SHENZHEN, CHINA and NEW YORK, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Advanced Biomedical Technologies Inc. (OTCQB:ABMT), a pioneer developer and manufacturer of novel orthopaedic internal fixation devices, has announced the official launch of its sales campaign.
The sales campaign was kick-started with the signing of a sales and marketing distribution agreement between Shenzhen Changhua Biomedical Engineering Co. Ltd. (“Changhua”), an ABMT subsidiary, and Guangzhou Ding Hua Biomedical Technology Ltd. (“GZDH”), a medical device sales company based in Guangzhou, South China. Both companies share core values and a common vision of the future. Guangzhou Ding Hua (GZDH) has been authorized as Changhua’s national sales representative company and will be leading its sales effort in China, where the market value for orthopaedic devices is expected to reach $4 billion USD and continue to grow in the coming years.
“This marks a momentous leap for our company. Our continuous intensive research and development has been undertaken over the last 12 years in developing this revolutionary technology. 2019 marks the start of our increasing efforts to raise sales and reach our targets. The company has been actively boosting its brand through participating in national and provincial orthopaedic conferences, garnering deals with national and provincial distributors. In addition, we have coordinated with government authorities to obtain the National New Orthopaedic Consumables Classification Code (“OCCC”) especially for our unique proprietary bio-polymer internal fixation screws, and completed the provincial product registrations meeting China’s Medical Sourcing regulations. We believe that these activities will not only strengthen our network of agents and distributors to reach a greater number of hospitals, but also allow us to better understand the needs and demands of surgeons, without inhibiting existing operational procedures and maximizing the effectiveness of our products. In conclusion, our future is bright and we expect continued growth over the coming years,” said Ms. Hui Wang, CEO of ABMT.
Besides effectively appointing agents and distributors, ABMT will be working closely with medical institutions and research universities to expedite future clinical trials of upcoming series of polymer fixation devices, including Intramedullary Nailing Fixation, Binding Wires, Micromodule Screws & Plates, Maxillofacial & Craniofacial Plates, and Rib Pins.
“Our current strategy is to continuously invest in R&D and bring new products to the market to meet patients’ and surgeons’ needs. Following the CFDA approval of our unique bio-polymer materials in 2018, we have gained a better understanding of China’s stringent regulatory approval procedures and we expect relatively quicker regulatory approvals for future products which are based on the same bio-materials. Our bio-polymer materials and products have been through years of innovative research and engineering. We are now proudly bringing the health benefits to patients and starting to generate revenue for our company. We thank all our employees, investors and everyone involved for their support over the last decade and look forward to sharing further success in this new chapter of our company,” said Mr. Kai Gui, CFO of ABMT.
With an estimated number of over 4 million orthopaedic procedures in China each year, ABMT’s sales objective is to reach 10% of the total of 30,000 hospitals in China, especially Tier 2 and Tier 3 markets.
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 PA6-P(MMA-co-NVP)-HA which is approved by the CFDA in China. 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 material is utilized in producing human body implant screws, binding wires, rods and related implantation products. With over 16 years of meticulous in clinical trials, the company has developed the internal fixation devices to be clinically effective and safe.
The products and materials that the company has created differ from competing biomaterial and metal based products being marketed today by:
- High biocompatibility.
- Eliminating the need for a second surgery to replace device due to infection or other post-operative complications.
- Stimulate bone tissues to facilitate effective biological integration, benefitting the regeneration of bone.
The company is establishing broad and new intellectual property protection schemes around our unique PA product lines, not only on its combination compounds, but also to lead as an outstanding material in the future of clinical activity.
Forward-Looking Statements
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.
Contact:
Advanced Biomedical Technologies Inc. Investor Relations
TEL: 1-718-766-7898
EMAIL: info@abtbiomedical.com
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Source: Advanced Biomedical Technologies Inc.