ISELIN, N.J., Nov. 13 /PRNewswire-FirstCall/ -- SyntheMed, Inc. , a biomaterials company engaged in the development and commercialization of anti-adhesion and drug delivery products, today announced that the Company’s Class A Common Stock has recently begun trading on the Frankfurt Boerse. The security trades under the ISIN #US8716271056 with Tradegate AG established as the lead broker for the security transactions.
Robert P. Hickey, SyntheMed’s President and CEO stated, “We recently received CE Mark approval for and launched our lead anti-adhesion product, REPEL-CV(R) Adhesion Barrier, for use in cardiothoracic surgical procedures in the European Union and other international markets. Achieving a listing on one of the major European exchanges supports our objective of increasing the liquidity of our stock since the majority of our shares are currently held by investors domiciled within the European Union.”
FWB(R) Frankfurter Wertpapierborse (Frankfurt Stock Exchange) is one of the world’s largest trading centers for securities. With a share in turnover of around 90 percent, it is the largest of the eight German stock exchanges. Deutsche Borse AG operates the Frankfurt Stock Exchange, an entity under public law. In this capacity it ensures the smooth functioning of exchange trading.
About SyntheMed, Inc.
SyntheMed, Inc. is a biomaterials company engaged in the development and commercialization of anti-adhesion and drug delivery products. The Company is primarily focused on the advancement and expansion of product development programs based on its proprietary bioresorbable polymer technology.
In August 2006, SyntheMed received CE Mark clearance to market its first anti-adhesion product, REPEL-CV(R) Adhesion Barrier for use in cardiothoracic surgical procedures in the European Union and other international markets. In September 2006, the Company launched REPEL-CV through a network of independent distributors. In September 2006, the Company also announced favorable results from the multi-center, pivotal clinical trial conducted in the United States for REPEL-CV. These results will be included in a PMA submission to the FDA as a basis for gaining approval to market REPEL-CV in the United States. The Company is hopeful of obtaining FDA approval in mid-2007.
Statements in this Press Release that are not statements of historical fact, including statements regarding indications of the timing or ability to achieve regulatory approval and market launch for REPEL-CV, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include but are not limited to (i) potential adverse developments regarding the Company’s efforts to obtain and maintain required FDA and other regulatory approvals; (ii) potential inability to secure funding as and when needed to support the Company’s future activities and (iii) unanticipated delays associated with manufacturing and marketing activities. Reference is made to the Company’s Annual Report on Form 10-KSB for the year ended December 31, 2005 and Registration Statement on SB-2 declared effective on August 1, 2006 (No. 333-134746) for a description of these, as well as other, risks and uncertainties.
Media Contact: Investor Contact: Francesca T. DeVellis Tara Spiess Senior Vice President TS Communications Group, LLC Feinstein Kean Healthcare 914-921-5900 617-577-8110 Spiess@biotechirpr.comFrancesca.devellis@fkhealth.com
SyntheMed, Inc.
CONTACT: Media Contact: Francesca T. DeVellis, Senior Vice President ofFeinstein Kean Healthcare, +1-617-577-8110,Francesca.devellis@fkhealth.com; or Investor Contact: Tara Spiess of TSCommunications Group, LLC, +1-914-921-5900, Spiess@biotechirpr.com
