Bio Bridge Science (CE) (USOTC:BGES)
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Bio-Bridge Science, Inc. (OTCBB: BGES) announced today
that it has recorded the initial sales of Xinhua's surgical
instruments. Late last year, Bio-Bridge Science entered into an
exclusive agency agreement with Xinhua Surgical Instruments Co., Ltd.,
a leading global manufacturer of hundreds of instruments that meet the
criteria for Class I medical devices by the FDA, under which Xinhua
granted the Company exclusive distribution rights for all of Xinhua's
surgical instruments sold in the U.S. The initial sales were for
surgical scissors and forcepts.
Recently, Bio-Bridge received notice confirming that it had
successfully registered the products with the FDA and established a
sales inventory of Xinhua's surgical instruments. The Company plans to
use well-established distributors in addition to their own sales force
to reach the potential market directly. The Company plans to offer
high-quality instruments at reduced prices, which will provide for an
opportunity to take market share quickly.
"We are pleased to have recorded the first sales from Xinhua's
extensive portfolio of products," said CEO Dr. Liang Qiao. "The
potential market for their instruments is enormous, as doctors,
veterinarians, researchers, and dentists throughout the United States
can benefit from their leading-edge products. While the surgical
instrument market in the U.S. is highly competitive, our plan to offer
high-quality instruments at reduced prices will allow us to take
market share quickly. We look forward to working with Xinhua as it
receives FDA clearance."
About Xinhua Surgical Instrument Company:
Xinhua Surgical Instrument Co., Ltd, was established jointly by
Aesculap International Co. Ltd, Germany and Shandong Shinva Medical
Instruments Factory, China in 1997. Xinhua has established a first
level production line which produces annually more than 2 million
instruments. Using the surgical instrument processing techniques
imported from Germany, Xinhua's products have big advantages based
upon superior durability and performance. Some of the products include
standard surgical instruments, neuro surgery instruments, micro
surgery instruments, cervical and lumbar vertebra surgery instruments,
thoracic and abdominal surgery instruments, urological surgery
instruments, gynecologic and obstetric surgery instruments, special
surgical instruments, dental instruments, non-chrome plated micro
neuro surgery instruments, and head resting systems and
electro-surgical motors.
About Bio-Bridge Science:
Bio-Bridge Science is a biotechnology firm focused on the
development of vaccines with broad therapeutic and preventive
applications. Through its wholly owned subsidiary in Beijing,
Bio-Bridge is developing a promising new HIV Vaccine, that is expected
to enter clinical trials this year in China. The vaccine, based on
exclusive technology co-developed by CEO Liang Qiao, an associate
professor at Loyola University Chicago's Strich School of Medicine,
targets infection in mucosal tissues, the first type of tissue
attacked by HIV.
The Chinese government, mindful of the rapid expansion of AIDS in
China has, through the "Green Mile Policy" acted to expedite the
approval of domestically produced HIV Vaccines and has dramatically
increased its spending on AIDS-related research. In accordance with
this policy, Bio-Bridge expects to bring its therapeutic HIV Vaccine
to market as early as 2008, far in advance of many other HIV Vaccines
currently in development. Bio-Bridge is currently constructing a new
$3 million state-of-the-art GMP research and manufacturing facility in
Beijing, which is expected to be completed by mid-year.