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.
