P.A. of the Firm Finn, Warnke & Gayton, LLP on April 20, 2011
6. City Medical, PC Adds Digital X-ray Machine
7. Dainippon Sumitomo Pharma Co., Ltd. and Boston Biomedical, Inc. Enter Strategic Partnership on Anti-Cancer Drugs Targeting Cancer Stem Cells
8. Cayenne Medical, Inc. Launches AperFix® II
9. Nfocus Neuromedical, Inc. Luna™ Aneurysm Embolization System Receives CE Mark
10. Kips Bay Medical, Inc. Announces Pricing of its Initial Public Offering of Common Stock
11. Cayenne Medical, Inc. Appoints David B. Springer President & CEO
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... -- Research and Markets has announced the addition ... 2022" report to their offering. ... with kidney failure, it replaces the function of kidneys by ... and thus the treatment helps to keep the patient body,s ... Increasing number of ESRD patients & substantial healthcare ...
(Date:6/23/2016)... Research and Markets has announced the ... 2016 - Forecast to 2022" report to their offering. ... up to date financial data derived from varied research sources ... with potential impact on the market during the next five ... comprises of sub markets, regional and country level analysis. The ...
(Date:6/23/2016)... and INDIANAPOLIS , June ... receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship is any ... scholarship winners, announced today online at www.diabetesscholars.org ... type 1 diabetes stand in the way of academic ... supported the Foundation,s scholarship program since 2012, and continues ...
Breaking Medicine Technology:
(Date:6/25/2016)... , ... June 25, 2016 , ... First Choice ... States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm ... Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical ...
(Date:6/25/2016)... Oklahoma (PRWEB) , ... June 25, 2016 , ... ... both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures ... Oklahoma City area —Johnson is one of the first doctors to perform the ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits ... terms of the latter, setting the bar too high can result in disappointment, perhaps ... slow progress toward their goal. , Research from PsychTests.com reveals that ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set ... drug or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, ... traumatic event. , Trauma sufferers tend to feel a range of emotions, from depression, ...
(Date:6/24/2016)... ... 2016 , ... Marcy was in a crisis. Her son James, eight, was out of control. ... and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... rocks at my other children and say he was going to kill them. If ...
Breaking Medicine News(10 mins):