Advanced BioMedical Technologies Inc. held quarterly board meeting.
Online PR News – 19-April-2013 – April 19, 2013 – New York and Shenzhen, China: Advanced Biomedical Technologies Inc. (OTCQB:ABMT), developer and manufacturer of orthopaedic internal fixation devices, held its quarterly board meeting to discuss recent progress of the company regarding financing, marketing and the company's progress with the SFDA.
Dr. Thomas DeBerardino, the company’s chief medical advisor, was invited to the meeting. He said, “Based on the information shared by the board, the company is pursuing the SFDA approval of our Polyamide screw for widespread clinical use. Guided by China's new SFDA regulations, ABMT is making necessary minimal adjustments to the summary reports. I am glad to hear that the company is in the final phase of realizing success in gaining approval for its PA screw.”
With the upcoming expected Chinese SFDA granting of approval, ABMT can start to promote its revolutionary PA screw in China market in the fourth quarter of 2013. Meanwhile, the company also has its PA wire in the clinical trials and it will soon be ready for China’s SFDA approval.
Dr. DeBerardino also said, “Not only can we foresee the company’s success in China, but the company has already started building relationships with strategic partners in the US to begin the early stage testing guided by USFDA regulations to gain approval for clinical use throughout the United States. As the chief medical advisor of the company, I believe ABMT will soon be playing a more active role in this industry.”
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.
About Advanced Biomedical Technologies Inc. (OTCQB: ABMT)
Advanced Biomedical Technologies, Inc.’s primary product line includes internal fixation devices (bone screws, pins, wires etc.) consisting of proprietary high grade polymers (polyamide – “PA”) which allow the body to degrade the products during the healing process. During the healing process, the products stimulate new bone growth which replaces the degrading device, leaving 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 competing bio-degradable and metal based products 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.