WEST PALM BEACH, Fla., March 19, 2007 (PRIME NEWSWIRE) -- Advatech Corporation (Pink Sheets:ADVA) today announced that the U.S. Patent Office will allow Advatech's first patent covering the Company's Field Therapy Accelerator ("FTA") device and related technologies. The patent delineates with both Apparatus and Method Claims the unique design and process by which therapy could be delivered. Advatech's FTA is intended to provide the non-invasive treatment of many forms of trauma using an electric field.
Advatech Corporation's Director of Science and Product Development, Dr. Michael Spiegel remarked, "Broad patent protection is essential for the Company as we increase our efforts to demonstrate the effectiveness of our FTA while offering us the ability to move closer toward the successful commercialization of our technology. In particular, the treatment of Acute Wounds using our technology may offer an attractive financial opportunity for the Company."
Dr. Spiegel added, "The medical market share of Acute Wounds is in excess of $7 billion and growing dramatically as the population ages and lives longer. It represents a relatively undeveloped sector in medical science with few, clearly superior, treatment modalities yet identified. In addition to numerous other potential applications, the current primary business focus for Advatech will be on the treatment of Acute Wounds, which encompass all skin wounds such as burns and chronic wounds that persist longer than a few weeks and can threaten the overall health of the patient."
Advatech Corporation is an early stage medical device development Company. The Company is engaged in the research and development for the commercialization of non-invasive electrical therapies. Early tests of the Company's FTA device have demonstrated significant results in areas of burn healing. Previous research and pre-clinical testing have repeatedly offered positive therapeutic results indicating a potential for a wide variety of future applications including stimulating cell growth and possibly regulating specific genes to prevent certain diseases. A clinical trial is currently underway and if the results are consistent with those previously seen in other pre-clinical tests, there could be several alternate pathways for the Company to market and sell specific application designs through either a strategic partnership arrangement, a joint venture or a licensing agreement with an established medical device company.
Safe Harbor Statement
To date, the shares of ADVA have traded on the OTC market. In order for the shares to be quoted and traded on the Pink Sheets, NASD rules require that a broker/dealer submit information to the NASD gathered pursuant to the Securities and Exchange Act of 1934 (Exchange Act) Rule 15c2-11 before initiating a quotation in the Pink Sheets. The Company intends, as soon as practicable, to begin the process to have its shares quoted as well as traded on the Pink Sheets.
This release includes forward-looking Statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.