NEW YORK and SHENZHEN, China, Nov.
2, 2011 /PRNewswire/ -- Advanced BioMedical Technologies
Inc. (OTCQB:ABMT), a developer and manufacturer of orthopaedic
internal fixation devices, is pleased to announce the formation of
its scientific advisory board (SAB). The SAB is comprised of three
distinguished physicians and scientists. The combined expertise of
the SAB will provide the Company with critical scientific and
strategic input as the Company continues to develop its internal
fixation devices using its proprietary bio-absorbable material.
Prof. Liu Shang-li, M.D., Ph.D., is
a professor and surgeon, specializing in Pediatric Orthopedic,
Spinal and Joint Surgery. He currently works as the Director and
Chief Physician of Incumbent Orthopaedics Department, Director of
Sun Yat-sen Spinal Center, Doctoral and Post-Doctoral Mentor at Sun
Yat-sen Memorial Hospital, Sun Yat-sen University in China. Prof. Liu has published more than 50
papers and co-authored 4 textbooks. He has been awarded with more
than 10 prizes in scientific research. Two of his studies, "Bone
Tumor Clinical Pathology Research" and "Children Stock Bone
Necrosis Pathogenesis", have won government awards in China. Prof. Liu is a frequent speaker
at international academic conferences and he holds the honourable
international scholar title from the Cleveland Clinic in USA. He
also worked as the Associate Professor and Researcher of spinal
column surgical department of the South Illinois University Medical
School; Guest Professor of University of
Copenhagen, Denmark; Guest Researcher of The Chinese University of Hong Kong. Prof. Liu
graduated from Sun Yat-sen School of Medicine in China in 1968. After working as a surgeon at
various hospitals, he continued his graduate studies in 1978 at Sun
Yat-sen School of Medicine, where he was awarded his Master and
Ph.D. degrees. He also worked as a Lecturer, Associate Professor,
Professor, Deputy Director, Deputy Dean of Sun Yat-sen Memorial
Hospital, Sun Yat-sen University. Prof. Liu sits on the editorial
board for most major Orthopaedic Journals in China. He also holds the prestigious title –
National Expert for the Central Bureau of Health, Ministry of
Health of the P. R. China. Prof.
Liu currently serves as the Company's Chief Medical Advisor for
Greater China.
Dr. Thomas DeBerardino,
M.D., Associate Professor at University of
Connecticut, has authored over 40 scientific articles on
ligament, tendon and cartilage injuries of the knee and shoulder,
and has won several prestigious awards including the AOSSM NCAA
Research Award; the Aircast Award for Clinical Science
Presentation; and the AOSSM-ESSKA European Traveling Fellowship. As
an orthopaedic surgeon, Dr. DeBerardino specializes in sports
medicine and arthroscopic surgery, including the management of
complex injuries of the knee and shoulder as well as hip
impingement in young active adults. Before moving to the
University of Connecticut, Dr.
DeBerardino spent eight years at the United
States Military Academy where he was the Head Team Physician
for the collegiate athletic teams and Director of the Sports
Medicine Fellowship program. He is a member of many national and
international professional societies including: the American
Orthopaedic Society for Sports Medicine, the International ACL
Study Group and the prestigious Herodicus Society. He is a faculty
member in the Center for Joint Preservation and Replacement. He has
a special interest in the use of hip arthroscopic procedures to
avoid the development of arthritis and osteotomies and cartilage
repair procedures to limit degeneration of the knee joint. Dr.
DeBerardino has been appointed to the Company as the Chief Medical
Advisor for North America.
Prof. Hani Awad, Ph.D., is an Associate Professor of
Biomedical Engineering and Orthopaedics and a Principal
Investigator in the Center for Musculoskeletal Research at the
University of Rochester. He received
his Ph.D. degree in 1999 at the University of
Cincinnati and later completed a post-doctoral fellowship at
Duke University. Dr. Awad's research
focuses primarily on Musculoskeletal Tissue Engineering with an
emphasis on challenging clinical problems and translational
solutions. Prof. Awad is a NIH funded scientist who has received
multiple honors including the Wallace H. Coulter Foundation Early
Career Translational Research Award in Biomedical Engineering, the
Airlift Foundation Grant Award, and the Orthopaedic Research and
Education Foundation's (OREF) Early Career Grant Award, among other
awards. In addition, Prof. Awad along with the research group from
his alma mater won the 2007 Kappa Delta Ann Doner Vaughn Award in
recognition of their research on Functional Tissue Engineering for
Tendon Repair. The Kappa Delta award is the highest research award
given by the American Academy of Orthopaedic Surgeons (AAOS) and
the Orthopaedic Research Society (ORS), and places him among an
elite company of previous award recipients. Prof. Awad has been
appointed as the Chief Science Advisor for the Company.
