Gwowei Technology Company, Ltd., Taiwan, to Join Cambium in Development and Commercialization of Certain Human Platelet Derived Research and Therapeutic Products
ATLANTA, GA – May 19, 2014 – Cambium Medical Technologies (“Cambium” or “the Company’) announced today the signing of a Joint Development and Collaboration Agreement (“JDCA”) with a U.S. subsidiary of Gwowei Technology Company (GRETAI:4734) of Taipei, Taiwan. Entering into this JDCA includes an investment by Gwowei into Cambium in exchange for an exclusive license of certain manufacturing, development and commercialization rights to Cambium’s novel platelet lysate based technology and products in certain key countries. Financial terms of the JDCA were not disclosed.
“We are excited about having Gwowei, and through its recently established U.S. subsidiary; Amber BioLife, Inc., Seattle, Washington, as a strategic partner going forward,” said Terence Walts, President & CEO of Cambium. “Not only are our experiences and know-how in human platelet lysates synergistic, this partnership will allow Cambium the ability to enter China with our dry eye product and enter the worldwide cell growth supplement market much earlier than anticipated,” said Walts.
“Gwowei has assessed the international commercial potential of Cambium’s novel platelet lysate product and is convinced it has strong potential for use as a superior dry eye product as well as a cell growth supplement for producing new stem cell therapeutics,” said Dr. Sebastian Tseng, Gwowei’s Chairman. Dr. Tseng also stated, “We look forward to working together with Cambium to leverage our combined resources to more rapidly bring these novel products to the market.”
About Cambium Medical Technologies LLC
Founded in 2013 by four distinguished physician/scientists at Emory University, Atlanta, Georgia (USA)—Cambium is focused on the development of superior regenerative therapies through the use of novel human platelets. The Company has developed a novel process for the production of standardized allogeneic platelet lysate preparations depleted of fibrinogen for various therapeutic applications. The Company believes that its platelet derived products will prove to be superior to currently derived platelet based products today. The Company’s lead products will be as a superior artificial tear for dry eye syndrome (also called keratoconjunctivitis sicca or KCS), and as a superior growth culture supplement for the cell growth supplement market. For more information about Cambium, contact David Doolittle at +1 404-840-1321 or e-mail David at firstname.lastname@example.org.
About Gwowei Technology Company, Limited
Gwowei Technology Co Ltd currently principally provides dental services through dental clinics under the brand name of Dr. Wells. The Company also provides services in areas such as drug examination, intellectual property, the wholesale and retail sale of medical instruments—and in recent years has become an emerging player in several countries in the use of human platelet lysates as a cell growth supplement for certain research and cell therapeutic applications. Amber BioLife, Inc. is a U.S. based and recently formed, partly owned subsidiary of Gwowei focused on the development and commercialization of certain life sciences products on behalf of Gwowei. Currently, Gwowei operates primarily in Taiwan, mainland China, the Philippines and the United States. The company was founded in 1992 and is based in Taipei, Taiwan.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the Company’s technologies, investment in product development, possible future financings or other activities and/or statements preceded by, followed by or that include the words “believes,” “could,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “projects,” “seeks,” “potential,” or similar expressions. Investors are cautioned that all forward-looking statements involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements for any reason. All forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to update such forward-looking statements.