In India there is large demand for high-quality medical devices made in North America. Pyng’s dominance in Sternal IO for deployed U.S. military will be leveraged into the Indian Military, EMS, and Hospital markets.

“The criterion for becoming a Pyng channel partner is quite rigorous. vTitian meets our high standards,” commented Robert Di Silvio, President and CEO of Pyng Medical.

In India, vTitan Corporation Private Limited becomes Pyng’s first exclusive distribution relationship. vTitan is engaged in the design, development, manufacture, distribution and sale of a broad range of medical devices and consumables used in global healthcare markets. Their international sales customer base encompasses government, military, public and private hospitals, and critical care services.

Robert Di Silvio, Pyng President and CEO, further commented “We are working closely with vTitan to bring Pyng’s life-saving products to the Asia-Pacific market and expect to see strong business from India”

About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front- line critical care personnel. Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools including the FAST1® Intraosseous Infusion System, the FASTx™ Sternal Intraosseous Device, the MAT® Tourniquet, the T-POD® Pelvic Stabilizer and the CRIC™ Cricothyrotomy System. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1® Intraosseous Infusion System, Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

The total sales for this quarter were $1,578,715, an increase of 14% compared to $1,385,177 for the same period of last fiscal year, which resulted from the greater shipments of products during this quarter. The gross margin was $1,075,565, up 11% compared to $972,948 for the same period of last fiscal year. Operating expenses for the three months ended March 31, 2010 rose to $1,350,593, a 22% increase from $1,110,875 for the same quarter of last fiscal year. The increase was primarily due to the increase in wages and benefits, professional fees, amortization on deferred product development costs, interest on convertible debenture and foreign exchange loss.

For the second quarter, the Company recorded net loss of $275, 028, or loss $0.02 per share, compared to a net loss of $137,926, or loss $0.01 per share for the same quarter of last fiscal year. Earnings before interest, depreciation, amortization and taxes (“EBITDA”) from continuing operations were loss $52,397 for the quarter ended March 31, 2010, compared to EBITDA of $14,573 for the same period of last fiscal year. The increase in operating expenses contributed to the majority of the increases in net loss for this quarter.
As at March 31, 2010, the Company had a cash balance of $164,090 and working capital of $224,137, representing an increase of $11,559 in cash and a decrease of $430,469 in working capital compared to the year ended September 30, 2009. The Company generated a negative cash flow of $42,274 from operating activities in this quarter which was mainly due to the increased cash outflow on the operating expenses.

During this quarter, the Company received regulatory clearance from Health Canada and European CE Mark to market its new products FASTx and CRIC. As a result, FASTx and CRIC are ready for sale in Canada, Europe and other countries which accept these regulatory agency approvals.

Full audited financial results for fiscal year ended September 30, 2009 are available on SEDAR at www.sedar.com.

About Pyng Medical Corp.

Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1® Intraosseous Infusion System, Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

The Company pursued FDA approval to market CRIC™ in the United States via 510(k) premarket notification. FDA determined CRIC™ to not be substantially equivalent to the predicate device (a legally marketed device in its category) used in the company’s submission and therefore is not eligible to be cleared for commercial distribution via the 510(k) process. Due to this result, Pyng intends to pursue a different path to FDA clearance and will resubmit CRIC™ for review after obtaining additional data and field-usage experience on the safety and efficacy of the product.

CRIC™ previously received the CE mark in Europe via the European Medical Device Directive 93/42/EEC, and has also been cleared by Health Canada and the Australian Therapeutic Goods Administration. As a result, CRIC™ is currently for sale in Europe, Canada, Australia and other countries which accept these major regulatory agency approvals.

CRIC™ is indicated for use in obtaining a surgical airway for patients where intubation is not an option and the product provides a rapid Cricothyroidotomy solution (including illumination) in a single compact device. Testing performed to date has indicated that CRIC™ delivers fast and effective airway access via this singular device as opposed to current methods which require several kit components.

