GUANGZHOU, CHINA and MIDDLETOWN, NY--(Marketwire - November 16, 2009) -
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.
