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SafeStitch Medical, Inc.; Name Changed from Cellular Technical Services Company.

Company to Have New Stock Symbol and Continue to Develop and Market Endoscopic and Minimally Invasive Surgical Devices

MIAMI -- The shareholders of CTSC voted to approve a name change to SafeStitch Medical, Inc. SafeStitch Medical is now a publicly-traded medical device company developing endoscopic and minimally invasive surgical devices. SafeStitch Medical's trading symbol (OTCBB:CTSC), will be changing too. SafeStitch Medical is headquartered in Miami, Florida, and has a research and development office in Omaha, Nebraska. It intends to apply to have its shares listed on the American Stock Exchange (AMEX).

"We are very pleased to keep the SafeStitch name, as it is already respected in the medical community," says Dr. Phillip Frost, SafeStitch Medical's largest shareholder.

In addition to its seasoned executive team consisting of Dr. Jane Hsiao, Chairman, Jeffrey Spragens, CEO and President, Dr. Stewart Davis, COO, and Dr. Charles Filipi, Medical Director, SafeStitch Medical has hired Christian Martin to oversee Product Development and Mario Arbesu to oversee Quality Assurance and Regulatory. Mr. Martin has over 17 years of engineering experience including endoscopic devices and Mr. Arbesu has over 13 years of engineering, quality and regulatory experience including endoscopic devices.

SafeStitch Medical's product portfolio includes a device for endoscopic bariatric surgery (obesity surgery) and endoscopic repair of gastroesophageal reflux disorder (GERD), as well as an endoscopic device for excision and diagnosis of Barrett's esophagus. The company also plans to market a novel standard bite block, as well as the first airway bite block, to be used during endoscopy, and is pioneering the Smart Dilator for esophageal strictures. SafeStitch Medical also intends to develop products for hernia repair and natural orifice transluminal endoscopic surgery (NOTES).

As we continue to work with Creighton University in Omaha, Nebraska, SafeStitch has exclusive licenses for over 22 patents and patent applications.

More detailed information on each of our products can be found below.

Our short term plans are:

* FDA Registration of standard and airway bite blocks (We believe that these are Class I, exempt devices which do not require FDA Approval)

* Continued Product Development of gastroplasty device for obesity and GERD

* Manufacturing of gastroplasty devices for clinical trials and engineering (performance, validation) testing

* Feasibility trial of gastroplasty device and commencement of multicenter US and international trials

* Continued product development of Barrett's Excision Device

* Final product development of Smart dilator and application for FDA approval (Class II, 510(k))

* Initial marketing and commercialization of standard and airway bite blocks and Smart dilator

* IRB clinical evaluation trials for standard and airway bite blocks and Smart dilator

* Early development efforts on hernia device and NOTES devices, of which we have existing intellectual property and licenses

Intraluminal Gastroplasty Device for Obesity ("Obesity Device")

The Obesity Device is designed to perform incision-less, endoscopic bariatric surgery. Bariatric surgery is generally performed through an external abdominal incision, and sometimes laparoscopically. The traditional surgery has the potential for significant complications, requires an in-patient hospital stay and is expensive. The Obesity Device is introduced through the mouth and esophagus and works by suctioning two sides of the stomach lining into position for suturing, impaling the mucosa or stomach lining, placing a row of sutures through the two sides of the stomach, as commonly done during gastric surgery, injecting adrenaline into the mucosa to elevate it for excision, excising the top layer of the entrapped stomach wall, releasing this tissue, removing the device and tightening the sutures. We believe that this device will result in significantly less complications and expense, both because of the manner in which the procedure will be performed and the reduced recuperation time.

Intraluminal Gastroplasty Device for GERD (the "GERD Device")

The GERD Device contains the same features as the Obesity Device and is designed to promote healing at the gastroesophageal junction to prevent acid reflux. In GERD patients, the esophageal junction does not close completely and acid or bile from the stomach enters the esophagus. Both the hydrochloric acid or bile from the stomach can damage the esophagus. Typically, surgery is performed through either an external abdominal incision, or laparoscopically. The traditional surgery has the potential for significant complications, requires a two-three day inpatient hospital stay and is expensive. The GERD Device is inserted through the mouth and esophagus until it reaches the esophageal junction, the opening at the bottom of the esophagus that connects the esophagus to the stomach. The GERD Device sutures the esophageal junction to make it smaller. Usually two to four stitches are necessary on one or both sides of the esophageal junction. The benefits are similar to those of the Obesity Device. We believe that this device will result in significantly more effective treatment and less complications and expense and will permit the procedure to be performed on an outpatient basis.

