Advanced BioMedical Technologies Inc. Begins Phase II Animal Test on PA Miniscrews and Plates
Published: Nov 16, 2009
GUANGZHOU, CHINA and MIDDLETOWN, NY--(Marketwire - November 16, 2009) -
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.
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.
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