DEL MAR, Calif., April 30, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (OTC: ADHC) announced today that its acquisition company Brazos Biomedical, LLC (BRAZOS), has formed a Scientific Advisory Board (SAB). BRAZOS has selected Ioannis M. Skaribas, M.D., the inventor the bio-device technology AURACIS™ as the SAB Chairman. Additional SAB members will be added in the future as the development track progresses.
Dr. Skaribas, Board certified in both Anesthesiology and Pain Medicine, specializes in advanced interventional pain therapies. In the course of his clinical practice, Dr. Skaribas realized there remains a significant unmet medical need for an inexpensive, effective treatment for intractable headaches, especially migraine headaches. By extrapolating principles used in a highly effective treatment using implanted electrodes, the patented AURACIS™ device was conceived and patented. Now, as Chairman of the BRAZOS SAB, Dr. Skaribas will use his expertise to help evolve the prototype to a market-image, FDA-cleared Class II medical device.
David Foster, Ph.D., J.D. of BRAZOS said, "Formation of the SAB is an important milestone for BRAZOS, and we are delighted that Dr. Skaribas has agreed to serve as SAB Chairman. We are soliciting bids from several premier medical device development firms and FDA consulting firms." Foster added, "SAB guidance for the next AURACIS™ design phase will help BRAZOS to define the core operating features of the device that will be the subject of a future 510(k) submission." A 510(k) is a submission made to FDA prior to marketing a product to demonstrate that the device is at least as safe and effective (often described as "substantially equivalent") to a legally marketed device.
Ernest Remo, Chairman & Founder of ADHC commented, "As SAB Chairman, Dr. Skaribas provides important continuity in the development of the AURACIS™ device and represents another significant milestone for ADHC." Remo continued, "The value of retaining the inventor of AURACIS™ technology cannot be overstated."
ADHC also announced that along with the developments announced with Brazos, the ADHC management team has engaged or is in discussion with SEC approved auditors, securities counsel, patent counsel and investment banking firms to advise the company on up listing ADHC to the OTC-QB exchange.
"Completing the Brazos acquisition in concert with our proposed up listing to the OTC-QB is a significant milestone for our shareholders. Our market research into the Brazos acquisition has revealed a strong demand in the medical community for non-opioid pain management therapies. With the U.S. Congress addressing the opioid epidemic's meteoric rise in overdoses, ADHC's management team feels neuro-stimulation therapies such as the ARACIS™ TENS therapy for chronic migraine treatment, will be well received by both the patient community and the healthcare industry as a whole," commented ADHC. "The up listing to the OTC-QB will provide transparency to Wall Street and serve to fully enable ADHC to provide the support needed to develop AURACIS to its fullest potential. We have been monitoring numerous large bio-device firms acquiring R and D firms to fill their pipeline of product offerings. We believe non-opioid therapies have a major role in the future of medicine and the market is primed for the AURACIS™ device to achieve success," concluded ADHC.
Shareholders will be updated on more developments in the near future as ADHC continues to progress.
For more information: www.brazosbio.com
About American Diversified Holdings Corporation
ADHC is a holding company that provides executive management, corporate governance, administrative support, financial advice, and introductions to capital sources to various micro-cap private and public companies that have proven revenues and business models.
About Brazos Biomedical, LLC
Brazos Biomedical is a biomedical device development company utilizing electrostimulation for pain management to improve patient outcomes through creative innovation with a core competency in the migraine and headache pain space.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the Company's plans to change and are in no way intended to guarantee that the Company will be successful in executing its plans. American Diversified Holdings (ADHC) common stock currently trades on the over-the-counter under the symbol ADHC. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of ADHC, and no reference has been made that this release contains all information
SOURCE American Diversified Holdings Corporation