Barrett's Excision and Ablation Device for Treatment and Diagnosis ("Barrett's Device")

The Barrett's Device is the only device we are aware of designed to assist in both diagnosis of and treatment of Barrett's Esophagus. Barrett's Esophagus is the lining of the esophagus that imitates the stomach mucosa, beginning at the esophageal junction and migrating upward. Barrett's esophageal tissue is pre-cancerous and can result in difficulty in swallowing, spreading malignancy and death.

Existing treatments include medication, laposcropic surgery and cauterization. The Barrett's Device allows the mucosa to be suctioned, sliced off and tested. The device also allows for cauterization of the affected area. If the Barrett's Esophagus covers all four quadrants of the esophagus, at least two procedures are necessary, each covering up to one half of the circumference, as a 360[deg] excision would create a stricture that would cause difficulty swallowing. We expect that the procedures will be done two months apart. No incision is required, and the procedure will be an outpatient procedure. We expect this device to be more effective and less costly than existing procedures.

SMART Dilator

Dilators are used when an endoscopy demonstrates the narrowing of the esophagus. Narrowing may be treated by medication for GERD or by using a dilator to expand the esophagus. Studies indicate that there are approximately 10,000 perforations of the esophagus per year resulting from dilation. According to peer-reviewed literature, dilation results in a 0.5-1.0% perforation rate. Approximately 800,000 dilations are performed in the United States each year. Untreated perforation of the esophagus is fatal; usually within two days. Our testing has shown that there should be no greater than two pounds of pressure on the dilator. The Smart Dilator signals the physician as to how close he or she is to this amount of pressure through change in the color of the dilator handle from green to yellow to red. The Smart Dilator handle also locks in place when the pressure exceeds 2.5 pounds. While there are numerous dilators on the market, none provide a safety mechanism similar to what will be provided by the Smart Dilator. Disposable dilators range in price from $100-$250.

Standard Bite Block

A bite block is used to protect the endoscope used in transoral gastrointestinal procedures and is required in all such procedures. A number of bite blocks are on the market. Our Standard Bite Block provides a higher level of protection as it is less easily expelled from the mouth. The Standard Bite Block is designed with a bigger lip and slightly different aperture than other bite blocks.

Airway Bite Block

The Airway Bite Block has an oropharyngeal airway built into the bite block to assist patients with larger tongues or smaller throats, usually because of obesity, in breathing during an endoscopic procedure. The Airway Bite Block will come in two sizes.

T Fasteners for Upper GI Bleeding ("T Fastener Gun")

The T Fastener Gun delivers small metal fasteners at the end of an endoscope. We believe that our T Fastener Gun can provide full-thickness stomach wall suturing for control of gastric bleeding. Existing devices apply energy or clips that are often too superficial, resulting in rebleeding. The T Fastener suture end is tightened, and because it is full thickness bite, a larger amount of tissue will compress the bleeding vessel.

Novel Surgical Fasteners for Hernia Repairs and Other Surgical Procedures ("Surgical Fasteners")

This Surgical Fastener is an absorbable staple with a stapler for the repair of inguinal or groin hernias. The staples are utilized to fix mesh in place. The mesh helps prevent the recurrence of a hernia. The absorbable nature of the staples will reduce the incidence of chronic postoperative pain, which affects approximately 20% of patients. The staples will also decrease operative time as they are easier and faster to apply.

Novel Devices for Natural Orifice Transluminal Endoscopic Surgery ("NOTES")

Natural Orifice Transluminal Endoscopic Surgery or NOTES is a new method of operating in the abdominal cavity without making an incision in the abdominal wall. This surgery is also referred to as NO SCAR surgery. The natural orifices used in this type of procedure are the mouth and the rectum and, in females, the vagina. If the mouth is used, instruments are passed through this natural orifice out of the stomach and into the abdominal cavity.

NOTES includes surgeries for gallbladder removal, appendectomy, tubal ligation, removal of intestinal and reproductive organ cancer and hernia repair, all through the gastric or vaginal walls as indicated above. Surgery utilizing the NOTES approach requires stabilization of long flexible instruments and the organs to be operated upon. SafeStitch has a magnetic gallbladder retractor that would enable improved operative exposure for gallbladder removal as well as a method and istrument to open and close the gastrotomy necessary for NOTES.

This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), regarding product development efforts and other non-historical facts about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our filings with the Securities and Exchange Commission, as well as risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. We do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
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Publication:Business Wire
Date:Dec 5, 2007
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