Name and Symbol Better Reflect Company's Innovative Medical Technology Platform
EAST SETAUKET, N.Y.--(BUSINESS WIRE)--Feb. 27, 2004--OmniCorder Technologies, Inc. (OTCBB Symbol: OMCT.OB - News) today announced that at the Special Meeting of Shareholders on February 26, 2004, it amended its articles of incorporation to officially change the corporate name from Promos, Inc. to OmniCorder Technologies, Inc. Effective Friday, February 27, 2004, the Company's common stock will begin trading under its new trading symbol: OMCT.OB. On December 19, 2003, OmniCorder Technologies, Inc. announced a $7.8 million funding which coincided with the reverse acquisition of publicly traded, Promos, Inc. (OTCBB Symbol: PMOS.OB - News).
Commenting on the corporate name change and new ticker symbol, Mark A. Fauci, OmniCorder Technologies' Founder, President and Chief Executive Officer, said, "The corporate name change and new ticker symbol better represent the Company's operations and reflect our mission to improve the quality and cost-effectiveness of healthcare services and research through identifying, acquiring and adapting military and aerospace technology for biomedical applications."
About The BioScanIR® System:
The Company's BioScanIR® System, which is available commercially in the U.S. and Europe, detects diseases that affect changes in blood perfusion by detecting minute changes in the pattern of infrared photon emissions over time. The detector technology used in the system, known as a Quantum Well Infrared Photodetector (QWIP), was originally developed for the Department of Defense's Ballistic Missile Defense Initiative. The Company owns an exclusive, worldwide license to use the technology for biomedical applications. OmniCorder believes that the BioScanIR® System will improve disease detection and disease management capabilities in many vascular and cancer medical applications. Both cancer and vascular disease are associated with abnormal blood flow in tissues and organs.
About OmniCorder Technologies, Inc.:
OmniCorder Technologies Inc., headquartered in East Setauket, New York, is a leading developer of medical imaging applications using advanced infrared focal plane arrays. OmniCorder provides imaging technology for clinicians and researchers for drug discovery, disease detection and disease management applications.
OmniCorder's mission is to improve the quality and cost-effectiveness of healthcare services and research through identifying, acquiring and adapting military and aerospace technology for biomedical applications.
The Company recently announced a $7.8 million funding which coincided with the reverse acquisition of publicly traded, Promos, Inc. (OTCBB Symbol: PMOS.OB - News)
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, the ability of the Company to develop effective new products and receive governmental approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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OmniCorder Technologies, Inc. Anne Marie Fields, 631-689-2649 x216 Corporate Communications
Source: OmniCorder Technologies, Inc.