SOURCE: Avitech LifeSciences Inc.

September 10, 2007 09:00 ET

Avitech LifeSciences Inc. Signs Joint Venture Agreement With North American-Based Biotechnology Firm

DENVER, CO--(Marketwire - September 10, 2007) - Avitech LifeSciences Inc. (PINKSHEETS: AVLF) has signed an indenture to enter into a Joint Venture Agreement with a North American-based clinical biotechnology firm. Under the conditions of this agreement, Avitech LifeSciences Inc. will be entitled to 50% of the revenues from the distribution of a confidential product that is currently being tested as a treatment for various types of cancer.

Avitech LifeSciences Inc. will provide additional details of the product when the Joint Venture Partners obtain final patent pending approvals and all necessary confidentiality requirements are fulfilled.

About Avitech LifeSciences Inc.

Avitech LifeSciences Inc. is a firm focused on health and life sciences industry. Avitech helps entrepreneurs accelerate their business development by investing early in the company's development and taking an active role in its day to day operations by acting as collaborative partners with the companies we bring on board. Although Avitech LifeSciences Inc.'s primary mandate is the health and life sciences sector, the company's mandate will allow it to look at all investments to increase shareholder value.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

  • Contact:
    Avitech LifeSciences Inc.
    Terri Miller
    President
    Tel: (303)-865-7601