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Intraop Line of Credit Increased to $4 Million
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SUNNYVALE, Calif. (BUSINESS WIRE) June 5, 2006 Intraop Medical Corporation (OTCBB: IOPM) has arranged to increase its line of credit with E.U.C. Holding and E.U. Capital Venture, Inc. from $3 million to $4 million. The line of credit will be used to finance inventory and orders for Intraop's proprietary Mobetron® system, a mobile electron-beam device designed for intraoperative radiation therapy (IORT). In conjunction with the increase, Intraop issued a warrant to purchase 192,308 shares of its common stock at a price of $0.52 per share. "The increased line will allow us to ramp up production to meet the increasing demand for the Mobetron and IORT," said Donald Goer, President & Chief Executive Officer of Intraop. "We are pleased that E.U. Capital has shown confidence in our growing business by increasing our line of credit. The increase will be very useful in helping us meet our production commitments." About IntraopIntraOp Medical Corporation provides innovative technology solutions for the treatment and eradication of cancer. Founded in 1993, IntraOp is committed to providing the tools doctors need to administer intraoperative radiation therapy safely and effectively - for all cancer patients. The company's flagship product, Mobetron, is the first fully portable, self-shielding intraoperative electron radiation therapy device designed for use in any operating room. Key Mobetron benefits include: increased survival rates, better local tumor control, shorter treatment cycles, and fewer side effects. Leading hospitals, from university research centers to specialized cancer clinics in North America, Europe and Asia, use Mobetron as a vital part of their comprehensive cancer program. Forward-looking StatementsThis press release may contain "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as competition in the markets for the company's products and services and the ability of the Company to execute its plans. By making these forward-looking statements, the Company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release. |