NEW YORK, Aug. 2, 2005 (PRIMEZONE) -- Amazon Biotech, Inc. (OTCBB:AMZB) today announced that it has acquired the rights to purchase a controlling interest in EZ Orthopedics, a medical orthopedics device company for $8,000. This option will expire as of the close of business on September 8, 2005. Should Amazon exercise this right, it will pay EZ Orthopedics a combination of $1,200,000 and 1 million shares of Amazon common stock of which $400,000 and 400,000 Shares will be payable upon closing of the purchase with the remainder to be paid over the 18-month period following closing, subject to satisfaction of enumerated milestones.
EZ Orthopedics was founded in 2004 by Dr. Yosef Freedland -- a Sports Medicine orthopedic surgeon with extensive experience in orthopedics. EZ Orthopedics products focus on novel, simple mechanical solutions to very common, often complex, orthopedic procedures. EZ Orthopedics has already received FDA approval for one of its devices and has a comprehensive patent portfolio. Significant revenues from these products are projected to begin within the next two years.
Dr. Mechael Kanovsky, President of Amazon Biotech, said, "Amazon Biotech, Inc. is seeking ways to develop a more immediate revenue stream for the company and this looks like a very good opportunity to achieve this goal."
About Amazon Biotech, Inc.
Amazon Biotech, Inc. is a natural plant pharmaceutical drug company, primarily developing immune modulator drugs. AMZ 0026 is the Company's first such drug to be used for the treatment of HIV/AIDS. The Company intends to initiate Phase I/II clinical studies of AMZ 0026 shortly, with an eventual goal of a joint venture with a major pharmaceutical company in Phase III trials, or follow the FDA Fast Track program to market. Amazon Biotech specializes in natural plant pharmaceutical drugs and is focused on bringing healthier pharmaceutical drugs to market. Additional information on Amazon Biotech may be found at www.amazonbiotech.com.
Forward-Looking Statements
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