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Posted: SEPT 25, 2007
CSMG
Technologies Forms Cosmetic Surgery Subsidiary under
Live Tissue Connect
Corpus Christi, TX, September 25, 2007 -- CSMG Technologies,
Inc., (OTCBB: CTUM
- News),
a technology management company, announced today the
company has added a procedure specific, Cosmetic Surgery
subsidiary to the five medical procedure specific subsidiaries
wholly owned by its Live Tissue Connect, Inc. ("LTC")
subsidiary.
The new subsidiary for cosmetic surgery (Aesthetic
Tissue Welding, ATW), is added to the five already existing
subsidiaries established in May 2007 for:
- Gynecology and General Surgery (GSG Medical Group)
- Orthopedics & Arthroscopy (Orthopedic Tissue
Sciences)
- Colon Rectal Surgeries (Colorectal Connection Management)
- Pulmonary/lung (Pulmonary Sealing Sciences)
- Urology (Urological Tissue Welding)
Donald S. Robbins, President and CEO of CSMG, said,
"We believe this cosmetic surgery subsidiary will
be one of the most profitable and successful subsidiaries
of LTC. All six of our LTC subsidiaries have strong
market opportunities, but cosmetic surgery is often
elective surgery, thus attracting a higher premium for
procedures where faster healing and little or no scarring
is concerned. We will continue to isolate procedures
and products for specific medical specializations."
"Now that final development of our first series
of disposable instruments and electro surgery generator
are almost completed, and having filed with the US FDA
for our duct and vessel sealer, we are attracting interest
from many qualified medical device companies and distributors
who want to represent, license or market some area of
the LTC product. Each of the LTC wholly owned subsidiaries
represent a unique manufacturing, marketing or licensing
opportunity. We are excited over this unique opportunity
and I believe this approach adds considerable value
to the company," added Mr. Robbins.
LTC's Frank D'Amelio added, "The Aesthetic market
is one of the fastest growing markets today. This LTC
division will be focused on the development of disposable
instruments and associated electrosurgical generators
to allow the fusing/welding together of tissue. Preliminary
lab and clinical work on cosmetic epidermis tissue is
on-going and shows great promise."
CSMG owns the technology and exclusive world rights
to the live tissue bonding device through Live Tissue
Connect, Inc., a subsidiary corporation formed for the
development and commercialization of the platform technology.
LTC has almost completed hand instruments, electrocautery
generator and other electrosurgery components for the
duct and vessel sealing system, meeting FDA and European
CE Mark requirements, respectively.
About CSMG Technologies' Tissue Welding/Bonding
Technology
The LTC tissue bonding / welding device is a platform
technology that bonds and reconnects living soft biological
tissue through fusion without the use of foreign matter
in contrast with conventional wound closing devices
such as sutures, staples, sealant, or glues.
Surgeons at 27 Ukraine hospitals and clinics are using
the tissue welding/bonding technology in clinical trials.
They have completed more than 8,000 human surgeries
using more than 80 types of open and laparoscopic surgical
procedures, demonstrating the technology is universal
in its ability to repair soft biological tissue. These
surgeries included lung, neuro-surgery, nasal septum,
intestine, stomach, skin, gall bladder, liver, spleen,
blood vessels, nerves, alba linea, uterus, bladder,
gynecological, fallopian tube, ovary and testicles and
dura-matter. Cosmetic surgeries conducted with this
technology include breast reduction, breast implants,
mastopexy and abdominoplasty. The procedure involves
little or no scarring, while restoring the normal function
of the body organ or tissue.
The technology was invented and developed at the internationally
renowned E.O. Paton Institute of Electric Welding, National
Academy of Sciences of Ukraine, Kiev, Ukraine, headed
by Professor B.E. Paton. U.S., Australian, Canadian
and European Union patents have been issued, and additional
U.S. and foreign patents are pending, all owned by LTC.
About CSMG Technologies, Inc
CSMG Technologies is a technology management company
that finances, owns, develops, licenses and markets
innovative advanced technologies and business opportunities
created in the Ukraine through a network of scientific
institutes and private organizations. CSMG is focused
on two primary subsidiaries, Live Tissue Connect, Inc.
and landfill gas processing.
For further information on CSMG Technologies and its
various subsidiaries, please visit our website at www.csmgtechinternational.com.
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This press release may contain forward-looking
information within the meaning of Section 21E of the
Securities Exchange Act of 1934 as amended (the Exchange
Act), including all statements that are not statements
of historical fact regarding the intent, belief or current
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CONTACT:
CSMG Technologies, Inc.
Donald S. Robbins, President and CEO
361-887-7546
or
K. Bruce Jones, 770-955-0409
or
ROI Group Associates, Inc.
Michael Dodge, 212-495-0744
mdodge@roiny.com
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