HOUSTON, Nov. 4, 2004 (PRIMEZONE) -- Eternal Technologies Group Inc. (OTCBB:ETLT) today announced that it has approved the acquisition of People's Republic of China-based E-Sea Biomedical Engineering Co. International, Ltd., a company with a revolutionary breast cancer detection technology. Final terms of the acquisition are being negotiated and closing should occur within the next twenty days.
The technology yields results in approximately 4 minutes and has demonstrated sensitivity rates of up to 96%. Breast cancer is the second leading cause of cancer deaths in women today (after lung cancer) and is the most common cancer among women, excluding non-melanoma skin cancers. According to the World Health Organization, more than 1.2 million people will be diagnosed with breast cancer this year worldwide.
Mr. JiJun Wu, Chairman of Eternal Technologies Group Inc., commented, "We are extremely pleased with the acquisition of this very promising technology. This is an exciting business opportunity which holds the promise of improving healthcare for women worldwide."
Mr. Wu continued, "The devise causes no pain and the cost of the test is very low. This instrument is good news for women as the incidence rate of breast cancer is increasing rapidly in China."
The company currently has a back log of 110 machines. Each machine costs approximately US$40,000. In addition to China, potential customers from Thailand and Viet Nam have also inquired about placing orders. The company plans to seek U.S. government approval for sale on the U.S. and international markets next year. If approved, Eternal would produce the product in the U.S. as well as China.
According to a publication titled, "The control of breast cancer: a World Health Organization perspective," the report concluded that the greatest decrease in breast cancer mortality is likely to derive from applying globally existing therapies at an earlier stage. A high priority of the World Health Organization (WHO) cancer control program is the outreach approach that promotes worldwide access to cancer therapies of proven values.
About Eternal Technologies
Eternal is a major agricultural genetics and biopharmaceutical R&D firm operating in China with the support of the Chinese Government. Eternal's animal breeding division has a strong asset base, cash position and net income. Eternal has become one of China's leading institutions for biopharmaceutical and biotech research, pure breed cultivation and breed stock production. The Company has secured a key market niche by commercializing gene engineering technologies and providing superior breeding stock, allowing China's citizens the ability to improve their living standards. With the world's largest population, a double-digit national growth rate and entry into the WTO, Eternal Technologies has a playing field set for tremendous opportunity. As a prominent player in the agricultural genetics industry, cash in the bank and an untapped market, Eternal has the potential to become a major player in China's national growth.