CHAPEL HILL, N.C., Dec. 22, 2014 /PRNewswire/ -- Alternative Energy & Environmental Solutions, Inc., (USOTC: ALNE) today announced that it has signed a letter of intent to acquire BioTechPharma Corporation, a biotechnology company that has developed and patented a nanotechnology-based development platform used to create drug monitoring and medical diagnostics products that enable rapid on-site collection and testing to identify infectious disease, drug and alcohol use/abuse and health issues in an immediate, non-invasive and cost-effective manner.
According to the Letter of Intent, ALNE plans to acquire 100 percent equity of BioTechPharma, resulting in BioTechPharma becoming a wholly owned subsidiary of ALNE. BioTechPharma’s management team, headed by founder and Chief Executive Officer Rauof Guirguis, Ph.D., will be responsible for ALNE’s day-to-day operations following the reorganization.
The new ALNE organization plans to continue the BioTechPharma business plan to create and commercialize innovative medical and drug diagnostics tools based on its patented nanotechnology development platform. The company will focus on testing and diagnostics devices for cardiac, lipid, cancer, metabolic, diabetes and genetic diseases as well as detection for nutritional and environmental health issues.
BioTechPharma is primarily in the research and development phase for a broad range of drug monitoring and medical diagnostics products. The company has reported 2013 sales of approximately $7 million and projects 2014 total revenues to exceed $10 million.
About Alternative Energy & Environmental Solutions, Inc.
Alternative Energy and Environmental Solutions, Inc. (ALNE) was originally formed in 2010 to market an innovative new biotechnology that utilizes nutrient stimulants organic microbes to extract coalbed methane more efficiently in high production as well as low producing, depleted and abandoned coalmines in the U.S.
About BioTechPharma
BioTechPharma was founded in 2005 to develop innovative medical diagnostic tools that dramatically reduce the time and cost associated with monitoring drug and medication use and testing for a broad range of health issues and diseases. In 2006 BioTechPharma designed and patented a nanotechnology-based development platform on which to create products that provide one-step collection and rapid on-site testing for drug use/abuse and detection of cancer, infectious diseases and environmental and bio-defense substances. The BioTechPharma platform is protected in the U.S. by three key patents relating to sample collection and nanotechnology inventions. BioTechPharma is headquartered in Arlington, VA, and manufactures its products in the U.S.
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The information provided may contain forward-looking statements and involve risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties, which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and the Company’s ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. The Company is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.
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SOURCE Alternative Energy & Environmental Solutions, Inc.
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