Global General Technologies Inc.
PINK SHEETS : GLGT

Global General Technologies Inc.

May 20, 2011 10:38 ET

AB Wuhan Biotech (GLGT) New Cooperation: Aiming FDA Approval

HENDERSON, NEVADA--(Marketwire - May 20, 2011) - Global General Technologies Inc.'s (PINK SHEETS:GLGT) (www.glgt-corporate.com) main subsidiary, AB (Wuhan) Biotech Co. Ltd., starts its cooperation for six products with Wuhan Zhongbo Biotech Co. Ltd. aiming state FDA approval. GLGT management also released a presentation about AB Wuhan to provide shareholders with more detailed information on the company.

Wuhan AB Biotech signed an agreement with Wuhan Zhongbo Biotech Co. Ltd., a large biotech company to transfer Wuhan AB Biotech technologies and associated products to Wuhan Zhongbo Biotech for collaborating in application for state FDA approval of products registrations including clinical trials for six animal diseases related IVD products in a row. The six products are canine distemper virus test kits, canine parvovirus virus test kits, rabies vaccine quality test kits, canine distemper antibody test kits, canine parvovirus antibody test kits, and rabies virus antibody test kits.

The payment schedule in this deal includes an initial payment and several payments on milestones along the clinical trials for each of the six products, as well as 6% of commissions from the product sales later on for four years.

In other company news, Wuhan AB Biotech Company PowerPoint has been publicized with Pink Sheets' "Research" Section (https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=51550). The presentation includes information and images of the AB Wuhan resources and facilities including production and sales permits and product registrations, core technologies and products including research and development, industrial advantages and information on the animal IVD market.

AB Wuhan wants to become more transparent and establish a better relationship with its investor base and feels that the best way of doing this is by sharing all possible information.

GLGT finalized its merger with AB Wuhan in April of this year. AB Wuhan develops, commercializes and popularizes advanced In Vitro Diagnostic (IVD) kits/devices to improve human health.

More details on company research, deals and corporate updates will follow shortly.

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