Ascentia Biomedical Announces a Shift to Biomedical Arbitrage and Development to Achieve Profitability
31 May 2006 - 12:25AM
PR Newswire (US)
BELLEVUE, Wash., May 30 /PRNewswire-FirstCall/ -- Ascentia
Biomedical Corporation (OTC Pink Sheets: ASCE), a leading
researcher and developer of efficacious pharmaceuticals, compounds
and other products, announces that as a part of its new business
model, Ascentia will purchase profitable dedicated clinical
research organizations [CRO] and integrate them into a national
branded research organization. The CRO will provide the capacity
and resources to develop Ascentia's preclinical contract research
through Ascentia Biomedical Technologies, Inc. CROs provide
independent product development services primarily for the
pharmaceutical, biotechnology and medical device industries.
Companies in these industries outsource product development
services to CROs in order to manage the product development process
more efficiently and cost-effectively, and to maximize the benefits
in time and profit of patient-protected products. The company has a
letter of intent to purchase its first profitable CRO located in
the Southeastern U.S. Additional acquisition candidates have been
identified and early discussions are in progress with company
representatives. A successful conclusion to the first two
acquisitions would provide Ascentia with annual profits of $5 MM.
Ascentia working in concert with its investment banker and an
international brokerage firm is finalizing the financial terms of
the acquisitions. Dr. James Clagett, President & CEO of
Ascentia Biomedical said, "Ascentia's drive for profitability
enhances the short and long term goals of Ascentia. It provides
access to additional investment capital in the future; resources to
continue pharmaceutical development of its two key compounds for
treatment of inflammatory diseases; and participation in more
senior markets." About Ascentia Biomedical Corporation Ascentia is
a biomedical arbitrage and development company. Ascentia will
purchase profitable clinical research organizations [CRO] and use
their revenue streams to further the development of the core
company and its products. Ascentia is developing and
commercializing new pharmaceutical and biomedical products for
application in a number of areas, including treatment for asthma,
arthritis, psoriasis and cancer. Initially, a majority of these
products will be secured through direct purchase or licensing. As
the Company grows and evolves, more products will be developed
internally. Ascentia is focused on therapies for cancer and
diseases of inflammation. For more information visit the Company's
website at: http://www.ascentiabiomedical.com/ Certain statements
contained herein are "forward looking" statements as such term is
defined in the Private Securities Litigation Reform Act of 1995.
Because statements include risks and uncertainties, actual results
may differ materially from those expressed or implied and include,
but are not limited to, those discussed in filings by the Company
with the Securities and Exchange Commission. DATASOURCE: Ascentia
Biomedical Corporation CONTACT: Dr. James Clagett, President &
CEO of Ascentia Biomedical Corporation, +1-425-462-5686 Web site:
http://www.ascentiabiomedical.com/
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