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PLC Systems Reports First Quarter 2011 Results
Date:5/16/2011

marketing strategy in Europe and other countries where RenalGuard is already on the market. As a result, today we have a very sharp focus: with RenalGuard as our sole product and running our U.S. clinical trial and increasing sales in the rest of the world as our mission going forward."

He added, "This week, we are meeting with our international distributors at EuroPCR, the major cardiology forum in Europe. At this conference, we will present again the significant findings from the REMEDIAL II study announced in April in the late-breaking clinical trials session at the American College of Cardiology conference. These results indicate that RenalGuard is more effective than the standard of care in preventing the onset of contrast induced nephropathy (CIN) in the at-risk population, and greatly reduces the need for dialysis in treated patients. We hope to use these results to re-energize our expanded distributor network to boost sales and usage of RenalGuard in countries where it can be marketed. We continue to believe that RenalGuard addresses a large and growing market opportunity and we intend to work diligently to educate medical professionals about its benefits for the growing population of patients at risk of contracting CIN."

Mr. Tauscher concluded, "In the U.S., we are moving ahead to re-open contract negotiations with Investigational Review Boards at potential sites for the U.S. pivotal trial, and working to re-engage principal investigators in our clinical trial process. We are confident that with the needed financing, and the positive results from the Italian trials, we will be able to move this program forward expeditiously."

Sale of TMR BusinessOn November 8, 2010, PLC announced that it had signed a definitive agreement to sell substantially all of its TMR assets to Novadaq Technologies for a purchase price of $1 million in cash, plus the assumption of all obligations under TMR service contracts totaling approximately $614,000. The
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