China Medical (fka CMEDQ)

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News: China Medical Technologies Successfully Develops Two HIV Diagnostic Reagents


2006-10-11 11:53 ET - News Release

The Research That Led to the Development of the Two HIV Diagnostic Reagents Was Chosen by the PRC Ministry of Health as One of Its Sponsored “Innovative Research Projects on AIDS Prevention and Treatment in 2006”


Company Website: http://www.chinameditech.com
BEIJING -- (Business Wire)

China Medical Technologies, Inc. (the “Company”) (NASDAQ: CMED), a leading China-based medical device company that develops, manufactures and markets high intensity focused ultrasound products and advanced in-vitro diagnostic systems, today announced that it has successfully completed the development of two HIV diagnostic reagents (the “HIV reagents”) using chemiluminescence immunoassay technology for both HIV initial screening and HIV definitive diagnosis. The PRC Ministry of Health has chosen the Company’s research that led to the development of the HIV reagents as one of its sponsored “innovative research projects on AIDS Prevention and Treatment in 2006”.

Currently, commonly-used HIV diagnostic tests in China include rapid screening technologies such as Enzyme-Linked ImmunoSorbent Assay (“ELISA”) for initial screening, and using other technologies with higher specificity such as Western Blot for definitive diagnosis after the initial screening.

There are approximately 3,800 accredited HIV initial screening labs and 57 Center for Disease Control (“CDC”) HIV definitive diagnostic labs in China. Positive HIV samples identified by the screening labs must be verified by one of the definitive diagnostic labs. The Company believes that the introduction of the HIV reagents will enable the screening labs to perform more accurate diagnosis in the future, which will help China further strengthen AIDS prevention and treatment efforts.

The Company recently submitted an application to register the reagents with the State Food and Drug Administration of China (the “SFDA”) after a large sample clinical trial had been completed. Under normal circumstances, the SFDA would take approximately 12 months to complete the approval process. The Company has been advised that its application for the HIV reagents is entitled to a fast track approval process and expects to obtain the relevant approval in less than 12 months.

About China Medical Technologies:

China Medical Technologies is a leading China-based medical device company that develops, manufactures and markets products using high intensity focused ultrasound for the treatment of solid cancers and benign tumors and advanced in-vitro diagnostics products using enhanced chemiluminescence technology, to detect and monitor various diseases and disorders. For more information, please visit our website at www.chinameditech.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “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 as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,”“expects,”“anticipates,”“future,”“intends,”“plans,”“believes,”“estimates” and similar statements. Among other things, The Company’s expectation to obtain relevant SFDA approval with respect to the HIV reagents in less than 12 months contains forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in China Medical’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. China Medical does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Contacts:

China Medical Technologies, Inc.
Ms. Winnie Fan, (86) 10 65308833
[e-mail]
or
Christensen
Mr. Tip Fleming, (1) 917 4123333
[e-mail]

Source: China Medical Technologies, Inc.