BELLEVUE, Wash., May 30 /PRNewswire-FirstCall/ -- Ascentia Biomedical Corporation , a leading researcher and developer of efficacious pharmaceuticals, compounds and other products, announces that as a part of its new business model, Ascentia will purchase profitable dedicated clinical research organizations [CRO] and integrate them into a national branded research organization. The CRO will provide the capacity and resources to develop Ascentia’s preclinical contract research through Ascentia Biomedical Technologies, Inc.
CROs provide independent product development services primarily for the pharmaceutical, biotechnology and medical device industries. Companies in these industries outsource product development services to CROs in order to manage the product development process more efficiently and cost-effectively, and to maximize the benefits in time and profit of patient-protected products.
The company has a letter of intent to purchase its first profitable CRO located in the Southeastern U.S. Additional acquisition candidates have been identified and early discussions are in progress with company representatives. A successful conclusion to the first two acquisitions would provide Ascentia with annual profits of $5 MM. Ascentia working in concert with its investment banker and an international brokerage firm is finalizing the financial terms of the acquisitions.
Dr. James Clagett, President & CEO of Ascentia Biomedical said, “Ascentia’s drive for profitability enhances the short and long term goals of Ascentia. It provides access to additional investment capital in the future; resources to continue pharmaceutical development of its two key compounds for treatment of inflammatory diseases; and participation in more senior markets.”
About Ascentia Biomedical Corporation
Ascentia is a biomedical arbitrage and development company. Ascentia will purchase profitable clinical research organizations [CRO] and use their revenue streams to further the development of the core company and its products. Ascentia is developing and commercializing new pharmaceutical and biomedical products for application in a number of areas, including treatment for asthma, arthritis, psoriasis and cancer. Initially, a majority of these products will be secured through direct purchase or licensing. As the Company grows and evolves, more products will be developed internally. Ascentia is focused on therapies for cancer and diseases of inflammation.
For more information visit the Company’s website at: http://www.ascentiabiomedical.com
Certain statements contained herein are “forward looking” statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.
Ascentia Biomedical Corporation
CONTACT: Dr. James Clagett, President & CEO of Ascentia BiomedicalCorporation, +1-425-462-5686
Web site: http://www.ascentiabiomedical.com/
