LONDON, UNITED KINGDOM--(Marketwired - Dec. 5, 2013) - Allerayde SAB, Inc. (OTCQB:ASAB) today announced that the company achieved second place in the prestigious Galileo Masters Competition organized by the European Space Agency.
This international event attracted over 400 entries worldwide. Entry in to the competition is based on new, commercially viable uses for the European network of geo-positional satellites.
As a result of the success in the competition ASAB has been invited to have its R & D Centre at the Rutherford Appleton Laboratory, Harwell, Oxford, UK and has been given access to leading research centres in the UK specialising in geo-spatial technologies.
Allerayde SAB, a company that provides "auto-injectors" which provide adrenaline or epinephrine for people who experience anaphylactic shock, for instance in an allergic reaction. When the pen-shaped injectors are used, patients should seek medical attention to prevent further complications from the shock. The new idea, as submitted in the Galileo competition, is to fit the pens with sat-nav electronics that, when used, alert a local "angel centre" of the user's location via a mobile phone network.
"Achieving second place in the Galileo Masters competition, after peer review by Europe's leading geo-positional experts, has confirmed our belief in both the need for and feasibility of the product," said Mr. Michael Rhodes, CEO of Allerayde SAB, Inc.
"Success in the Competition has also given us access to the technical resources of the European Space Agency. We believe that the success of this device will be measured by the extra lives it will save," Mr. Rhodes added.
About Allerayde SAB, Inc.:
Allerayde SAB, Inc. is engaged in the business of developing and manufacturing an innovative anaphylaxis pen product and other consumer health care products for allergy and eczema patients.
The Company's principal product is the AAAPen®. The AAAPen® is a new epinephrine/adrenaline pen for the emergency treatment of anaphylaxis, the severe allergic shock, which may be identified by various rapid onset symptoms following exposure to certain allergens-such as insect venoms, peanuts, seafood, latex, etc.- that have caused symptoms from different level reactions. When the first signs of anaphylaxis being experienced, the AAAPen® shall be used.
Allerayde is also engaged in developing and manufacturing products for the prevention and relief of allergy, asthma and eczema.
Allerayde SAB, Inc. trades on the Over the Counter Market with the ticker symbol ASAB. For more information about the company please visit our website at www.alleraydesab.com.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward‐looking public statements concerning its expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such.
Forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete an acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.