Advanced BioMedical Technologies Inc. Begins Phase II Animal Test on PA Miniscrews and Plates
November 16 2009 - 12:04PM
Marketwired
Advanced BioMedical Technologies Inc. (OTCBB: ABMT) announced that
the Company's subsidiary, Shenzhen Changhua Biomedical Engineering
Co., Ltd. ("ABT-CHANGHUA"), has signed a cooperative agreement with
The First Affiliated Hospital of Guangdong Pharmaceutical
University ("GDPU Hospital") in Guangzhou. Under this cooperative
agreement, both parties will join efforts in conducting research
and animal tests on Cranio-Maxillofacial Fracture Treatment and
Craniofacial Reconstruction utilizing ABT-CHANGHUA's novel patented
PA (Polyamide) bio-absorbable material.
ABT-CHANGHUA will produce sample PA bio-absorbable miniscrews
and plates for research and animal test; GDPU Hospital will conduct
research and animal testing, and a Phase II clinical trial for this
new indication. The program will provide safety and efficacy data
and provide further validation for the application of PA
bio-degradable miniscrews and plates in Cranio-Maxillofacial
Fracture Treatment, Craniofacial Restoration and Cosmetic
Surgery.
The Company intends to apply to the SFDA (State FDA of China)
for Phase III clinical testing upon successful completion of its
Phase II program. Under the agreement, both parties will contribute
funding for the project but ABT-CHANGHUA has first right to file
patent applications.
"The Company's bio-degradable, bio-absorbable materials are
currently being applied to orthopaedic trauma treatment, and the
Company has been seeking opportunities and cooperative partners to
expand its potential use for a number of new medical procedures.
The cooperation with GDPU Hospital indicates that our PA products
and technologies are being recognized by Doctors and Specialists
from other medical fields. This has created another dimension in
the application of our PA bio-absorbable products and technologies.
The Company and the Hospital are working closely to ensure the
tests are conducted according to the SFDA guidelines and procedures
so we can rapidly advance into these new clinical trials," said Ms.
Wang Hui, CEO of Advanced BioMedical Technologies Inc.
About Advanced BioMedical Technologies Inc. (OTCBB: ABMT)
ADVANCED BIOMEDICAL TECHNOLOGIES INC. specializes in the
development and marketing of innovative biotech technologies. The
company's cutting edge orthopaedic internal fixation devices
consist of surgical screws, wires and rods which dissipate during
the healing process while stimulating new bone growth. The result
is stronger bone and increased resistance to recurring damage.
These products provide an alternative to metal implants and
overcome the limitations of other bio-absorbable fixation
devices.
About GDPU Hospital
The First Affiliated Hospital of Guangdong Pharmaceutical
University was found on Oct. 12, 1950, formerly named The Guangzhou
Railway Central Hospital. In Oct. 2004, the Hospital merged with
Guangdong Pharmaceutical University, one of the three independent
pharmaceutical universities in China, and became its subsidiary
hospital. In Sep. 2008, The Clinical Medical School of the
University was merged into GDPU Hospital. In 1993, the Hospital was
one of the first hospitals in China to be awarded the prestigious
"AAA" rating, the highest hospital rating in China. The Hospital is
one of the official clinical pharmacist education centres appointed
by the Ministry of Health of China.
Forward-Looking Statements
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities and
Exchange Act of 1933, as amended, and Section 21E of the Securities
and Exchange Act of 1934, as amended, and such Forward Looking
Statements are intended to be covered by the safe harbours created
thereby. Investors are cautioned that all forward-looking
statements involve risks and uncertainties.
All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effectiveness, profitability, and the marketability of the
Company's products; the Company's ability to protect its
proprietary information; general economic and business conditions;
the volatility of the company's operating results and financial
condition; and other risks detailed in the Company's filings with
the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: TRACY MOTT TEL: 914-213-5252 EMAIL:
tracy.mott@abtbiomedical.com INVESTOR RELATIONS: CHIMING YU TEL:
718-766-7898 EMAIL: chiming.yu@abtbiomedical.com KAI GUI TEL: (US)
845-746-4343 (UK) +44-20-7100 4288 EMAIL:
kai.gui@abtbiomedical.com
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