Company Offers Update of Events and Outlook for Near Term Opportunity
VANCOUVER, BC–(Oct 17, 2016) – Breathtec BioMedical, Inc. (CSE: BTH.CN) (CNSX: BTH) (CSE: BTH) (FRANKFURT: BTI) (OTCQB: BTHCF) (the “Company” or “Breathtec“), a medical diagnostics company focused on developing, in-licensing and commercializing proprietary, innovative and best-in-class breath analysis devices for the early detection of infectious and life threatening diseases wishes to address recent corporate events and to provide an update regarding its immediate outlook and future plans.
In response to recent volatility in its share price, the Company notes that fluctuations are an example of development stage market volatility which in Management’s opinion should be viewed in the context of the Company’s underlying financial health and strength of its product portfolio. Breathtec maintains a healthy working capital position of $1.3M. Additionally, management of the Company have voluntarily escrowed a significant number of shares with no insider sales having occurred or contemplated.
Breathtec’s technology portfolio continues to move ahead with all licensing and development agreements in-place and a number of ongoing achievements and development phases underway. A brief summary of recent and ongoing activities is summarized below.
Breathtec continues to progress its flagship FAIMS technology with the recent completion of a V2 prototype breathalyzer design. The latest design has significant advances over the previous prototype including larger dynamic range and improved efficiency in the square waveform generator, greater sensitivity achievable by the detector, improvements in the design, implementation of the novel ionization source, and is overall more than 10X smaller than the V1 prototype. The current design is well under development and includes features to allow for the addition of an onboard processor, touch screen and rechargeable battery in a handheld device configuration.
The Company anticipates receiving requisite IRB regulatory approval in order to commence clinical studies in Surrey, BC, Canada this month. The study has been designed to determine if the NaNose technology can identify differences in the breath signatures of patients with bacterial infections versus patients with viral infections. The ability to differentiate between bacterial versus viral infections at the Point of Care is anticipated to greatly assist physicians with treatment recommendations which could significantly and positively impact the excessive prescribing and resulting overuse of antibiotic-based treatments.
Management has engaged regulatory consultants with extensive experience in medical device and in vitro diagnostics strategies to evaluate potential regulatory options to propel both the FAIMS and NaNose technology platforms to market. The Company has further engaged experienced product development consultants to initiate the design controls, and quality systems processes to meet regulatory approval and to lead the establishment of product manufacturing protocols as a precursor to commercialization.
Dr. Michael Costanzo, Breathtec’s CTO recently gave a well-received presentation “Developing a Point-of-Care Device for Breath Analysis Utilizing FAIMS and FAIMS/MS,” to a prestigious group of leading experts in the field of breath analysis in Zurich, Switzerland. At the event, Dr. Costanzo affirmed, “Breathtec anticipates completion of a prototype of the FAIMS device in Q4 of 2016 and will work alongside our partner to advance the technology towards the clinic.” Dr. Costanzo’s presentation can be found here:http://breathtecbiomedical.com/news/presentations/.
Company CEO, Guy LaTorre comments, “We earnestly appreciate the continued interest and support of all our stakeholders, partners, affiliates and shareholders alike. As such, I wanted to take this opportunity to recap our continued technical achievements as we continue to be motivated daily with overwhelmingly positive feedback as regards the need for a Point-of-Care device such as ours as a means to save countless healthcare dollars and untold numbers of lives in the foreseeable future. These factors compel us to move ahead as quickly as possible with this exciting endeavor and we sincerely thank our supporters for the means to do so.”
ON BEHALF OF THE BOARD
CEO & Director
CAUTIONARY DISCLAIMER STATEMENT: No Securities Exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.