CHAPEL HILL, N.C., Dec. 22, 2014 /PRNewswire/ -- Alternative
Energy & Environmental Solutions, Inc., (USOTC: ALNE) today
announced that it has signed a letter of intent to acquire
BioTechPharma Corporation, a biotechnology company that has
developed and patented a nanotechnology-based development platform
used to create drug monitoring and medical diagnostics products
that enable rapid on-site collection and testing to identify
infectious disease, drug and alcohol use/abuse and health issues in
an immediate, non-invasive and cost-effective manner.
According to the Letter of Intent, ALNE plans to acquire 100
percent equity of BioTechPharma, resulting in BioTechPharma
becoming a wholly owned subsidiary of ALNE. BioTechPharma's
management team, headed by founder and Chief Executive Officer
Rauof Guirguis, Ph.D., will be
responsible for ALNE's day-to-day operations following the
reorganization.
The new ALNE organization plans to continue the BioTechPharma
business plan to create and commercialize innovative medical and
drug diagnostics tools based on its patented nanotechnology
development platform. The company will focus on testing and
diagnostics devices for cardiac, lipid, cancer, metabolic, diabetes
and genetic diseases as well as detection for nutritional and
environmental health issues.
BioTechPharma is primarily in the research and development phase
for a broad range of drug monitoring and medical diagnostics
products. The company has reported 2013 sales of approximately
$7 million and projects 2014 total
revenues to exceed $10 million.
About Alternative Energy & Environmental Solutions,
Inc.
Alternative Energy and Environmental Solutions, Inc. (ALNE) was
originally formed in 2010 to market an innovative new biotechnology
that utilizes nutrient stimulants — organic microbes — to extract
coalbed methane more efficiently in high production as well as low
producing, depleted and abandoned coalmines in the U.S.
About BioTechPharma
BioTechPharma was founded in 2005 to develop innovative medical
diagnostic tools that dramatically reduce the time and cost
associated with monitoring drug and medication use and testing for
a broad range of health issues and diseases. In 2006 BioTechPharma
designed and patented a nanotechnology-based development platform
on which to create products that provide one-step collection and
rapid on-site testing for drug use/abuse and detection of cancer,
infectious diseases and environmental and bio-defense
substances. The BioTechPharma platform is protected in the
U.S. by three key patents relating to sample collection and
nanotechnology inventions. BioTechPharma is headquartered in
Arlington, VA, and manufactures
its products in the U.S.
Safe Harbor Statement
The information provided may contain forward-looking statements
and involve risks and uncertainties. Results, events and
performances could vary from those contemplated. These statements
involve risks and uncertainties, which may cause actual results,
expressed or implied, to differ from predicted outcomes. Risks and
uncertainties include product demand, market competition, and the
Company's ability to meet current or future plans. Investors should
study and understand all risks before making an investment
decision. Readers are recommended not to place undue reliance on
forward-looking statements or information. The Company is not
obliged to publicly release revisions to any forward-looking
statement, to reflect events or circumstances afterward, or to
disclose unanticipated occurrences, except as required under
applicable laws.
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SOURCE Alternative Energy & Environmental Solutions,
Inc.
