BioSphere Medical Elects Paul A. Looney as President and Chief Executive Officer.Business Editors and Health/Medical Writers ROCKLAND, Mass.--(BW HealthWire)--Aug. 13, 2002 Paul A. Looney to Assume New Leadership Role in Addition to Chairman of the Board BioSphere biosphere, irregularly shaped envelope of the earth's air, water, and land encompassing the heights and depths at which living things exist. The biosphere is a closed and self-regulating system (see ecology), sustained by grand-scale cycles of energy and of Medical(TM), Inc. (Nasdaq: BSMD) today announced that Paul A. Looney has been elected as its President and Chief Executive Officer effective immediately. Mr. Looney will continue to serve as Chairman of BioSphere Medical's Board of Directors. Mr. Looney has served as a director of BioSphere Medical since 1994. Prior to his election as President and Chief Executive Officer of BioSphere Medical, Mr. Looney was most recently the President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Biopure Corporation. Prior to that position, he served as President and Chief Executive Officer of Corning Costar Corporation and Chief Operating Officer of Millipore Corporation For other uses, see Millipore. Millipore Corporation (NYSE: MIL) founded in 1954, listed among the S&P 500 since the early 1990s, is an international biosciences company, known widely for its micrometer pore-size filters and tests. . "As a long-time supporter of BioSphere Medical, I am very excited about being more involved in the day-to-day operations", stated Mr. Looney. "We are defining opportunities that we believe will maximize our leadership in embolotherapy and interventional radiology interventional radiology Imaging A subspecialty of radiology that provides Diagnostic information–eg, CT-guided 'skinny' needle biopsies and dye injection for analysis of various lumina and tracts–eg, arteriography, cholangiography, antegrade ." About BioSphere Medical, Inc. BioSphere Medical, Inc. (the "Company"), based in Rockland, Massachusetts, is a medical device company focused on embolotherapy, the treatment of tumors and vascular malformations by occluding their blood supply. The Company is pioneering the use of patented and proprietary bioengineered microspheres as a new class of embolics. BioSphere Medical's lead products, Embosphere(R) Microspheres and EmboGold(TM) Microspheres, have been cleared by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. for marketing for hypervascularized tumors and vascular malformations. The Company has filed a 510(k) application and is currently awaiting a decision by FDA on expanded labeling that would include use of Embosphere(R) Microspheres for uterine fibroid embolization Uterine Fibroid Embolization Definition Uterine fibroids are growths in the muscular tissue of the womb (uterus). Uterine fibroid embolization is non-surgical removal of the growths through the use of a tubular device called a catheter. (UFE UFE Uterine Fibroid Embolization UFE United for a Fair Economy UFE Ufficio Federale dell'Energia UFE Uniform Final Examination UFE Urban Challenge Final Event (DARPA) UFE Unidentified Flags and Ensigns UFE Unrestricted Free Agent ) in the United States. BioSphere Medical has received CE Mark approval in the European Community and approvals in Canada and Australia which allow the Company to sell Embosphere(R) Microspheres and EmboGold(TM) Microspheres for use in general embolization embolization /em·bo·li·za·tion/ (em?bo-li-za´shun) 1. the process or condition of becoming an embolus. 2. therapeutic introduction of a substance into a vessel in order to occlude it. procedures, including uterine fibroid embolization. For additional information about BioSphere Medical, see the Company's website at www.biospheremed.com. Statements in this press release that are not strictly historical are forward-looking statements. Actual results may differ from those projected in forward-looking statements due to risks and uncertainties that exist in the Company's operations and business environment. These risks include, without limitation, the Company's stage of product development, history of operating losses and accumulated deficits, uncertainties and possible delays related to the filing and acceptance of applications to the FDA and foreign regulatory authorities, the uncertainties of clinical trials, possible healthcare reform, manufacturing capacity, marketing, market acceptance, competition and the availability of sufficient financing to support operations. Discussions of BioSphere Medical's operations and financial condition, and specific factors that could cause the Company's actual performance to differ from current expectations, can be found in the Company's filings with the U.S. Securities and Exchange Commission, which can be accessed in the EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. database at the SEC Web site, http://www.sec.gov. |
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