Navigation Links
Flexible Medical Systems Raises $1.2M Seed Investment for Initial Human Trials

ROCKVILLE, Md., Sept. 21 /PRNewswire/ -- Flexible Medical Systems (FMS) announced today that it has completed the private placement of $1.2 million of common equity to a group of accredited investors. The company will use the proceeds from the private placement to conduct human proof-of-concept trials, to pursue additional intellectual property filings and for general working capital.

"The proceeds from this investment will provide us with funding to pursue our business plan. We intend to demonstrate our proven animal study results in humans which will allow us to go to the next level," said Richard H. Smith, President. The company will occupy labs on Crabbs Branch Way in Rockville, MD.

FMS also announced that Paul A. Brown, M.D. has been elected to the company's board of directors. Dr. Brown, who holds an A.B. from Harvard College and an M.D. from Tufts University School of Medicine, is the founder and Chairman of HearUSA, Inc., a leading hearing care provider with more than 170 hearing care centers.

Before founding HearUSA in 1967, Dr. Brown was Chairman and CEO of MetPath, Inc., which offered a full range of clinical laboratory services to physicians and hospitals. Dr. Brown transformed MetPath into the largest clinical laboratory in the world with over 3,000 employees and secured its position on the American Stock Exchange. MetPath was sold to Corning in 1982 for $140 million. MetPath became Quest Diagnostics and today is the nation's leading provider of diagnostic testing, information and services with over $5 billion in annual revenues.

"Paul's extensive experience as a doctor, entrepreneur, and business leader within the challenging life science service business makes him an ideal member of FMS's board," said Founder and Chief Science Officer John F. Currie, Ph.D. "His integrity, strong leadership skills, and ability and willingness to confront and resolve tough issues will be extremely valuable to FMS as we continue to grow and change the landscape of health care."

About Flexible Medical Systems

Flexible Medical Systems, LLC (FMS) is a privately held medical device and diagnostic company developing bio-monitoring products and technologies to meet health and fitness needs. Our strong focus is on remote diagnostics capabilities for early disease detection, painless management of chronic diseases, and improved economics for patients and doctors.

For further information, click on "investor information" at FMS's website

Contact: Richard H. Smith,

SOURCE Flexible Medical Systems
Copyright©2007 PR Newswire.
All rights reserved

Related medicine technology :

1. Gene Chips to Detect CYP Variations: A New Step Toward Customized Medical Therapy.
2. AVI BioPharma Partner Cook Medical Announces Completion of Patient Enrollment for APPRAISAL Phase II Clinical Trial for Treatment of Cardiovascular Disease
3. New Study Shows That Extending Prophylaxis With Clexane / Lovenox (enoxaparin Sodium Injection) to 5 Weeks is More Effective Than 10 Days for Reducing the Risk of Venous Thromboembolism (VTE) in Acutely ill Medical Patients With Reduced Mobility
4. TransPharma Medical Announces Positive Results of Phase I Clinical Trials for Transdermal Delivery of hPTH (1-34) for Osteoporosis Treatment
5. Positive ZIO-201 Interim Phase II Sarcoma Data Presented at European Society for Medical Oncology
6. European Society for Medical Oncology (ESMO) Presents Data from the Clinical Trial of MediGenes Cancer-Killing Virus in Press Conference
7. The International Myeloma Foundation Says Data Reported at a Global Medical Meeting in Greece Demonstrates Improved Survival for a Wide Range of Myeloma Patients
8. Algeta Demonstrates Targeted Cancer-killing Potential of Novel Alpha Particle Linked Antibodies in Leading Medical Journal Blood
9. Vical Interim Clinical Results Demonstrate Safety and Tolerability of Inovio Biomedicals Electroporation DNA Delivery Technology
10. Inovio Biomedical Highlights Enhanced DNA Vaccine Potency with Electroporation DNA Delivery Technology and New Devices at Gene Therapy Meeting
11. World First Medical Treatment Announced by Researchers at Queen Mary University London and University of Leicester
Post Your Comments:
(Date:11/26/2015)... 26, 2015 Research and Markets ( ... "2016 Future Horizons and Growth Strategies in ... Shares, Country Segment Forecasts, Competitive Intelligence, Emerging Opportunities" ... --> --> This new ... Japanese therapeutic drug monitoring market, including emerging tests, ...
(Date:11/26/2015)... 26, 2015 Research and Markets ( ... Wound Care Market by Type (Dressings, Therapy Devices, Active ... Facility, Out-Patient Facility), and Geography - Global Forecast to ... --> --> The purpose of ... forecast of the global advanced wound care market. It ...
(Date:11/26/2015)... DUBLIN , November 26, 2015 /PRNewswire/ ... the addition of the "Radioimmunoassay Market ... User (Hospital, Pharmaceutical Industry, Academics, Clinical Diagnostic ... - Global Forecast to 2020" report ... ) has announced the addition of the ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... November 27, 2015 , ... The rapid speed at which ... age, more care is needed, especially with Alzheimer’s, dementia and other cognitive conditions ... overworked. The forgotten part of this equation: 80 percent of medical care occurs ...
(Date:11/27/2015)... County, CA (PRWEB) , ... November 27, 2015 , ... ... season , The company is offering customers 10% off of their purchase of lice ... any treatment at full price. According to a company spokesperson. “Finding lice is a ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... motto of progress through sharing, the 2016 Building Better Radiology Marketing Programs ... conference will begin on Sunday, March 6, 2016, at Caesars Palace in Las ...
(Date:11/27/2015)... ... November 27, 2015 , ... Keeping ... platform for mental health and wellness consultation, has collaborated with a leading web-based ... the knowledge gap experienced by parents and bring advice from parenting experts within ...
(Date:11/27/2015)... , ... November 27, 2015 , ... Avid collector, Andrew ... Arbor Michigan boxing style concert posters. This is one of Joplin's most famous and ... House at the University of Michigan in Ann Arbor. The According to Hawley, "It ...
Breaking Medicine News(10 mins):