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"We appreciate the continued support of our investors as we've surpassedmore than 30 placements in Ob-Gyn and primary care offices around thecountry," said Paul J. Fitzpatrick, chief executive officer of NeoMatrix."This fundraising has enabled us to hire our first sales representatives,expand our marketing team and to develop the infrastructure and marketingprograms required to drive awareness and adoption of the HALO system. It alsoallowed us to convert or retire 100% of the debt previously used to financethe research and development of both the HALO system and its broad patentprotection.
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"In addition to our initial success in placing systems in physicianoffices, we have also recently established relationships with a number ofbreast specialists and breast centers who have agreed to help introduce HALOto their local primary-care referral networks. Although gynecologists andother primary care physicians are responsible for breast cancer screening ofwell, or asymptomatic women, breast specialists, often practicing inmulti-specialty breast centers, assume responsibility for follow-up andtreatment of high-risk patients," added Fitzpatrick.
The Company also announced that Anthony Ciabattoni and Richard Franco havejoined the NeoMatrix Board of Directors. According to Kathryn Tunstall,NeoMatrix's chairman, "Our board has been significantly strengthened by theaddition of Tony and Richard. Each of them brings a wealth of operatingexperience and a set of valuable contacts that will benefit NeoMatrix as wecontinue to commercialize the HALO Breast Pap Test. I look forward to theiractive participation in the Company as we build market momentum and considerfuture financing to take the Company to profitability."
Anthony J. Ciabattoni is an entrepreneur with over 35 years of experience.He was the founder of Pacific Business Interiors, which became the largestdistributor of Steelcase office furniture in Southern California, and aleading facilities management service provider to Fortune 500 companies. Inaddition to serving as president and CEO of Pacific Business Interiors from1983 until its sale in 1996, Ciabattoni founded Recycled Office Solutions, are-manufacturer of office furniture systems in 1993. Since selling thosecompanies, he has been involved in a wide range of investments in the realestate, energy and private equity sectors. Ciabattoni serves as a member ofthe Board of Advisors for Waveland Capital Group, LLC, an investment bankingfirm that advises and raises capital for early stage medical technologycompanies, including NeoMatrix, LLC. Ciabattoni served as a director ofTranseastern Properties, a real estate development company recently acquiredby Technical Olympic USA, Inc. He received a bachelor's degree from theUniversity of Delaware.
Richard A. Franco, Sr. has been a leader in the lifescience and healthcare industries for more than 30 years. He currently serves as president andCEO and a director of DARA BioSciences, Inc., a private pharmaceuticaldevelopment company. From 1997 to 2002, Franco served as the Chairman of theBoard of LipoScience, Inc. where he served as co-founder, CEO and presidentfrom 1997 to 2001. From 1994-1996, he served as president, CEO and a directorof Trimeris Inc
