COSTA MESA, Calif.--(BUSINESS WIRE)--Cerebain Biotech (OTCQB: CBBT) today announced that the executive team of Cerebain Biotech Corp. is very pleased to provide an update on the progress of its medical device research and development made over the last year and an outlook of 2017.
- In April 2016, we announced our intention to seek FDA approval in conjunction with the development and testing of our medical device for the treatment of Alzheimer’s and Dementia. We have reached a decisive point in our research and are planning to commence development of the device.
- In May of 2016, we relocated our corporate headquarters from Dallas, Texas into the heart of Orange County in Costa Mesa, California. The decision to relocate was driven by the Company’s plan to seek FDA approval for our medical device for the treatment of Alzheimer’s and Dementia.
- In June 2016, we signed a Memorandum of Understanding with the Department of Neurodegenerative Diseases, Mossakowski Medical Research Centre in Poland. The purpose of the Memorandum of Understanding is to commence testing of Cerebain’s Medical Device once development is completed.
- The following summarizes Cerebain’s strategic plan for maximizing shareholder value over the coming months:
- Allocate resources to facilitate FDA strategy as it relates to further research and testing of Cerebain’s existing technology.
- Design a surgical manual to be used by doctors and clinicians for the purpose of implanting our medical device.
- Provide additional administrative and financial support to our scientists to leverage their time to advance our technologies as we near clinical trials.
Eric Clemons, President of Cerebain, stated “We would like to offer a heartfelt thank you to each and every shareholder: past, current, and future for your unwavering support of our company and for also taking the time to read this important shareholder update. We are extremely excited to continue to move forward with our development plan and to do everything in our power to eradicate Alzheimer’s disease while adding to shareholder value.”
About Cerebain Biotech Corp.
Cerebain Biotech (OTCQB: CBBT) is a development-stage medical device company focused on the creation and clinical development of a minimally invasive implantable device and a synthetic drug solution. The device leverages the clinically observable, positive impact that omentum stimulation has on cognitive function as related to dementias, and in particular, Alzheimer’s disease. The corporate vision is based on these positive clinical observations.
Forward Looking Statements
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