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PRISMEDICAL News
FOR IMMEDIATE RELEASE
PRISMEDICAL Closes Series A Financing and Submits 510(k) Application to the FDA
Napa, California - August 23, 2001
/PRNewswire/ -- PRISMEDICAL, provider of ultra-compact disposable devices that sterilize solutions and deliver therapeutic agents at the point-of-use, has received $2 million in a Series A Preferred Stock funding led by Cruttenden Partners, LLC and Cheyenne Capital. The funding will be used for the completion of regulatory approval, international joint venture agent testing, production, and fulfillment of pending military orders.
The Company also has submitted its 510(k) application to the FDA for MainStream®, a device that produces sterile purified water at the point of use.
MainStream is intended to generate sterile water:
According to the Company, this will be the first product approved by the FDA to produce sterile purified water at the point-of-use, using EPA grade drinking water. Future plans include combining MainStream with the Company's drug delivery technology to develop devices that produce a broad spectrum of fluid therapies including IV and IM drug delivery, and solutions for dialysis, nutrition, and resuscitation.
PRISMEDICAL Closes Series A Financing and Submits 510(k) Application to the FDA
Napa, California - August 23, 2001
/PRNewswire/ -- PRISMEDICAL, provider of ultra-compact disposable devices that sterilize solutions and deliver therapeutic agents at the point-of-use, has received $2 million in a Series A Preferred Stock funding led by Cruttenden Partners, LLC and Cheyenne Capital. The funding will be used for the completion of regulatory approval, international joint venture agent testing, production, and fulfillment of pending military orders.
The Company also has submitted its 510(k) application to the FDA for MainStream®, a device that produces sterile purified water at the point of use.
MainStream is intended to generate sterile water:
- as medical grade drinking water for people who are immuno-compromised and/or have chemical sensitivities or environmental illness;
- for cleaning and rinsing of open wounds;
- for infection control (cleaning and rinsing of surgical instruments, surgeons' or medical personnel's hands);
- as diluent for enteral, nutritional, oral vaccine or oral drug preparations,
- as diluent for infant formula;
- for other uses of sterile purified water the practitioner, clinic or customer deems appropriate.
According to the Company, this will be the first product approved by the FDA to produce sterile purified water at the point-of-use, using EPA grade drinking water. Future plans include combining MainStream with the Company's drug delivery technology to develop devices that produce a broad spectrum of fluid therapies including IV and IM drug delivery, and solutions for dialysis, nutrition, and resuscitation.