Advanced BioMedical Technologies Inc. Commences Facility Upgrade
SHENZHEN, CHINA and NEW YORK, NY / ACCESSWIRE / January 3, 2018 / Advanced Biomedical Technologies Inc. (OTCQB:ABMT), a developer and manufacturer of orthopaedic internal fixation devices, has announced the commencement of upgrading its facility in Shenzhen, China.
The Company is renovating its Shenzhen GMP facility to meet new China Food and Drug Administration ("CFDA") regulations and in preparation for CFDA's approval of the Company's PA Screws product which has been under CFDA review. The facility upgrade is expected to be completed in three months with the total cost at approximately $150,000.
"Not only will we meet the new requirements set by CFDA regulation, the enhancement of this facility will also improve our productivity and increase efficiency," expressed Wang Hui, CEO of the Company. "We must be well-prepared in every situation prior to CFDA's approval of our product, and to maintain this facility at its pristine condition is of our utmost priority and responsibility."
About Advanced Biomedical Technologies Inc. (OTCQB: ABMT)
Advanced Biomedical Technologies, Inc.'s primary product line includes internal fixation devices consisting of proprietary high-grade polymers (polyamide - "PA"). Our products are used in a variety of applications including orthopaedic trauma, sports-related medical treatment, or cartilage injuries, and reconstructive dental procedures. 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.
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.
Advanced Biomedical Technologies Inc.
SOURCE: Advanced Biomedical Technologies Inc.