|By Marketwired .||
|March 13, 2014 09:18 AM EDT||
SHORT HILLS, NJ -- (Marketwired) -- 03/13/14 -- Umbra Applied Technologies Group (OTC: UATG) announces today that its Biotech Division has finalized agreements that will enable the Company(UTA) to bring forward the greatly anticipated blood preservation treatment Propestat. Propestat is the backbone of UAT's Cellgevity brand found only in the much-anticipated Blood Management System.
Under Project Ichor, UAT worked closely with its sister company, Intrepid Medical Technologies Corporation to deliver the UAT BMS (Blood Management System). With this new Blood Management System, UAT introduces a paradigm shift in blood management with an advanced, reliable and cost-efficient blood and platelet containment system design. When released, the UAT blood management system with Cellgevity powered by UAT's Propestat will be the most technologically advanced blood collection and storage system in the world. UAT's blood and platelet management system offers outstanding preservation performance with an unparalleled attention to function, ergonomics and quality. When asked about the collaboration among the subsidiary companies of UAT Group, CEO of Intrepid Innovations Corporation Chuck Winters, responded, "The dynamic among all of our subsidiaries is one of absolute cooperation because we are all one family working towards a common and clearly defined goal."
UAT's blood management system with Cellgevity will deliver unparalleled performance preserving blood platelets up to 10 times longer than any other bag in the world. This revolutionary new Blood Management System is just that, a system of sophisticated technology working harmoniously together to document historical information on its contents and extend viability and integrity of blood products.
Whole blood and whole blood products are obtained directly or indirectly through blood donation from which no constituent like red blood cells, white blood cells, plasma, or platelets, are removed. Whole blood management has not seen much improvement as 90% of blood collected globally uses a manual process that includes record keeping, handling, and transportation. This provides significant opportunity for Umbra Applied Technologies, which is working towards the improvement of existing protocols and preservation technology. Umbra Applied Technologies (UAT) Chief Executive Officer Alex Umbra, was quoted as saying, "UAT's Biotech segment will prove to be a long-term growth driver for the company because of its acquisition strategies and commitment to advancing technology in this segment."
When speaking with Mr. Umbra, he was very optimistic about biotech and cited a few of the reasons why he feels biotech is a good investment for a company to make; "If you take a look at the biotechnology industry, you will notice that it was adversely affected by the global financial crisis, with several leading biotechnology companies in the US and Europe reporting fall in revenues amid restricted capital inflows, and project cancellations and delays. The industry however recovered strongly from the crisis with a number of major biotechnology companies registering profits largely due to the adoption of new efficiency and cost-saving measures. This is indicative of how well we in the industry adopt and innovate."
Mr. Umbra further elaborated when he was quoted as saying, "According to analysts, there are many indicators that the global biotechnology market will surpass US$320 Billion by 2015, and this represents a significant opportunity for growth in our biotech market segment."
"We are very excited to bring Propestat to market in the near term," said Mr. Umbra. "A small portion of the global biotechnology market that just includes global blood processing products and consumables market revenue is expected to grow at a CAGR of 8.9% over the next six years, to reach a market worth $49.16 billion in 2019, and the Propestat brand will be the only product to offer improved efficacy and assure a never-before-seen level of viability."
About Umbra Applied Technologies, Inc.
Umbra Applied Technologies is a member of the Umbra Applied Technologies Group (OTC: UATG) family of companies. Umbra Applied Technologies, U.S. based Defense and Security Company, is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services for defense, civil, and commercial applications in United States and internationally. It also provides management, engineering, technical, scientific, logistic, and information services.
In support of air, land and naval forces, the company operates in five segments: Aeronautics, Information Systems & Global Solutions, Biotech, Alternative & Renewable Energy, and Intelligence Systems. The Aeronautics segment offers military aircrafts, such as unmanned combat and air mobility aircrafts, and related technologies. The Information Systems & Global Solutions segment provides advanced technology systems and security expertise, integrated information technology solutions, and management services for civil, defense, intelligence, and other government customers. The Biotech segment addresses critical gaps that are absent in defense medical research programs. The Alternative & Renewable Energy segment provides alternative solutions to energy through research in bio-electricity, wind, thermodynamic and solar energy. The Intelligence segment provides computational study of signals, open source and network intelligence through advanced metrics and algorithms to locate and extract sentiment from gathered intelligence.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Umbra Applied Technologies Group, Inc.
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