Huntington Beach, CA (PRWEB) September 30, 2009
iTech Medical, Inc. (OTCBB: IMSU, FWB: 0IM), an information technology company, announced today that Wayne Cockburn, President and CEO will be presenting an overview of the Company's proprietary information technology platform, Muscle Pattern Recognition (MPR) at BioContact Québec 2009. MPR is a patented clinical tool that analyzes patterns of muscle recruitment. MPR provides detailed physiological information on muscle function that can assist in the diagnosis and treatment of back and neck injuries and illness.
Mr. Cockburn states the opportunity to present at BioContact Québec 2009 arrives at a strategic moment for the company.
"I am very excited about the opportunity to present an overview of iTech Medical at such a high profile event," Mr. Cockburn said. "Canada's biomedical industry is strategically important to our commercialization strategy and BioContact is considered one of the premiere industry events for partnering. We are exploring a number of different options to develop and distribute MPR in Canada and other countries and symposiums such as BioContact Québec enable global networking that can lead to key strategic alliances for our company."
About BioContact Quebec 2009:
BioContact Québec 2009 features over 140 companies, coming from Canada, the United States, Asia and Europe with presentations in key sectors of activities (diagnostics, therapeutics and services) and disciplines ranging from cancer and medical technologies to metabolism and virology. Over 1,200 participants representing all sectors of the biomedical industry attend.
iTech Medical Presentation by Wayne Cockburn, CEO
BioContact 2009 Québec
The Chateau Frontenac
Salle Petit Frontenac
October 8, 2009 at 4 PM
Information: BioContact Website
Corporate Update on iTech Medical
The latest news on iTech Medical (formerly Impact Medical Solutions, Inc.) includes further progress in its clinical program, securing an investment banker for the financing of the Company, global partnership discussions and potential grant funding.
"The past several months have been very productive for us at iTech Medical," said Mr. Cockburn. "On the research and clinical side, we've been busy with our clinical trial at the Utah Spine & Joint Center in Salt Lake City and remain very encouraged with the broad interest in the Muscle Pattern Recognition System. Development also continues on the commercial version of the MPR System which we hope to complete in the first quarter of 2010 - immediately prior to the commencement of our pivotal, outcome trial in North America and the EU. On the commercial side, we recently signed an engagement agreement with D&D Securities of Toronto to work with us to raise up to $5 million to complete our clinical and regulatory work on the MPR System and to commercially launch the system in limited markets in the U.S. and the EU. We also continue to advance discussions with a number of groups regarding the marketing and distribution of the MPR System in various parts of the world. We hope to secure one or more agreements during the first half of next year."
iTech Medical also announced that it has submitted a number of grant applications to the National Institutes of Health (NIH). The goal of the targeted grant programs is to objectively measure and quantify possible improvement in Complementary and Alternative Medicine (CAM) interventions such as acupuncture, yoga, meditation and massage in individuals with musculoskeletal back and neck pain utilizing iTech Medical's Muscle Pattern Recognition technology. Additional U.S. and Canadian grants are also being explored.
About iTech Medical
iTech Medical, Inc. (OTCBB: IMSU, FWB: 0IM) is engaged in the research and commercial development of healthcare information systems and technologies. To date, the Company has focused on developing a proprietary platform called Muscle Pattern Recognition (MPR), a unique clinical tool for the analysis of muscle function. MPR is a patented clinical tool that analyzes patterns of muscle recruitment. It provides detailed physiological information on muscle function that can assist in the diagnosis and treatment of back and neck injuries and illness.
Forward-Looking and Cautionary Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect management's current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as "anticipate," "believe," "estimate," "expect," "intend," "project," "plan," "outlook," and other words and terms of similar meaning.
These statements involve a number of risks and uncertainties that could cause actual results to materially differ from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: general economic conditions, acquisitions and development of new businesses, divestitures, product availability, sales volumes, pricing actions and promotional activities of our competitors, profit margins, weather, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, our ability to react to a disaster recovery situation, and the impact of labor markets and new product introductions on our overall profitability.
A further list and description of these risks, uncertainties and other matters can be found in the company's annual report and other reports filed from time to time with the Securities and Exchange Commission, including, but not limited to, iTech Medical's Annual Report on Form 10-K filed with the SEC on April 15, 2009. iTech Medical cautions that the foregoing list of important factors is not complete and assumes no obligation to update any forward-looking statements that it may make.
Wayne Cockburn, CEO
iTech Medical, Inc.
714.841.2670 (Huntington Beach, CA Office) 905.505.0770 (Montreal, Office)Email: Wayne.Cockburn (at) iTechMedical.com