Navigation Links
Flexible Medical Systems Raises $1.2M Seed Investment for Initial Human Trials
Date:9/21/2007

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 http://www.flexmedsys.com.

Contact: Richard H. Smith, rsmith@flexmedsys.com


'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... , June 24, 2016  Collagen Matrix, ... design, development and manufacturing of collagen and mineral ... announced today that Bill Messer has ... Marketing to further leverage the growing portfolio of ... devices. Bill joins the Collagen Matrix ...
(Date:6/24/2016)... , June 24, 2016 ... Markets has announced the addition of the " ... offering. This ... and provides an updated review, including its applications in ... the total market, which includes three main industries: pharmaceutical ...
(Date:6/24/2016)... BEIJING , June 24, 2016 Dehaier ... or the "Company"), which develops, markets and sells medical ... China , signed a strategic cooperation agreement with ... as "Hongyuan Supply Chain") on June 20, 2016, to ... Under the strategic cooperation agreement, Dehaier will leverage Hongyuan ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... 26, 2016 , ... PawPaws brand pet supplements owned by Whole ... enhance the health of felines. The formula is all-natural and is made from Chinese ... PawPaws Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and ...
(Date:6/25/2016)... FL (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial ... Plant City Observer , brings up a new, often overlooked aspect of head lice: the ... closing for fumigation is not a common occurrence, but a necessary one in the event ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary ... Work award to iHire in recognition of their exemplary accomplishments in worksite health promotion. ... Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire ...
(Date:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was ... his family verbally and physically. , “When something upset him, he couldn’t control his emotions,” ... He would throw rocks at my other children and say he was going to kill ...
(Date:6/24/2016)... ... ... of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum Wage’ ... 2020 and then adjusting it yearly to increase at the same rate as the median ... floor does not erode again, and make future increases more predictable. , The company is ...
Breaking Medicine News(10 mins):