"Having completed clinical trials on the Company's technology, I
found that the degradable medical devices far surpasses that which
is currently being used in the field," said SAB Chairman Prof.
Liu Shang-li, M.D., Ph.D., "The
future applications for these products are far reaching, as this
technology can be utilized in many other areas of medicine."
Dr. Thomas DeBerardino, M.D.,
Associate Professor at University of
Connecticut, said, "Orthopaedic Surgeons are constantly
trying to make patient recovery from injury simpler, faster, and
more effective. Companies such as Advanced BioMedical Technologies
Inc. are making great strides in this direction by developing new
product lines of absorbable implants made from a polyamide (PA)
that offer significant advantages over earlier metallic implants
and older biodegradable implants made of various polymers and
copolymers of PGA and PLA (poly-glycolic acid and lactic acid).
Early clinical data from China
provides exciting new evidence regarding this novel
state-of-the-art PA material. The improved biocompatibility profile
of PA will lead to a markedly decreased need for implant removal
that can be common with earlier implant materials. The ease of
obtaining a patient-specific fit for PA devices and more closely
matching the material properties of the patient's bone will lead to
a decreased risk of postoperative complications such as infection.
The slower controlled degradation of PA will foster a better
load-sharing environment between the bone and implants and allow
normal load to shift progressively to the host bone. PA offers the
added benefits of negating distortion of postoperative images
(plain radiographs and MRI) combined with a reduced need for
implant removal that ultimately translates into cost-effective
implants that provide improved performance. The use of PA and the
multitude of implants derived from PA marks a significant advance
in orthopaedic surgeons' armamentarium for helping patients mend
their injuries in a more efficient and safe manner."
"Numerous bone complications, of pathological or traumatological
origin, are indications for the use of biomaterials, either in
fixation devices or in prosthetic scaffolds to stimulate bone
regeneration," said Prof. Hani Awad, Ph.D. and Associate Professor
at the University of Rochester.
"According to recent market research reports, the past decade saw
innovations in the Plate and Screw segment (of the Trauma Devices
market), including new biomaterials and new screw technology and
design, among other innovations in plating systems, pushing
revenues in that segment to a value of almost $900 million in the US (Source: Millennium
Research Group). In fact, the past couple of the American Academy
of Orthopaedic Surgeons (AAOS) meetings featured expositions that
showcased a thriving market in these medical device segments. Most
importantly, surgical procedure volumes that use these devices are
relatively unharmed by local or global economic recession, as most
trauma procedures, such as repairing broken bones, cannot be
postponed, making revenues from this segment virtually resilient to
fluctuations in the global economy. I believe that Advanced
Biomedical Technologies, Inc. (ABMT) has remarkable clinical and
commercial potential. As I am privy to data from clinical studies
performed in China, which
demonstrated superior biocompatibility and controlled
biodegradation profiles of the polyamide (PA) biomaterial used in
their fixation screws, I believe that ABMT products can lead to
better bone integration and less complications."
"The creation of our inaugural Scientific Advisory Board is a
new stage of development for the Company," said Wang Hui, the Company's CEO. "A combination of
in-house research efforts and strategic co-operations has already
provided us with vital new programs. By leveraging the vast
expertise of the three members of our Scientific Advisory Board,
Advanced Biomedical Technologies Inc.'s management will be in an
even stronger position to evaluate current and future opportunities
and to deliver on their potential."
About Advanced Biomedical Technologies Inc. (OTCQB: ABMT)
Advanced Biomedical Technologies, Inc. is a biotech company
whose primary product line includes internal fixation devices
consisting of high grade polymers (polyamide – "PA") which allow
the body to degrade the products during the healing process.
During that healing process, these products also stimulate
new bone growth that replaces the degrading device and leaves
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 existing products (titanium/stainless steel) 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.
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:
Chi Ming Yu
(718) 766-7898
info@abtbiomedical.com
Kai Gui
(718) 766-7898
info@abtbiomedical.com
SOURCE Advanced BioMedical Technologies Inc.