Precision Medical Devices, Inc. Obtained Its First U.S. Federal Grant

Fort Lauderdale, FL, January 05, 2012 --(PR.com)-- Precision Medical Devices, Inc. (PMD) has just received notification that it is the recipient of a grant from the federal program known as the Qualified Technology Development Program (QTDP), set up to fund promising technology companies which may result in significant job creation in the near future, given their technology reaches the commercialization phase.

The initial grant tranche is $244,479 with the possibility that this QTDP program will receive additional funding in 2011, wherein the current recipients will receive additional funding tranches up to the total amount applied for (up to $2.1 million in the case of PMD).

The grant was awarded to assist the Company in pursuing the continued development of its patented, revolutionary technology designed to optimally treat severe urinary incontinence (UI).

The Company’s flagship product is an implanted bionic, telemetrically-controlled, electro-mechanical valve that surrounds the human (or animal) urethra, which is capable of adjusting the amount of closing pressure exerted on the vessel at the discretion of the attending physician.

This device is expected to become the first-ever such product to be applied to the treatment of UI, while the technology is further expected to have utility in the treatment of other significant medical conditions, including, but not limited to; the treatment of fecal incontinence and morbid obesity, as well.

The Company has already proceeded through most of its prototyping phases, having already demonstrated a “proof of concept” in its earlier implant tests, and will use the new funding to continue to pursue all of its current operational goals.

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