NEW YORK, March 3 /PRNewswire-FirstCall/ -- Biocoral, Inc. (OTCBB:BCRA) (the "Company") announced today that recently, the Canadian Intellectual Property Office (CIPO) approved and granted a company patent called "Use of a Calcium Carbonate based porous material as Support for a Growth Factor." The patent was granted to Bio Holdings International Ltd., the Company's wholly owned subsidiary under the patent number 2,139,864. The patent will expire on May 11, 2014.
Biocoral(r), the Company's primary product, a natural coral "carbonate Calcium" derived bone graft substitute, is widely used by surgeons and practitioners because of its biocompatibility, resorbability, Osseo conduction and safety. The Company believed these qualities will be enhanced by its newly developed tissue engineering technique covered by the recently issued patent that deals with a method for treating a living organism and includes fitting in the living organism a bioabsorbable implant. The bioabsorbable implant includes a support of porous calcium carbonate based material for supporting at least one growth factor. The calcium carbonate based support material forms an external wall of the support for a growth factor.
Nasser Nassiri, the Chairman and Chief Executive Officer of Biocoral, Inc. commented, " The company's patent application in this application is now granted and issued in Canada after being granted and issued in Australia in 1997, United States of America in 1998, Japan in 1999, and in Europe in 2000 (which covers 17 Europeans countries). The application for this patent was filed in Canada in 1994 and was under examination there for more then ten years. The grant of this patent will protect the Company's technology and its primary product in this new application in Canada where the company is looking to develop its product."
Nasser Nassiri further commented that, "The Company believes that this newly patented technology can yield a number of possible clinical applications in the field of bone regeneration (orthopedics, oral and maxillofacial surgery). In addition the Company, through its subsidiaries, has developed ten additional patent titles for various applications and uses of its products, including among others osteoporosis remediation, autologous glue. With these ten additional patent titles applications in various countries in Europe, Switzerland, Canada, Japan, Australia, and the United States, the Company owns more than 165 patent applications around the world, approximately 105 of which have thus far been granted by various countries' by their official government patent offices, including most European Community countries, Switzerland, Canada, Japan, Australia, and in the United States by the US Department of Commerce Patent and Trademark office."
Biocoral, Inc., a Delaware corporation, is an international biomaterials "tissue-engineering" company specializing in the research and development of proprietary health care patented high technology and biomaterials. Through its subsidiaries, the Company researches, develops, manufactures and commercializes bone graft substitutes and other high technology patented biomaterials in a number of countries outside the United States.
This press release contains "forward looking" statements within the meaning of section 27A of the Securities Act of 1993, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the ability of the Company to develop and market products based upon its patented technology and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements. The information contained in this press release, including any "forward looking" statements, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are on file with the Securities and Exchange Commission.