China Medical Technologies, Inc., a leading China-based medical device company that develops, manufactures and markets high intensity focused ultrasound products and advanced in-vitro diagnostic systems, announced that the Company has entered into a 10-year collaboration agreement with the Chinese Academy of Sciences Institute of Acousticsto establish a medical research laboratory that is expected to be used as a platform for the development and commercialization of acoustic medical devices.

The goal of this initiative is to enhance the Company's research capabilities, expedite the development of new products as well as to expand the Company's product range.

Under the terms of the agreement, China Medical will be responsible for all of the development costs and will in turn retain the intellectual property rights relating to these products. The Company expects to fund the laboratory on a project basis over the 10-year period. The potential and feasibility of each project will be thoroughly and cautiously assessed by the Company together with the Institute. The related budget of each project will be examined prior to entering into any capital commitments.

Leveraging the existing acoustic technology and expertise of the Institute, China Medical aims to develop affordable acoustic medical devices that address the needs of patients, and the vast and untapped market potential that exists in China.

The Company believes that its proven track record of developing high quality medical devices, strong distribution network, and well established commitment to controlling costs will allow the Company to benefit from the research and development of these innovations. The Company looks forward to disclosing specific product development plans once a thorough assessment has been completed.

Source:佚名