BioGenetic Announces U.S. Patent Office Approves Superior Cut 2 Patent.TORONTO--(BUSINESS WIRE)--Oct. 3, 1997--BioGenetic Technologies Inc. ("BTI BTI Beverage Testing Institute BTI Boyce Thompson Institute BTI British American Tobacco (stock symbol) BTI Boston Theological Institute Bti Bacillus Thuringiensis Israelensis BTI BioTechnology Institute BTI Binding Tariff Information ") of Toronto, Ontario is pleased to announce that the U.S. Patent Office has approved BTI's patent for its new "Superior Cut2" non-stick electrode surgical blade. This blade is used in all forms of surgery and incorporates a new coating on the surgical blade that does not allow human tissue to stick to the surgical blade. BTI expects that the formal patent should issue in approximately 30 to 60 days. In the interim, BTI is now in a position to commence sales of this new product. The Superior Cut2 medical device was previously approved by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. on May 2, 1996. Gene Zamba, the President of BTI stated "to our knowledge, the uniqueness of the Superior Cut2 surgical blade stands alone in the market place." BTI is also pleased to announce that it has entered into an exclusive distributorship agreement with Austin Medical, Inc. of Sanford, Florida Sanford is a city in and the county seatGR6 of Seminole County, Florida, United States. The population was 38,291 at the 2000 census. As of 2006, the population recorded by the U.S. Census Bureau is 49,124. . Such agreement amends BTI's 1996 distributorship agreement with Austin. The distributorship agreement gives Austin an exclusive right to sell BTI's range of 46 surgical devices (including the Superior Cut2) in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and its territories. The initial term of the agreement is 10 years. The agreement may be terminated by BTI if Austin fails to achieve mutually agreed annual sales quotas. Austin has approximately 80 sales people located throughout the United States. Austin will sell BTI's medical devices directly to hospitals and through independent distributors. BTI is a publicly held medical devices company founded in 1994 with operating headquarters in Tampa, Florida “Tampa” redirects here. For other uses, see Tampa (disambiguation). Tampa is a United States city in Hillsborough County, on the west coast of Florida. It serves as the county seat for Hillsborough County.GR6. . Its primary business is the research & development, manufacture and marketing of innovative medical/surgical devices for a wide range of medical and surgical procedures. BTI's shares trade in Toronto on the Canadian Dealing Network Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. under the trading symbol Trading symbol See: Ticker symbol "BGTI" and there are 21,403,876 common shares currently outstanding. CONTACT: BTI Gene Zamba, (813) 855-2388 Fax: (813) 855-3236 |
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