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[ biotech news ] Cell Robotics International, Inc. Unveils Strategy to Pursue Broad Penetration o
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Cell Robotics International, Inc. Unveils Strategy to Pursue Broad
Penetration of the $140 Billion Dollar Global Market for Medical
Devices
Oct. 3, 2005--Cell Robotics International, Inc. (OTC:CRII) initiated
a broad pursuit of the $140 billion global market for medical
devices by entering into a letter of intent to acquire Techventors
LLC, a New Mexico LLC that is focused on developing strategic
partnerships between companies in the US and China to cross-market
and cross-develop state-of-the-art medical devices. Techventors is
currently distributing the "Clinical Lasette" product line of Cell
Robotics in China.
James S. Toreson, CEO of Cell Robotics, stated, "The acquisition of
Techventors is a strategic initiative, which will assist the company
in reaching its goal of becoming a leading global supplier of
medical devices. In the short term, this acquisition will enable our
company to source existing medical devices from over 9000 suppliers
in China and Taiwan and bring them to market in the US. This will
afford our company the ability to accelerate its revenue growth and
shorten its path to profitability. In the longer term, this
acquisition will afford us the opportunity to exploit the synergy
between the advanced medical device research resources in the US and
the low cost product development and manufacturing resources in
China. This will result in state-of-the-art medical devices, with
high quality and low cost that will give us a significant strategic
comparative advantage in this market." He further stated, "As a by-
product of qualifying some of the 9000 medical device suppliers in
China and Taiwan for the cross sourcing and cross marketing of
medical device products, we expect to discover numerous acquisition
candidates and to close several of them, which further shorten our
company's path to profitability. We are pleased to report that we
are already in such discussions with one of the acquisition
targets."
Techventors LLC was founded in May 2004 by Dr. Edly Lau, its
Managing Director and Dr. Feng Zhou, its CEO, with expressed goal of
creating a multicultural company specializing in connecting the
medical markets of China and the US. The background, expertise and
education of these founders is well suited to achieve these goals
along with the physical presence of the company with its offices in
New Mexico, Beijing, Shanghai, and Nanjing.
Dr. Lau graduated from Nanjing Medical School in 1982. After 7 years
practicing as a dentist he became director of internal medicine at
Nanjing Dental Hospital. In 1990, Dr. Lau launched his
entrepreneurial career by founding distribution companies that were
the sole distributors of over 100 medical device products supplied
from over 20 medical device companies based in US, Japan, and
Europe. In 1994, he founded a company that established a chain of
about 30 medical clinics located in major cities in China, such as
Beijing, Shanghai, Guangzhou, and major provinces such as Shandong,
Jiangsu, Tianjin, Henan, Shanxi, Xinjiang, Zhejiang, and Anhui.
These clinics specialize in state-of-the-art treatment, including
advanced laser technology, in the fields of eye care, dental care,
and dermatology. Since immigrating to the US in 1998, Dr. Lau has
worked on the development of several multicultural programs to
promote strong bond between China and the US in the medical field
and serves on the board of directors of several biomedical
companies.
Dr. Zhou was an undergraduate instructor and research scientist at
Xiamen University, specializing in cancer research from 1985 to
1990. He was awarded a PhD in biochemistry and genetics in 1995 from
the University of Texas. Thereafter he worked at the Los Alamos
National Laboratory to do pioneering work in developing technologies
that are used in biological and medical research. He launched his US
entrepreneurial career in 2002 to exploit technologies invented by
him and his colleagues at Los Alamos National Laboratory. These
technologies have received significant interest from major
pharmaceutical and biotech companies. Dr. Zhou was an adjunct
assistant professor at the University of New Mexico.
Cell Robotics is currently completing its due diligence and
developing a definitive agreement for this acquisition and expects
to complete the acquisition in the next 30 days.
About Cell Robotics International, Inc.
Cell Robotics International, Inc. is based in Albuquerque, New
Mexico and is the developer of innovative medical devices. Its
flagship product it known as the 'Clinical Lasette," which is the
only laser-based solution in the market for blood sampling, which
affords it significant competitive advantages over the
older "lancet" based technology, by enabling a "needle-less" method
of obtaining blood samples, which uniquely satisfies the safety
rules imposed by the U.S. Congress and OSHA. The estimated size of
the world wide market for the Clinical Lasette is over 40 million
dollars per annum. Further information on Cell Robotics
International, Inc. and its product lines can be obtained on its
website at www.cellrobotics.com.
This press release contains "forward-looking statements'' within the
meaning of Private Securities Litigation Reform Act of 1995. Such
statements can be identified by lead-in ``Looking Forward''. These
statements are not guarantees of future performance and involve
significant risks and uncertainties. Actual results may vary
materially from those in the forward-looking statements as a result
of the effectiveness of management's strategies and decisions,
general economic and business conditions, new or modified statutory
or regulatory requirements, and changing price and market conditions.
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