MIAMI, FL / ACCESSWIRE / January 12, 2017 / Biotech Products Services & Research Inc. (OTC PINK: BPSR) ("Company") today announced that its wholly owned subsidiary, Anu Life Sciences Inc. ("Anu"), has successfully completed several trial production runs of its first amniotic allograft biological product ("New Amnio Product").
The New Amnio Product represents the first of several amniotic-based biologics products that the Company intends to develop, manufacture, and supply to the health care industry. Specifically supplying health care providers, including doctors, clinics, and hospitals ("Providers"), in connection with the Company's previously announced strategy to become a leading supplier of newly designed advanced biologically processed cellular and tissue based products and services used in the growing health care field of regenerative medicine.
The Company expects the New Amnio Product to be commercially available through Anu's designated distributor, General Surgical Inc. ("General Surgical"), also a wholly owned subsidiary of the Company, during the first quarter of 2017, pending confirmation of test results validating the Company's production processes and the current inventory on hand of the New Amnio Product. General Surgical intends to distribute Anu's products to the health care industry and Providers, through a newly established in-house sales force and/or through arrangements with independent distributors.
The successful trial production runs referred to above follows the Company's earlier announcement in November 2016 of the additions to its executive management team, including Chief Operating Officer, Dr. Bruce Werber, Chief Financial Officer, Mr. Ian Bothwell, and Chief Science Officer, Dr. Maria Ines Mitrani, who joined Chief Executive Officer, Mr. Albert Mitrani. The management team provides significant industry, technical, and financial-related experience as the Company begins the launch and expansion of the supply of newly developed innovative biologic tissue products.
Historically, the Company's main revenue stream has been generated from patient referral fees and sales of products obtained through supply arrangements with third party manufacturers. The Company believes that its New Amnio Product and the potential future products that it intends to develop and manufacturer will provide greater growth opportunities and increased revenues to the Company as a result of: (a) proprietary cutting edge protocols in the processing of amniotic tissue for medical applications that will provide benefits to Providers and patients for treatments using amniotic tissue derived products that are highly competitive to the other products currently available in the market; (b) improved margins obtained on the sale of the products; and (c) increased sales resulting from marketing programs that are aimed to attract distributors and Providers.
Management believes that Anu's manufacturing capacity will meet forecasted product supply demands for the New Amnio Product and can be easily scaled for further increases in demand and to expand production for additional products that Anu may develop in the future
