DEL MAR, Calif., Aug. 1, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (OTC: ADHC) announced today its operating unit Brazos Biomedical has completed a "USE OF FUNDS" projected costs analysis for the development of its migraine management therapy AURACIS. Management has met with medical device engineering firms and have done an exhaustive analysis of the AURACISTM TENS Migraine therapy system including all the patents and patent applications in the US and abroad, patent license agreement, technical engineering schematics, FDA plans, patient study information and other related assets. Current estimates are $2mm to complete all prototype development and FDA compliant market image product development clinical use. Barring any unforeseen issues management believes the $2mm budget should be adequate for all proposed costs over a 24month time frame. Brazos Biomedical is currently meeting with institutional investors to devise a financing strategy to successfully bring The AURACIS product to market.
Investors can find a complete overview of all the AURACIS information on the www.BrazosBiomedical.com website.
As a Holding Company ADCH is uniquely suited to expand into other sectors outside of the Bio-device arena. The cannabis sector has shown some clear market acceptance as evidenced by the recent NASDAQ IPO of Canadian cannabis firm Tilray Inc. The company raised over $153mm and reached $2 billion valuation. Large US based private equity firms are listed as major shareholders of Tilray. Additionally, a GW Parma recently received FDA approval for its pediatric epilepsy drug Epdiolex using cannabis extracts. Along with the current US administration apparent softening of its' stance on federal Cannabis regulation ADHC continues to monitor the cannabis sector seeking opportunities in the sector. Current legislation is pending in congress that will federally legalize cannabis. ADHC has received a proposal from a prominent Cannabis manufacturing company to supply the company with high quality cannabis products for potential pain management therapy. Other acquisition candidates are under review. Management believes the NON-OPIOID pain management markets for Migraine and other chronic pain conditions are highly attractive is todays current environment. ADHC is currently assessing the federal regulatory environment and current medical research protocols to determine if an acquisition in the area is suitable.
ADHC will keep shareholders informed as events progress.
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.
BRAZOS BIOMEDICAL LLC is a bio device company utilizing electro stimulation 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. 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.
Contact: [email protected] Tel: 858-259-4534
SOURCE American Diversified Holdings Corporation