MINNETONKA, Minn., Oct. 30 /PRNewswire-FirstCall/ -- Uroplasty, Inc. , a Minnetonka, Minnesota-based medical device company that develops, manufactures and markets innovative, proprietary products for the treatment of voiding dysfunctions, announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission in anticipation of a proposed public offering of up to $12,000,000 of its common stock. Subject to regulatory review, Uroplasty expects to conduct the offering in early December 2006.
Craig-Hallum Capital Group LLC will act as exclusive selling agent in connection with this proposed public offering. A copy of the prospectus relating to these securities may be obtained, when available, from Craig-Hallum Capital Group LLC, 222 South Sixth Street, Minneapolis, Minnesota 55402.
Uroplasty’s products include: -- Macroplastique(R), a minimally invasive, implantable soft tissue bulking agent for the treatment of urinary incontinence. When Macroplastique is injected into tissue around the urethra, it stabilizes and “bulks” tissues close to the urethra, thereby providing the surrounding muscles with increased capability to control the release of urine. -- I-Stop(TM), a minimally invasive biocompatible, polypropylene, tension-free sling for the treatment of female urinary incontinence. The I-Stop sling can correct stress urinary incontinence by providing tension-free hammock-type support for the urethra to prevent its downward movement and the associated leakage of urine. -- The Urgent(R) PC neuromodulation system, a minimally invasive device designed for office-based treatment of overactive bladder symptoms of urge incontinence, urinary urgency and urinary frequency. This product uses percutaneous tibial nerve stimulation to deliver an electrical pulse that travels to the sacral nerve plexus, a control center for bladder function.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is not an offer to sell or the solicitation of an offer to buy, including in states requiring registration or qualification of offers, solicitations or sales of securities.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. This press release contains forward-looking statements, which reflect our views regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words “aim,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions, which indicate future events and trends, identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: the effect of government regulation, including when and if we receive approval for marketing products in the United States; the impact of international currency fluctuations on our cash flows and operating results; the impact of technological innovation and competition; acceptance of our products by physicians and patients, our historical reliance on a single product for most of our current sales; our ability to commercialize our recently licensed product lines; our intellectual property and the ability to prevent competitors from infringing our rights; the ability to receive third party reimbursement for our products; the results of clinical trials; our continued losses and the possible need to raise additional capital in the future; our ability to manage our international operations; our ability to hire and retain key technical and sales personnel; our dependence on key suppliers; future changes in applicable accounting rules; and volatility in our stock price. We cannot assure that we will successfully raise funds in our proposed public offering.
FOR FURTHER INFORMATION: visit Uroplasty’s web page at http://www.uroplasty.com or contact Mr. Kaysen.
UROPLASTY, INC. David B. Kaysen, President / CEO 5420 Feltl Road Minnetonka, Minnesota 55343 Tel: 952.426.6140 Fax: 952.426.6199 E-mail: dave.kaysen@uroplasty.com
Uroplasty, Inc.
CONTACT: David B. Kaysen, President / CEO, of Uroplasty, Inc., Tel:+1-952-426-6140, or Fax: +1-952-426-6199, or E-mail:dave.kaysen@uroplasty.com
Web site: http://www.uroplasty.com/
