ADM Tronics Receives Strategic Investment from Advanced Plasma Therapies
NORTHVALE, N.J., Aug. 10, 2015 /PRNewswire/ -- ADM Tronics Unlimited, Inc. (OTCQB: ADMT) announced today that Advanced Plasma Therapies Inc. ("APT"), a privately-held company involved in the development and commercialization of innovative therapeutic medical plasma technologies, has invested $300,000 in ADMT in exchange for 2,068,965 shares of ADMT common stock. The shares purchased by APT are restricted securities and have not been registered for public sale.
ADMT has been providing APT with engineering services for APT's plasma-based medical technologies currently in clinical development and is expected to manufacture APT products for clinical study use and for commercial deployment following receipt of applicable regulatory approvals.
"ADM Tronics has been, and continues to be, an integral partner with us in the advancement of our plasma therapeutic technologies," stated Michael Preston, a founder and the Executive Chairman of APT. "ADM Tronics has assisted us greatly with their engineering, intellectual property and regulatory expertise in their work for our specialized plasma therapeutics, which we believe have worldwide applications in many medical specialties. We look forward to continuing to work closely with ADMT as we bring our medical technologies to market."
Proceeds from the APT investment will be retained by ADMT for general corporate purposes and will bolster ADMT's strategic flexibility. The funds are expected to assist in financing ADMT's internal investment in its own proprietary medical technologies.
"We are extremely pleased with APT's decision to make this strategic investment in ADMT," stated Andre' DiMino, President of ADMT. "We are proud of the engineering services we have provided to APT and the significant progress made in the development of APT's exciting plasma medical technologies. We look forward to continuing our close relationship with the APT team as their technologies move towards the market."
ADMT specializes in electronic medical device design, development and manufacturing for diagnostic and therapeutic medical technologies at its FDA-Registered Medical Device Manufacturing Facility. ADMT is a one-stop source for complete design, engineering, regulatory and manufacturing services, specifically related to medical devices. Its capability of bringing a medical device from the conceptual stage, through design, development and regulatory stages, into production, all in-house, differentiates ADMT from firms supplying only portions of those services.
In addition to engineering, regulatory and manufacturing services for both partners and clients, ADMT has a number of proprietary medical devices. These devices, conceived, designed and produced in-house include therapeutic and diagnostic medical technologies in fields as diverse as audiology, physical medicine, wound therapy, neurology and urology. For more information visit the Company's websites - admtronics.com and concepttoquantity.com.
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three Business Segments: Proprietary Electronic Medical Devices; Eco-Friendly, Safe, Water-Based Formulations; and, Design, Engineering, Regulatory and Manufacturing Services. The Company's headquarters, laboratories, medical device and manufacturing operations are located in Northvale, New Jersey. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3D solid prototyping, precision instrumentation and specialized software and peripherals for research, development and commercialization of diversified technologies.
Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995). Although ADMT believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's filings with the SEC, news releases and other communications.
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SOURCE ADM Tronics Unlimited, Inc.