NEW YORK, NY and SHENZHEN, CHINA--(Marketwire - May 26, 2011) - Advanced BioMedical Technologies Inc. (OTCQB: ABMT) (PINKSHEETS: ABMT), developer and manufacturer of orthopaedic internal fixation devices, is pleased to announce the formation of its advisory board. The Board will be comprised of John R. Harrington Jr., Lamont Woody, Donald Varshine and Frank Pelaia. The Board will advise the Company regarding its business direction and investor relations.
John R. Harrington Jr., chairman of the advisory board, has 45 years experience in the banking industry. His experience has included being Chief Investment Officer, Vice President, Senior Trust Officer and Department Manager. Mr. Harrington was also the Chairman of the Board of a publicly traded manufacturing company with operations in the United Kingdom, France, China and the United States. He was the founder of Harrington Capital Management, a private investment company responsible for analyzing investment portfolios. Mr. Harrington is currently serving as Senior Management Director of Arista Capital Management, LLC, with responsibilities for operations. He also acts as Board Member on various not-for-profit organizations and currently a member of the Finance Committee of the Irish American Heritage Centre in Chicago.
Lamont Woody is a Principal at The Laconia Group, a team of national security experts with experience spanning the breadth of the defence, intelligence, homeland security, and law enforcement communities, including the defence contracting industry. Mr. Woody has served in leadership positions in the USAF and US Army, culminating as an Army Colonel, serving as the Deputy Director in the Counter IED Operations Integration Center, Joint IED Defeat Organization. He understands operational information and logistics integration ranging from military Special Operations rapid insertion to conventional peacekeeping and national recapitalization. He has trained, equipped, and led military support missions to Iraq, Afghanistan, Bosnia, Cuba, Cambodia, Panama, and Somalia. He knows how to successfully build enduring, adaptable, and innovative organizations from the bottom up. Mr. Woody holds masters degrees in National Security Strategy, Education, and Military Arts and Sciences.
Donald Varshine is the former president of a top 100 logistics company in the U.S. Mr. Varshine was appointed chairperson of American Lighting Logistics Group, a national association within the lighting industry. He represented ALA as their national spokesperson at the National Motor Freight Traffic Group Hearings in Washington D.C. In addition, he has spoken at National Industry Trade Conference on the "Competitive Position of Logistics." He has high visibility in the logistics industry setting up distribution networks for companies like Genlyte Thomas, Thomas & Betts, and H. J. Heinz. His background in this area is a major asset to the Company. Mr. Varshine has also sat on numerous boards and is the former executive board member of the National Association of Small Shippers Traffic Conference.
Frank Pelaia is a former President of Francor Enterprises LLC. His positions included regional sales manager for Fel Pro Inc, national presenter in automotive aftermarket industry and held sales management positions with Lockwook-Abriola Inc, and manager for J.C. Penny Co and Pittsburgh National Bank. Mr. Pelaia has set on numerous advisory boards throughout his 33 year military career serving as a US Army Officer. Mr. Pelaia is also a former executive board member of Integrated Logistics.
ABT hopes to make further announcements about the formation of its Scientific Advisory Board in this quarter.
About Advanced Biomedical Technologies Inc. (OTCQB: ABMT)
Advanced Biomedical Technologies, Inc. is a revolutionary new biotech company. The company's primary product line includes internal fixation devices consisting of high grade polymers (polyamide - "PA") which allow the body to degrade the products during the healing process. During that healing process, these products also stimulate new bone growth that replaces the degrading device and leaves newer, stronger bone in the exact location of the injury; thus making the site of the injury stronger and more resistant to recurring damage. These products provide an alternative to metal implants and overcome the limitations of other re-absorbable fixation devices.
The products and materials that the Company has created differ from existing products (titanium/stainless steel) being marketed today by:
- the ability to control the speed that the device degrades; therefore improving upon the healing time.
- eliminating the need for a second surgery to replace device due to infection or other post-operative complications.
- the capability of being evenly absorbed from outer layer inwards, so that it gives enough restoration time for bone healing and re-growth.
This release contains forward-looking statements which are made pursuant to provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements in this release, including statements relating to regulatory and business strategies, plans and objectives of management and growth opportunities for existing or proposed products, constitute forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. The risks and uncertainties include, without limitation, risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured, we may lack financial resources to complete development or marketing of our products, government regulatory agencies may interpret the results of studies differently than us, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends, our continuing efforts to develop bone fixation devices may be unsuccessful, our common stock could be delisted from the over-the-counter market, and other risks and challenges detailed in our filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.