BioDrain Medical, Inc. Is Eligible for Trading on the OTCBB, Notice of Allowance on Canadian Patent Application
PR Newswire “Press Releases US – English”
MINNEAPOLIS , Jan. 5, 2011 /PRNewswire/ — BioDrain Medical, Inc. (OTC Bulletin Board: BIOR), producer of the FDA cleared Streamway system for automated surgical fluid disposal, announced today it is eligible for trading on the Over The Counter Bulletin Board (OTCBB).
The company was admitted to the OTCBB early in 2010 but lost this eligibility as a result of their OTCBB market maker going out of business. For the last several months the stock has continued to trade on the OTC Pink Markets, in the OTCQB segment, and will continue to trade in the OTC Pink Markets as well as the OTCBB. “We are pleased to be re-admitted to the OTCBB,” said Kevin Davidson , CEO of BioDrain Medical . “We believe this is a positive development for our investors as it expands the number of broker/dealers who will process trades and potentially increase the liquidity in our stock.”
The company also announced they had received a Notice of Allowance for their Streamway system from the Canadian patent office and expect the Canadian patent to be issued in the near future. “We continue to invest in expanding our intellectual property portfolio both in the United States and in foreign markets. The technology inherent in our Streamway system is a differentiating advantage for us,” said Kevin Davidson .