, June 26, 2012
/PRNewswire/ -- Amarillo Biosciences, Inc. (ABI) (OTCBB: AMAR) today announced a plan to open its Asia Operations Center in Taipei, Taiwan
. This new center will enable ABI to increase its presence in Taiwan
in order to access growing markets in mainland China
and in other Asian countries.
Dr. Stephen Chen, ABI's Chairman & CEO, said, "This new Asia Operations Center will explore new business opportunities in Asia, seek licensing opportunities, and evaluate investment proposals. Interviews for its new staff will begin immediately in an effort to have the center fully operational in the third quarter of this year."
"The new staff will include a general manager, scientific and business administrators, and numerous project managers," Dr. Chen added.
The mission of the Asia Operations Center is fourfold. First, the Asia Center will introduce novel healthcare products and technologies from the U.S. into the Asian markets. Second, the Asia Center will be responsible for identifying and developing new strategic partners in the region. Third, the Center will be poised to seek out new sources of financing when the need arises. Fourth, the Asia Center will identify new healthcare products and technologies that can be brought into the U.S. from the Asian regions to be distributed by ABI.
About Amarillo Biosciences
Amarillo Biosciences, Inc. is a U.S. biotechnology firm operating in global partnership with Hayashibara Company, Ltd., a wholly-owned subsidiary of the Nagase Group, which also holds 4% of Amarillo Biosciences shares and has provided over $18 million in loans, grants and equity investments. The Company's primary focus is ongoing R&D into the use of low-dose, orally administered interferon as a treatment for a variety of conditions, including influenza, hepatitis C, chronic cough, and opportunistic infections in patients who are HIV positive. The Company has invested nearly $40 million to establish oral interferon as a therapeutic agent. The majority of those funds were invested in clinical trials in an effort to achieve FDA approval for interferon. Additional information is available on the web at http://www.amarbio.com/.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including uncertainties related to product development, uncertainties related to the need for regulatory and other government approvals, dependence on proprietary technology, uncertainty of market acceptance of oral interferon or the Company's other product candidates and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. In particular, see "Item 1. Description of Business" and "Item 7A. Qualitative and Quantitative Disclosures about Market Risk" of the Company's Form 10-K for the fiscal year ended December 31, 2011.
SOURCE Amarillo Biosciences, Inc.