DENVER, CO, June 7 /PRNewswire-FirstCall/ - Medical
International Technology Inc. (MDLH.OB) www.mitneedlefree.com is
pleased to announce its progress in China.
The first clinical trial required towards obtaining the Chinese
FDA approval was recently completed and the feedback of the results
is excellent. The second and final trial is scheduled to be
finalized within the coming 3 weeks, with Chinese FDA approval
still slated for July 2010.
MIT anticipates sales will grow at a
very fast pace starting in September. Mr Menassa and the Chinese
team revised the sales forecast for 2011 and the numbers are very
impressive. However, MIT will not
change its already published forecast for its sales in China to slightly exceed 2 Million in
2011.
Vice-President and Chief Strategic Officer, Dr Francis Bellido said "Obtaining Chinese FDA
approval is among the top 3 priorities of MIT for 2010. While Mr Menassa is working on fast
tracking China, I am focusing on
securing partnership with large pharmaceutical companies and
executing our commercialization plan. MIT's technology is the best in the world, we now
have to execute our plan with discipline and sales will take a
quantum leap in 2011. The third priority is to raise financing and
this will be in our next announcement".
MIT President and CEO, Mr
Karim Menassa, was on an Asian tour
for two weeks in May. The first stop was in Malaysia where he trained the MIT distributor targeting the medical market
including Hospitals, clinics and vaccination of school children.
MIT expects sales in Malaysia to grow significantly in
2010/2011.
The second event of the trip was to visit the Chinese Joint
Venture. Mr Menassa participated in a conference for Mesotherapy
named "The World leading needle-free Mesotherapy Anti-Aging
fortune", organized by its main distributor, which took place from
May 22 to 25, 2010 in Hangzou China.
More than 200 distributors looking to market and sell MIT injectors were present at the event. Mr Menassa
was invited as a speaker to present MIT Canada products and to
reinforce MIT China's credibility.
Finally, MIT wishes to improve its
communication with its shareholders. All future communications will
be posted on the Internet site (www.mitneedlefree.com) and sent
directly to anyone wishing to be on the company's distribution
list. If interested, please forward your e-mail address to
pr@mitcanada.ca
Medical International Technology Inc. is proud to continue
providing a safe and effective means to help prevent the spread of
deadly diseases to both humans and animals through the use of the
Med-Jet(R) and Agro-Jet(R) needle-free injection system.
About Medical International Technology, Inc. MIT CANADA, with offices in Montreal, is a subsidiary of Denver, Colorado-based Medical International
Technology, Inc. (MIT USA), which specializes in the development,
production, marketing and sale of needle-free injectors both for
humans and animals, for individual and mass vaccinations.
The statements which are not historical facts contained in this
press release are forward-looking statements that involve certain
risks and uncertainties, including but not limited to risks
associated with the uncertainty of future financial results,
additional financing requirements, development and acquisition of
new product lines and services, government approval processes, the
impact of competitive products or pricing a technological changes,
the effect of economic conditions and other uncertainties, and the
risk factors set forth from time to time in the Company's SEC
reports, including but not limited to its annual report on Form
10-KSB; its quarterly reports on Forms 10-QSB; and any reports on
Form 8-K. Medical International Technology Inc. takes no obligation
to update or correct forward-looking statements.
SOURCE MEDICAL INTERNATIONAL TECHNOLOGIES INC.