Message #16 From:
NewsBot Date: January 11, 2007 05:00:00 AM
IOPM News IntraOp Medical Announces $1.2 Million Financing
SUNNYVALE, Calif.--(BUSINESS WIRE)--IntraOp Medical Corporation (OTCBB:IOPM) announced today that it closed
a $1.2 million financing to provide a portion of the additional capital
it requires to fulfill its backlog commitments and its expected order
growth for the year.
Donald A. Goer, Ph.D., President and CEO of Intraop, stated "Prospects
for FY2007 are extremely strong. We require this financing to fulfill
our order backlog and to prepare for the additional orders we expect.
During the next four months, we expect to complete the last phase of our
financing to allow us to ramp up to multi-unit per month production to
meet our projected demand."
The Company recently reported $5.98 million in sales for the fiscal year
ended September 30, 2006, with an operating loss of $2.43 million and a
net loss of $7.16 million. The fourth quarter had sales of $3.67
million, with break even operations and a net loss of $1.14 million.
About IntraOp
IntraOp Medical Corporation provides innovative technology solutions for
the treatment and eradication of cancer. Founded in 1993, IntraOp is
committed to providing the tools doctors need to administer
intraoperative radiation therapy safely and effectively –
for all cancer patients. The company’s
flagship product, Mobetron, is the first fully portable, self-shielding
intraoperative electron radiation therapy device designed for use in any
operating room. Key Mobetron benefits include: increased survival rates,
better local tumor control, shorter treatment cycles, and fewer side
effects. Leading hospitals, from university research centers to
specialized cancer clinics in North America, Europe and Asia, use
Mobetron as a vital part of their comprehensive cancer program.
For more information on IntraOp Medical Corporation, please visit www.intraopmedical.com
Forward-Looking Statements
This press release may contain "forward-looking statements" within
the meaning of Section 27A of the 1933 Securities Act and Section 21E of
the 1934 Securities Exchange Act. Actual results could differ
materially, as the result of such factors as competition in the markets
for the company's products and services and the ability of the Company
to execute its plans. By making these forward-looking statements, the
Company can give no assurances that transactions described in this press
release will be successfully completed, and undertakes no obligation to
update these statements for revisions or changes after the date of this
press release.
