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ProUroCare Medical Secures $885,000 in Financing

Thu, 06/17/2010 - 6:35am
Bio-Medicine.Org

MINNEAPOLIS, June 17 /PRNewswire-FirstCall/ -- ProUroCare Medical, Inc. (OTC Bulletin Board: PUMD), a provider of proprietary imaging products, today announced that it has closed on a $885,000 private placement of debt financing.  The funding was provided by a small group of existing investors closely aligned with the company.  

The proceeds from the financing will be used to fund manufacturing and marketing scale-up activities, expand the company's existing intellectual property portfolio and form a scientific advisory board.  A portion of the funding will also be used to pay existing debt obligations and for general corporate purposes.

"This additional funding brings the total amount raised by the company since 2007 to more than $9.3 million," said CEO Rick Carlson.  "We are very pleased by the support that we continue to receive from investors for the ProUroScan™ prostate imaging system and the market opportunities that exist for this technology.  Our immediate focus is to ensure the successful processing of our de novo filing and the resulting FDA clearance for commercialization."

About ProUroCare Medical, Inc.

ProUroCare Medical, Inc. is a publicly traded company engaged in the business of developing innovative medical imaging products. The company's current focus is the ProUroScan prostate imaging system, which is used to document abnormalities of the prostate detected by a Digital Rectal Exam (DRE).  Based in Minneapolis, Minn., ProUroCare is quoted on the OTCBB.

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