MINNEAPOLIS, Sept. 08, 2016 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ: SKLN ) (“Skyline” or “the Company”), developer of the innovative STREAMWAY® waste fluid disposal system for medical applications, announces the appointment of Paul Sweetnam, Ph.D. to the Company’s Medical Advisory Board (MAB). Dr. Sweetnam brings to Skyline’s MAB more than 25 years of executive and entrepreneurial experience in the pharmaceutical and biotechnology industries. In addition, Dr. Sweetnam has established an extensive network of scientific collaborators within academia, the government and industry.
Skyline Medical’s MAB was formed in July 2013 and provides guidance and advice to the Company to support its product development goals. Including Dr. Sweetnam, the MAB has five members.
“We are delighted that a scientist of Dr. Sweetnam’s stature has agreed to join our MAB,” said Dr. Carl Schwartz, chairman and interim chief executive officer of Skyline Medical. “His impressive credentials include a track record of identifying and integrating disruptive technologies such as high-throughput and profile screening into the drug discovery and development process. We are looking forward to being able to leverage Dr. Sweetnam’s capabilities as we explore the use of the STREAMWAY System filter as a method of sample collection for rapid diagnostics and biomarker identification in the operating room.”
Dr. Sweetnam is the founder of CellBridge, LLC, a partnership between Nano Terra Life Sciences, where he previously served as Chief Technology Officer, and the United States Biological Corporation. CellBridge was organized to investigate three-dimensional cell-based assays for drug development and personalized medicine applications, and Dr. Sweetnam is leading a Department of Defense-funded initiative to develop novel treatments for peripheral nerves. He also currently serves on the External Advisory Board of the Graduate School of Biomedical Science and Engineering at the University of Maine.
Earlier in his career Dr. Sweetnam was Chief Scientific Officer of Surface Logix, a drug development company founded by renowned Harvard scientist Prof. George M. Whitesides. Dr. Sweetnam’s work with Prof. Whitesides’ portfolio included microfluidics, soft lithography and cell biology. Dr. Sweetnam also has worked at Bayer Healthcare as Vice President of Research Technologies and at Pfizer as Manager in the Drug Pfinder Department of Research Licensing and Operations, among others positions.
A classically trained neurobiologist with a strong background in biochemical and cellular biology as well as in vivo pharmacology, Dr. Sweetnam has received numerous fellowships and awards, and has published more than 35 papers and 75 abstracts. He received a B.S. in biology from the University of Maine, a Ph.D. in neurobiology from Georgetown University and was a post-doctoral fellow in neuropharmacology in the Department of Psychiatry at the Yale University School of Medicine.
About the STREAMWAY System
Skyline's revolutionary, FDA-cleared STREAMWAY system is the first true direct-to-drain fluid disposal system designed specifically for medical applications, such as radiology, endoscopy, urology and cystoscopy procedures. It connects directly to a facility's plumbing system to automate the collection, measurement and disposal of waste fluids. As of June 30, 2016, Skyline Medical customers have installed 94 STREAMWAY systems in 50 facilities across 19 states.
The STREAMWAY minimizes human intervention for better safety and improves compliance with Occupational Safety and Health Administration (OSHA) and other regulatory agency safety guidelines. It also provides unlimited capacity for increased efficiency in the operating room, which leads to greater profitability. Furthermore, the STREAMWAY eliminates canisters to reduce overhead costs and provides greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the U.S. For a demonstration please visit www.skylinemedical.com or call 855-785-8855.
About Skyline Medical Skyline Medical produces a fully automated, patented, FDA-cleared waste fluid disposal system that virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious fluids found in the healthcare environment. Antiquated manual fluid handling methods that require hand carrying and emptying filled fluid canisters present an exposure risk and potential liability. Skyline Medical's STREAMWAY System fully automates the collection, measurement and disposal of waste fluids and is designed to: 1) reduce overhead costs to hospitals and surgical centers; 2) improve compliance with OSHA and other regulatory agency safety guidelines; 3) improve efficiency in the operating room, and radiology and endoscopy departments, thereby leading to greater profitability; and 4) provide greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills each year in the U.S. For additional information, please visit www.skylinemedical.com .
Forward-looking Statements Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance; if our product is not accepted by our potential customers, it is unlikely that we will ever become profitable, adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, which are available for review at www.sec.gov . This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. See the Company's most recent Annual Report on Form 10-K, and subsequent reports and other filings at www.sec.gov .
Contacts: LHA Kim Sutton Golodetz kgolodetz@lhai.com 212-838-3777 or Bruce Voss bvoss@lhai.com 310-691-7100
