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Intraop Medical Corporation (IOPM) Hires Financial Advisor to Advance Strategic Alternatives


3/12/2010 12:38:04 PM

SUNNYVALE, Calif.--(BUSINESS WIRE)--IntraOp Corporation (“IntraOp”) (OTC: IOPD) announced today that it has retained NewCap Partners to act as financial and strategic advisor to assist the Board of Directors and management in evaluating strategic alternatives for the Company that may enhance shareholder value. The company has identified and developed several large markets for Interoperative Electron beam Radiation Therapy (”IOERT”) for the treatment of breast cancer and advanced tumors as well as External-beam Radiation Therapy (“EBRT”) for the treatment of skin cancer and believes that in order to maximize these markets, additional financial resources and infrastructure will be needed in the next year to meet these market opportunities in China, Europe and North America. John Powers, President and CEO of IntraOp, stated, "Interest by prospective customers and users continues to increase in the Mobetron, our mobile electron-beam radiation therapy system, from both the IOERT and EBRT markets. In addition, we have received expressions of strategic interest in IntraOp from other healthcare companies. Accordingly, we have decided to engage a financial advisor experienced in the healthcare sector to help us evaluate our financing and strategic alternatives, which could include an investment, a manufacturing or distribution alliance, a change of control transaction or other type of transaction.”

Read at BioSpace.com


   

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