Uroplasty, Inc. CEO Daniel Holman Talks to The Wall Street Transcript.
The Wall Street Transcript has published an in-depth interview with Daniel G. Holman of Uroplasty, Inc. (OTC BB:UROP), in which he talks at length about his company's future.
He says, "Uroplasty was incorporated in 1992 as a urological medical device manufacturer. I took over the company in 1992 and brought it through reorganization. We came out of Chapter 11 in early 1994 and then restructured our overseas organization, consisting of manufacturing, sales, and marketing. We ended up with a separate company called Uroplasty. Uroplasty's main product is Macroplastique (R), which is an injectable soft tissue bulking material for the treatment of stress urinary incontinence."
He explains, "Macroplastique is designed to treat stress incontinence. It's a very, very large market - billions of dollars worldwide. Coming out of Chapter 11, we had limited resources in both capital and personnel. We elected to pursue Europe and other markets outside of the United States and to focus our limited resources on obtaining a CE Mark for Macroplastique and its necessary components in Europe. We raised capital last year through a private placement which netted about $3.3-$3.4 million. That money is earmarked for the regulatory process in the United States, which we are beginning now."
Looking forward, he states, "Although Macroplastique is not currently available in the U.S., its future in this market will be significant. An IDE (Investigational Device Exemption) submission to the U.S. Food and Drug Administration to begin U.S. clinical trials with Macroplastique is expected in 1999. The growth potential is very strong and, of course, the U.S. will be the largest market for us. We currently have very good growth in the European market."
To read the complete interview, go to http://www.twst.com/ceos.htm. The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.
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