Robert Di Silvio, Pyng President and CEO, commented “Previous clearance for commercial distribution of CRIC™ in Europe, Canada, Asia and South America will allow Pyng to grow in these international markets, where substantial opportunity exists, while working in parallel on FDA clearance in the United States.”

About Pyng Medical Corp.

Pyng Medical Corp. is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50” Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

Vancouver, BC - Pyng Medical Corp. (PYT: TSX .V) today announced the Company has received Australian TGA clearance for its new and improved FASTx™ Sternal Intraosseous Device, as well as its new and innovative CRIC™ Kit Cricothyroidotomy device, effective immediately.

The FASTx™ Sternal Intraosseous Device is indicated for use in establishing a Sternal Intraosseous access route in adult and adolescent patients (12 years of age and older) that require vascular administration of drugs or fluids to facilitate emergency resuscitation. FASTx™ Sternal Intraosseous Device is a rapid, reliable and safe alternative to conventional IV infusion providing lifesaving vascular access for fluid and drug resuscitation in shock and trauma victims. The Company’s lead clinical product has been re-engineered with an integrated, easy, pull-to-remove infusion tube, light and compact form factor made for single-handed use.

The CRIC™ provides a rapid Cricothyroidotomy solution including illumination in a single compact device.
“These improvements were implemented in direct response to feedback from Pyng’s key customers based on real life applications on the battlefield, Hospital, and EMS environments,” said Robert Di Silvio, President and CEO. “As part of our ongoing commitment to technology innovation we’ve achieved procedural efficiencies and further enhanced the ease-of-use for our market-leading FAST1™ Sternal Intraosseous Infusion System. We have now received Australian TGA, Health Canada and CE clearances for both the FASTx and CRIC™, and have submitted our application for FDA 510K clearance for our next generation FASTx Sternal Intraosseous Device,” adds Di Silvio.

About Pyng Medical Corp.

Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50 Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

At a Board Meeting held immediately following the AGM on March 9, 2010, Bob DiSilvio was appointed as President & Chief Executive Officer of the Company and George Dorin, CA was appointed as Chief Financial Officer and Corporate Secretary. The Company’s Audit and Finance Committee, and Compensation Committee were also reconstituted for the ensuing year. The Company’s Stock Option Plan dated March 18, 2005, as amended March 5, 2008, was also reapproved until the next AGM, subject to filing with the TSXV.

The Company also announced today that it issued 150,000 common share stock options to a Director on March 10, 2010 (the “Effective Date”). The options have a five year term and an issue price of $0.20 per share. 1/3 of the total number of options granted will vest six months after the Effective Date, a further 1/3 of the total number of options granted will vest twelve months after the Effective Date, and the remaining 1/3 of the total number of options granted will vest eighteen months after the Effective Date.

On behalf of the Board of Directors of Pyng Medical Corp.

“Kevin O’Neill”

Kevin O’Neill, Director
Pyng Medical Corp.

About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1® Intraosseous Infusion System, Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

Vancouver, BC - Pyng Medical Corp. (PYT: TSX .V) today announced the Company has received European CE Mark regulatory clearance to market its new and improved FASTx™ Sternal Intraosseous Device, in Europe effective immediately.

The FASTx™ Sternal Intraosseous Device is indicated for use in establishing a sternal intraosseous access route in adult and adolescent patients (12 years of age and older) that require vascular administration of drugs or fluids to facilitate emergency resuscitation.

FASTx™ Sternal Intraosseous Device is the most rapid, reliable and safe alternative to conventional IV infusion providing lifesaving vascular access for fluid and drug resuscitation in shock and trauma victims. The Company’s lead clinical product has been re-engineered with an integrated, easy, pull-to-remove infusion tube, light and compact form factor made for single-handed use.

“These improvements were implemented in direct response to feedback from Pyng’s key customers based on real life applications on the battlefield, Hospital, and EMS environments,” said Robert Di Silvio, President and CEO. “As part of our ongoing commitment to technology innovation we’ve achieved procedural efficiencies and further enhanced the ease-of-use for our market-leading FAST1™ Intraosseous Infusion System. We have now received both Health Canada and CE Mark approvals, and submitted our application for FDA 510K clearance for our next generation FASTx Sternal Intraosseous Device,” adds Di Silvio.

