CB Scientific, Inc. Executes Manufacturing Letter of Intent with Shenzhen Pump Medical System Co., Ltd.

Rhea-AI Summary

CB Scientific (OTC PINK:CBSC) has announced a partnership with Shenzhen Pump Medical System Co., Ltd. to manufacture medical products aimed at the Southeast Asian market. This collaboration is crucial for establishing local manufacturing capabilities and securing necessary FDA and NMPA approvals. CEO Charles Martin emphasized the importance of this relationship for regulatory validation and gaining access to regional distribution channels. The company plans to provide updates on future developments to shareholders and the public.

Positive

• Partnership with Shenzhen Pump Medical System enhances manufacturing capabilities.
• Facilitates obtaining FDA and NMPA regulatory approvals.
• Access to established distribution channels in Southeast Asia.

Negative

• None.

Partnership to provide high volume manufacturing capability and facilitate obtaining requisite government approvals

ESCONDIDO, CA / ACCESSWIRE / December 7, 2021 / CB Scientific. Inc. (OTC PINK:CBSC) ("CBSC" or the "Company") announced Shenzhen Pump Medical System Co., Ltd. (SPMS), a leading Chinese developer, manufacturer, and distributor of medical equipment and devices focusing on cardiovascular diagnostic systems, has issued a formal Letter of Intent to manufacture the Company's products targeting key Southeast Asia markets including China, Malaysia, Thailand, Indonesia, and Singapore.

"This critical collaboration is indispensable, not only by establishing a prominent local manufacturing relationship in the region, but also in terms of securing validation from the U.S. Food and Federal Drug Administration (FDA), and seeking approval by the National Medical Products Administration (NMPA), previously the China Food and Drug Administration (CFDA), which is the institution responsible for pharmaceuticals and medical device regulations in China," said Charles Martin, Chief Executive Officer of CBSC. "Beyond the obvious manufacturing and regulatory approval advantages gained through this valuable relationship, the cooperative alliance will also provide multiple gateways directly into existing distribution channels throughout the region once we commence full-rate production."

As additional new developments occur, CB Scientific, Inc. plans to make timely announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.

About CB Scientific, Inc.
CB Scientific, Inc., through its domestic and international subsidiaries, provides innovative products and services in the ambulatory non-invasive cardiac monitoring space. Our FDA and CE cleared EKG devices, interactive cloud-based acquisition software, and smartphone apps for both iOS and Android platforms provide improved compliance for patients at risk of abnormal heart rhythms, as well as more accurate information for physicians.

Company Contact Information:
Telephone: (888) 225-0870
Email: General Inquiries: info@cbscientificinc.com
Investor Inquiries: Robert Hesse - dorchco.bh@gmail.com
Follow CBSC: Twitter, Facebook, Instagram, LinkedIn, YouTube, and Newsletter

This information disclosure may contain forward-looking statements covered within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions, and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.

SOURCE: CB Scientific, Inc.

View source version on accesswire.com:
https://www.accesswire.com/676305/CB-Scientific-Inc-Executes-Manufacturing-Letter-of-Intent-with-Shenzhen-Pump-Medical-System-Co-Ltd

FAQ

What is the recent partnership announced by CBSC?

CBSC announced a partnership with Shenzhen Pump Medical System to manufacture medical products for the Southeast Asian market.

How will the partnership benefit CB Scientific?

The partnership will enhance manufacturing capabilities, facilitate FDA and NMPA approvals, and provide access to distribution channels.

Which markets is CBSC targeting with its new manufacturing capabilities?

CBSC targets key Southeast Asian markets including China, Malaysia, Thailand, Indonesia, and Singapore.

What does the Letter of Intent between CBSC and Shenzhen Pump Medical System signify?

The Letter of Intent signifies a commitment to collaborate in manufacturing and navigating regulatory processes for medical devices.