BioSphere Medical-TM- Chief Executive Officer to Resign; Paul A. Looney appointed Chairman.Business Editors ROCKLAND, Mass.--(BUSINESS WIRE)--June 3, 2002 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 Inc. (Nasdaq: BSMD) today announced that John Carnuccio, President and Chief Executive Officer, will resign effective September 1, 2002, to pursue other opportunities. Paul A. Looney, who has served as a director since 1994, has been appointed Chairman of the Board. Robert Palladino, Vice President and Chief Financial Officer, has been promoted to Executive Vice President. The Board of Directors has initiated a search for a new Chief Executive Officer. "BioSphere Medical is entering a critical period of growth of its embolotherapy product line. As a result, the company represents an attractive opportunity for a seasoned executive," said Paul Looney. "John Carnuccio has made a valuable contribution in building an exciting and growing medical device franchise, and we wish him well in his future endeavors." About BioSphere Medical, Inc. BioSphere Medical, Inc., based in Rockland, Massachusetts Rockland is a town in Plymouth County, Massachusetts, United States. The population was 17,670 at the 2000 census. with 10,199 total registered voters as of December 31, 2005. , 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . 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. |
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