HARBIN, China, May 4 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (OTC Bulletin Board: CSKI), a leading fully integrated pharmaceutical company for external use, over-the-counter drugs in the People's Republic of China ("PRC"), today announced the successful development of a semi-quantitative automatic inspection device for its diagnostic kits.
Harbin First Bio-Engineering Company Limited ("First"), a wholly-owned subsidiary of China Sky One Medical, has developed a series of diagnostic kits under the support of the Chinese government which significantly improve the accuracy of early cancer detection. In order to interpret the results from these diagnostic kits, physicians must use advanced equipment. This has impeded broader adoption of the diagnostic kits as very few hospitals in China are equipped with this type of equipment. As a result, the Company collaborated with Harbin Institute of Technology Machinery and Automation College to develop a semi-quantitative automatic inspection system for its diagnostic kits to aid physicians in interpreting the results.
The new inspection system utilizes transferred photoelectron technology. By attaching the inspection device to a diagnostic kit, the physician is able to easily determine the test results without utilizing other equipment. By simplifying the diagnostic process, the new device should stimulate faster adoption of the Company's diagnostic kits by healthcare professionals. The device has been examined by experts in the field and has been submitted to the SDFA for approval. China Sky One Medical is responsible for all the research expenses and holds the patent for the device.
"We are excited about the development of our semi-quantitative automatic inspection device," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical, Inc. "We believe that by combining our kits with the inspection device, it will promote wider adoption of the kits by healthcare professionals and make a meaningful contribution to our revenue in the future. The unique sales model of bundling diagnostic kits with the inspection device will help to maintain profits and increase our competitiveness going forward."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR") and Harbin First Bio- Engineering Company Limited ("First"), the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
SOURCE China Sky One Medical, Inc.