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MAY 23rd, 2005
Zynex Medical Holdings, Inc. (OTCBB: ZYNX), a company that specializes
in pain management systems and electrotherapy products, reported that its sales increased 107.2 percent for its first quarter
of 2005 when compared to the same quarter a year ago. Revenues for the quarter ended March 31, 2005 were $544,943, compared
to $262,941 in the first quarter of 2004. The company also reported a profit of $0.002 a share.
Zynex President, Thomas Sandgaard commented on the positive sales
trend, and the company's stroke recovery product, NeuroMove, "We are seeing accelerating sales for our standard electrotherapy
products, which continue to gain market share, and more importantly we are also beginning to make strong inroads for our flagship
NeuroMove stroke recovery product, which represented a significant portion of sales in the quarter. With four million Americans
suffering from the debilitating effects of a stroke, we see solid potential for our proprietary and patent pending technology.
Sales of the NeuroMove to date have largely been through word-of-mouth and from a high number of inquiries that we receive
on our web site. We believe this sales effort could ramp up significantly with the marketing initiative we plan to implement
this year."
The NeuroMove system is an electro muscular training system. The
system monitors brain-to-muscle signals to determine if the patient is attempting to move a specific muscle. That specific
muscle is then moved through electrical simulation. In this way, the non-afflicted portions of the brain learn how to compensate
and send out the necessary neuro signal to move the muscle. The company indicates that the treatment has been successful and
that the treatment can also be used for spinal cord injuries.
THE MEDICAL TECHNOLOGY JOURNAL
APRIL 25, 2005
General Electric Company (NYSE: GE), through its business units, GE Global
Research and GE Healthcare, have entered into an agreement with Eli Lilly and Company (NYSE: LLY) to develop technology related
to the cure and diagnosis of Alzheimer's Diseases. The two company's plan to focus their efforts on beta-amyloid, a protein
in the brain, that is considered related to advancement of the disease. Steven Paul, Executive Vice President for Science
and Technology and President of Lilly Research Laboratories explained the strategy, "Earlier diagnosis of Alzheimer's--before
the advent of damage in the memory regions of the brain--has the potential to transform the treatment of this disease. A combined
diagnostic and therapeutic regimen that would identify people with pre-symptomatic elevated levels of beta-amyloid proteins
and plaques in their brain might enable physicians to prescribe a therapeutic to slow or stop the progression of the disease."
NanoLogix, Inc., (Pink Sheets: IFEC), a nanobiotechnology company
focused on the test kits that enable the early detection of fatal diseases in order to disenfranchise the disease, released
a study that is said to confirm that disseminated MAC and M. simiae disease exist among AIDS patients. Paul
Hyman, Ph.D. Dr. Hyman, an investigator with NanoLogix, stated "With NanoLogix's Identikits, MAC could be detected significantly
sooner than expected for normal culture techniques."
Dr. Mitchell Felder, CEO of NanoLogix, explained the social-economic
benefits of the company's work, "Dr. Hyman's validation of NanoLogix's patented technology and the subsequent FDA registration
clearly show that we can identify a costly disease in a fraction of the time. These results may also have enormous implications
in the treatment of TB, AIDS and MAC sufferers, as antibiotic-sensitivity tests can now be performed early enough to make
a difference in these patients." A leading cause of death is AIDS patients according to the company are MAC related diseases.
The presence of MAC in an AIDS patient most often indicates that a patient has just four months to live.
ReOx Ltd., based in the United Kingdom, entered into a licensing agreement
valued at $9 million with an undisclosed international biopharmaceutical company. The company is investigating the ability
for drugs to effect the ability to process oxygen and the resultant ability to fight off diseases that result from a depletion
of oxygen in the cells. These include anaemia, cancer and strokes to name just a few.
Merrimack Pharmaceuticals, Inc. reported that a recent equity and debt
financing, which consisted of $28.3 million of Series D Preferred Stock, brought in $28.3 million. The funding brings the
companies total capital equity brought in to $87 million. Robert Mulroy, CEO commented, "This financing provides the Company
with the resources to advance our pipeline and research activities through several key milestones. We are pleased by the strong
and continuing support from our investors."
Merrimack focuses on autoimmune disease and cancer. Presently, one of
its drugs, MM-093, is under evaluation for the treatment of rheumatoid arthritis.
AXM Pharma, Inc. (AMEX: AXJ) has completed a $3.125 million round, which
was obtained through an offering of convertible notes and detachable warrants. Douglas MacLellan, Vice Chairman of AXM Pharma,
Inc. indicated that the company expects more funding, "We are pleased to complete this round of financing and the two new
distribution agreements recently announced. With the current financing in place and potential for another $15.12 million in
funding from this round, we can continue fulfilling our fast-growing purchase orders that have come in since our factory opened
on March 1st. We look forward to our best year on record in 2005."
AXM Pharma, through its operations in China, lists its products as injectables,
capsules, tablets, liquids and medicated skin products.
Uroplasty, Inc. (OTC:UPST) (BULLETIN BOARD: UPST), a maker of minimally
invasive medical devices for the incontinence market, has obtained $7.5 million in funding through a Common Stock and warrant
offering.
Sam B. Humphries, President and Chief Executive Officer of Uroplasty,
Inc commented on the use of funds, and its agreement with CystoMedix, Inc. "As we plan and execute on new marketing strategies
for our developing product lines, these funds will enhance our overall capabilities. This transaction also supplies us with
the capital to meet our financial commitments and commence our work under the exclusive manufacturing and distribution agreement
we entered into earlier this week with CystoMedix, Inc. for its percutaneous tibial nerve stimulation technology to treat
overactive bladders."
American HealthChoice, Inc. (OTC:AMHI) announced that it obtained a $500,000
line of credit from Northern Healthcare Capital, LLC. The funds are planned for the marketing of the DRX9000 Spinal Decompression
System, a non-surgical method, which relieves lower back pain and pressure between the discs of the spine. The product is
marketed through RehabCo, a subsidiary of the company.
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