CORPUS CHRISTI, Texas, Oct 16, 2006 (BUSINESS WIRE) -- CSMG Technologies, Inc., (OTCBB: CTUM), a technology management company focused on commercializing human live tissue bonding devices and renewable energy landfill gas production systems, announced its Live Tissue Connect Technology subsidiary received a strong positive response from the Bulgarian Medical Academy of Science. In the three day symposium October 10 - 12, 2006, the Live Tissue Connect technology was presented by CSMG Technologies and Ukraine researchers in a symposium entitled "Welding of Live Tissues." The symposium highlighting the tissue welding technology was arranged and sponsored by the Bulgaria Academy of Sciences.
The presentation included Live Tissue Connect's Ukraine surgeon's presentations at the symposium as well as a live demonstration at the Military Medical Academy. Attendees included major surgeons from Bulgaria with different specialties. There were also representatives from the National Academy of Sciences of Bulgaria, Bulgarian Welding Society, Medical University of Sofia, Military Medical Academy of Sofia, Technical University of Sofia, Federation of Scientific Technical Unions of Bulgaria, "Pirogov" University Multiprofile Hospital for Active Treatment and Emergency Medicine, of Sofia and Technical University of Sofia.
On October 11, a major Bulgarian newspaper "24 Hours" carried a front page headline entitled "Wounds in Surgery are Welded." On October 12, another major Bulgarian newspaper, "Standard," carried a full page article entitled "Surgeries are Done With Current Instead of Scalpel" and a sub article entitled "Our Surgeons are Ready to Weld." Additionally, the Bulgarian National Channel television carried a report and interview with Dr. Makarov on that evenings newscast.
Donald Robbins, president and CEO of CSMG Technologies, Live Tissue Connect's parent company, said, "The response of the Bulgarian Medical Community to tissue welding and the enthusiasm expressed by the Bulgarian surgeons was overwhelming. We are looking forward to working with Bulgaria, a country of approximately 8,000,000 people, as our next commercial market where we have already received indications of interest for device purchases."
About CSMG Technologies' Tissue Welding/Bonding Technology
Surgeons at 27 Ukraine hospitals and clinics are using the tissue welding/bonding technology in clinical trials. They have completed more than 6,000 human surgeries using more than 80 types of open and laparoscopic surgical procedures, demonstrating the technology is universal in its ability to repair soft biological tissue. These surgeries included lung, neuro-surgery, nasal septum, intestine, stomach, skin, gall bladder, liver, spleen, blood vessels, nerves, alba linea, uterus, bladder, gynecological, fallopian tube, ovary and testicles and dura-matter. Cosmetic surgeries conducted with this technology include breast reduction, breast implants, mastopexy and abdominal plasty. The procedure involves little or no scarring, while restoring the normal function of the body organ or tissue.
The LTC tissue bonding / welding device is a platform technology that bonds and reconnects living soft biological tissue through fusion without the use of foreign matters or conventional wound closing devices such as sutures, staples, sealant, or glues.
The technology was invented and developed at the internationally renowned E.O. Paton Institute of Electric Welding, National Academy of Sciences of Ukraine, Kiev, Ukraine, headed by Professor B.E. Paton. U.S. and Australia patents have been issued, a patent in the European Union has been approved, and additional U.S. and foreign patents are pending.
About CSMG Technologies, Inc.
CSMG Technologies is a technology management company that finances, owns, develops, licenses and markets innovative advanced technologies and business opportunities created in the Ukraine through a network of scientific institutes and private organizations. CSMG has three subsidiaries, Live Tissue Connect, Inc., CSMG Gastech, LLC and Anaerobic Farm Waste, Inc.
For further information on CSMG Technologies and its various subsidiaries, please visit our website at www.ctum.com.
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
SOURCE: CSMG Technologies, Inc.
CSMG Technologies, Inc.
Donald S. Robbins, 361-887-7546
or
K. Bruce Jones, 770-955-0409
or
ROI Group Associates, Inc.
Michael Dodge, 212-495-0744
mdodge@roiny.com
or
Bob Giordano, 212-495-0201
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