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Coronado Industries Provides Update on European Activities; Clinical Trial Enrollment Begins in Italy FOUNTAIN HILLS, Ariz., Aug 16, 2004 (BUSINESS WIRE) -- Coronado Industries Inc. (OTC BB: CDIK), the manufacturer of unique proprietary pneumatic devices for the treatment of glaucoma, provided today an update on European activities related to the marketing and shipment of PNT equipment to Europe. As was reported previously, the company recently obtained 2A CE approval which now allows its distributors in Italy, Spain and Portugal to begin marketing and distribution activities.
The company's Italian distributor, Eupharmed s.r.l., is moving forward with their launch activities. The formal product launch will initially target the major glaucoma treatment hospitals and key opinion leaders across Italy. "The vast majority of glaucoma patients in Italy are referred by their community ophthalmologist to hospital-based glaucoma specialists for treatment," said Dr. J.W. Sharkey, the company's director of operations. "Ensuring the availability of PNT at these centers is a key component to successfully launching the product within the Italian marketplace." In parallel to the product launch, Eupharmed will also initiate enrollment into a multi-center trial, which will further expand the available database on the benefits of using PNT in the overall management of the glaucoma patient. The selected trial sites, which will involve several leading glaucoma centers and key opinion leaders, will also further enhance the awareness of PNT with these important segments. As was previously disclosed, the agreement with Eupharmed allows Coronado to use the data generated from the trial to support the marketing efforts of their other distributors and also be used in support of additional product registrations in the United States and elsewhere.
Launch activities are also underway in Spain and Portugal. Izasa S.A., Spain's largest medical device distributor, as well as Coronado's distributor in these countries, will formally launch the product in the next few weeks. "Unlike the Italian market, the majority of glaucoma patients in these countries are treated by office-based specialists. As a result, the launch strategies and activities required to successfully launch PNT in these markets are clearly different," said G. Richard Smith, Coronado Industries' CEO. "One of the key reasons for our decision to utilize local distribution partners within the EU was due to the significant differences in how glaucoma patients are managed across Europe. This decision has been confirmed as the correct one as we have seen the marketing and distribution strategies our partners have developed for their individual markets," he also said.
Activities are also well underway in identifying exclusive distribution partners in other countries within the European economic community. This activity is being led by the company's head of European operations, Dr. Francesco Aspes. Discussions are underway with potential partners in key EU countries and the company remains optimistic that additional distributors will be on board soon.
Everything is starting to fall into place.
We have our 2A certification.
Aspes is negotiating new agreements. Sharkey is moving us forward with our FDA status and entrance into the U.S. market.
Based on these occurrences, and what appears to be a bright future, Smith and Sharkey will start traveling this week, and on a regular basis, to financial centers around the country to interact directly with analysts and the brokerage community to build a better awareness of Coronado Industries' position as a rising medical company and a public entity.
"Our 2A certification has given us the green light and we are going," said Gary Smith, corporation president.
Through its wholly owned subsidiary, Ophthalmic International, Coronado Industries focuses on the development of its patented procedure as a cost-effective alternative for the treatment of the most common types of glaucoma which are open angle and pigmentary.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
SOURCE: Coronado Industries Inc.
Coronado Industries Inc., Fountain Hills Bob Smith, 480-837-6810 or CEOcast for Coronado Industries (Investor Relations) Ed Lewis, 212-732-4300 Customize your Business Wire news & multimedia to match your needs. Get breaking news from companies and organizations worldwide. Logon for FREE today at www.BusinessWire.com .
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News out today. If they get FDA approval in the US soon this could be big.
Coronado Industries Executives Take Their Unique Glaucoma Technology to New York's Financial Community; Further Meetings Planned in London 8/23/2004 9:30:00 AM NEW YORK, Aug 23, 2004 (BUSINESS WIRE) -- Coronado Industries Inc. ( CDIK ), the manufacturer of unique proprietary pneumatic devices for the treatment of glaucoma, said today that the company's CEO, Richard Smith, and director of operations, John Sharkey, had presented details of the company's progress to leading financial firms in New York this week. Commenting on the visit, Smith said their discussions have been "extremely fruitful" and have opened the way to further opportunities in other crucial markets.
To that end, Dr. Sharkey is now traveling to London for meetings set with companies interested in developing a market for our product in Great Britain. While in London, Dr. Sharkey will also be introducing Coronado's technology to a number of financial institutions. "Discussions have been underway with these principals over the last several weeks since receiving our 2A approval last month. However, meeting with their financial advisors in New York last week has escalated everyone's interest," said Dr. Sharkey.
The company, which recently secured 2A CE approval enabling them to distribute their technology throughout the European community, has begun shipping products to distributors in Italy, Spain and Portugal. Negotiations are underway to establish further distribution rights in a number of other major markets.
Commenting on his visit to New York, Smith said the firms and investment advisory groups that he and Dr. Sharkey had met with were enthused to learn of the strides that the company had made with its technology in Europe. "Our distributors in Italy, Spain and Portugal are well advanced in preparing formal product launches in their markets and are aggressively reaching out to hospitals, ophthalmologists, glaucoma specialists and opinion leaders."
Dr. Sharkey indicated that Coronado's management team was delighted with the progress the company was making in Europe. It will provide us with invaluable research, as well as sales revenues -- and rest assured that we conveyed this forcefully to investors in New York, and will be doing so again to the financial community in London.
Coronado Industries has, for seven years, been dedicated to its patented Glaucoma Treatment Device. Through its wholly owned subsidiary, Ophthalmic International, it focuses on the development of its patented procedure as a cost-effective alternative for the treatment of the most common types of glaucoma, which are open angle and pigmentary.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
SOURCE: Coronado Industries
Coronado Industries Bob Smith, 480-837-6810 (Investor Relations) or Marston Webb International Victor Webb/Madlene Olson, 212-684-6601 (Media)
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