Skyline Medical (Formerly Known as BioDrain Medical, Inc.) Reports Third Quarter 2016 Financial Results

MINNEAPOLIS, Nov. 15, 2016 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or “the Company”), developer of the innovative STREAMWAY® waste fluid disposal system for medical applications, reports financial results for the three and nine months ended September 30, 2016.

Highlights of the third quarter of 2016 and recent weeks include:

• Signed an agreement with GLG Pharma, Inc. to be the exclusive distributor of the STREAMWAY System in the U.K., Poland and certain Central European countries
• Entered into a partnership with GLG Pharma, LLC to develop diagnostic kits to be used with the STREAMWAY System
• Signed a Letter of Intent to form a joint venture with Electronic On-Ramp (EOR)
• Sold a sixth and a seventh STREAMWAY System unit to a top-ranked U.S. hospital system for its headquarters location
• Appointed Timothy A. Krochuk and J. Melville ("Mel") Engle to the Board of Directors
• Appointed Dr. Paul Sweetnam to the Medical Advisory Board
• Hired Peter Alex as Vice President of Sales to lead renewed initiative targeting both direct and distributed channels

Management Commentary