About Pyng Medical Corp.
Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50 Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

The total sales for this quarter were $1,585,684, compared to $1,633,985 for the same period last fiscal year and the gross margin was $1,132,906, compared to $1,165,152 in the same period last fiscal year. Operating expenses for the three months ended December 31, 2009 totaled $1,102,161, which was a decrease of $108,980 compared to $1,211,140 for the same quarter of last fiscal year. On a percentage basis, expenses decreased from 74% of sales for the quarter ended December 31, 2008 to 69% for the same period ended December 31, 2009.

Earnings before interest, depreciation, amortization and taxes (“EBITDA”) from continuing operations were $152,590 for the quarter ended December 31, 2009, compared to EBITDA of $109,027 for the same period last fiscal year. Net income for the three months ended December 31, 2009 was $30,717, an increase of $76,706 compared to a loss of $45,989 for the same quarter last year. The significant decrease in expenses was due to the Company’s continued efforts at costs saving and expense control.

The Company generated improved cash flows of $355,989 from operating activities in this quarter compared to -$209,528 in the three months ended December 31, 2008. As at December 31, 2009, the Company had a cash balance of $383,889 and working capital of $473,849, representing an increase of $565,517 in cash and $710,038 in working capital compared to the same quarter last year.

Full audited financial results for fiscal year ended September 30, 2009 are available on SEDAR.

About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Creators of the FAST1® Intraosseous Infusion System, Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from Life Sciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1®, the only medical device able to provide rapid sternal access for administering drugs and fluids to the heart in seconds. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006.

Pyng is the first company to offer an adult intraosseous infusion device, and continues to lead in resuscitation innovation with simple-to-use, and highly-effective products including FAST1® Intraosseous Infusion System, FAST1™ Intraosseous Infusion Device, T-POD® Pelvic Stabilizer, and MAT® Tourniquet.

“We have seen significant growth in our customer base and level of interest in our resuscitation products and solutions,” said Robert Di Silvio, President and CEO of the Pyng.” Our customers are expanding their commitment to our life-saving devices, and with that commitment, to support their efforts, we are expanding our local resources. The Kirkland office will allow us to deliver superior sales and support to our US customers and to the growing prospect base.”

The new office is located at:

Pyng Medical USA
5400 Carillon Point
Building 5000
4th Floor
Kirkland, Washington 98033
United States
Main tel: 425 576 4133
Main fax: 877 439 2707

About Pyng Medical Corp.
Pyng is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

For More Information

Pyng Medical Corp.
George Dorin, CFO
(604) 303-7964
www.pyng.com

The FASTx™ Sternal Intraosseous Device is indicated for use in establishing a sternal intraosseous access route in adult and adolescent patients (12 years of age and older) that require vascular administration of drugs or fluids to facilitate emergency resuscitation. FASTx™ Sternal Intraosseous Device is a rapid, reliable and safe alternative to conventional IV infusion providing lifesaving vascular access for fluid and drug resuscitation in cardiac, shock and trauma victims. The Company’s lead clinical product has been re-engineered with an integrated, easy, pull-to-remove infusion tube, light and compact form factor made for single-handed use.

“These improvements were implemented in direct response to feedback from Pyng’s key customers based on real life applications on the battlefield, Hospital, and EMS environments,” said Robert Di Silvio, President and CEO. “As part of our ongoing commitment to technology innovation we’ve achieved procedural efficiencies and further enhanced the ease-of-use for our market-leading FAST1® Intraosseous Infusion System. We have also submitted our application for European CE Mark and FDA 510K clearance for our next generation FASTx™ Sternal Intraosseous Device,” adds Di Silvio.

About Pyng Medical Corp.
Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1® Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1® has worldwide application for use with hospitals, emergency medical services and military forces.