BioDrain Medical, Inc. Is Eligible for Trading on the OTCBB, Notice of Allowance on Canadian Patent Application

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.

About BioDrain Medical, Inc.

BioDrain Medical, Inc. has a fully automated, patented, FDA cleared, surgical fluid management system that virtually eliminates operating room workers' exposure to blood, irrigation fluid and the related germs, viruses and diseases that are potentially found in the surgical environment.  Today's manual surgical fluid handling methods of hand-carrying filled surgical fluid canisters and emptying these canisters is an exposure risk and an antiquated approach to the handling of surgical fluid waste.  BioDrain's Streamway™ system fully automates the collection, measurement and disposal of surgical fluids resulting in: 1) reducing overhead costs to hospitals and surgical centers, 2) improving the Occupational State and Health Association (OSHA) and other regulatory compliance, and 3) improving the efficiency of the operating room (and thereby making surgeries more profitable).

BioDrain's Streamway System is eco-friendly as it contributes to cleaning up the environment. Currently, approximately 50 million bloody, potentially disease infected, canisters go to landfills annually in the United States. These tainted canisters can remain in landfills for years to come.  With the installation of BioDrain's Streamway system, the number of canisters can be significantly reduced.  BioDrain Medical, Inc. makes the operating room and our environment safer, cleaner, and better.  BioDrain products are currently being represented by approximately 30 independent professional sales representatives that cater to the needs of hospitals and ambulatory surgical centers across the country.  Learn more about BioDrain Medical, Inc. by visiting www.biodrainmedical.com.

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SOURCE BioDrain Medical, Inc.