Environmental Tectonics Corporation's Institutional Review Board (IRB) Receives Confirmation from NASA Langley IRB
May 21 2009 - 3:00PM
PR Newswire (US)
SOUTHAMPTON, Pa., May 21 /PRNewswire-FirstCall/ -- Environmental
Tectonics Corporation (NYSE Amex: ETC) ("ETC" or the "Company")
announced that on March 6, 2009, following two days of review, ETC
received confirmation of acceptance of the ETC IRB proceedings from
the NASA Langley IRB. This approval demonstrates ETC's and its
NASTAR Center's capability to conduct research in a manner
consistent with federal procedures and regulations regarding human
subjects. In efforts to complete an aircraft Upset Recovery
research project funded by NASA Langley and to mature research
processes as a whole, ETC entered into a grant agreement that
required review by an Institutional Review Board (IRB). ETC elected
to form and go through the process to certify an Institutional
Review Board (IRB). The function of the IRB is to ensure that
NASTAR Center protects the safety, health, privacy, and welfare of
human subjects who participate in NASTAR Center research projects
in accordance with the regulations and policies prescribed by the
Code of Federal Regulations for the Protection of Human Subjects
and NASA Policy Directives for the Protection of Human Research
Subjects. ETC was required to go through a formal application
process with the U.S. Department of Health and Human Services and
to conduct training of the IRB members to certify the IRB. IRB
review is required for research that involves participation by
human subjects. On February 16th, 2009 the ETC IRB officially
convened to approve the Upset Recovery research to be conducted
under the grant funded by NASA Langley. The IRB approved all
aspects of the experiment. The grant also required that any ETC IRB
proceedings also be approved by the NASA Langley IRB. ETC received
confirmation of acceptance of IRB proceedings following only two
days of review. This demonstrated ETC and NASTAR Center's
capability not only to conduct research but to do so in a manner
consistent with federal procedures and regulations regarding human
subjects. In addition, future customers now have the option of
having their research approved at ETC rather than going through the
process of convening their own costly IRB process. William F.
Mitchell, ETC's President and Chairman, stated, "The accepted
findings of ETC's IRB are an important step in establishing the
NASTAR Center as a world class training and research facility." ETC
was incorporated in 1969 in Pennsylvania and this year we will
celebrate our 40th anniversary. Our core technologies include the
design, manufacture and sale of Training Services (TSG) which
includes (1) software driven products and services used to create
and monitor the physiological effects of flight; (2) high
performance jet tactical flight simulation; (3) driving and
disaster simulation systems, and Control Systems (CSG) which
includes: (1) steam and gas sterilization; (2) testing and
simulation devices for the automotive industry; (3) hyperbaric and
hypobaric chambers. Product categories included in TSG are Aircrew
Training Systems (ATS) and flight simulators, disaster management
systems and entertainment applications. CSG includes sterilizers,
environmental control devices and hyperbaric chambers along with
parts and service support. This press release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on ETC's current expectations and projections
about future events. These forward-looking statements are subject
to known and unknown risks, uncertainties and assumptions about
ETC's and its subsidiaries that may cause actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. These forward-looking statements include statements
with respect to the Company's vision, mission, strategies, goals,
beliefs, plans, objectives, expectations, anticipations, estimates,
intentions, financial condition, results of operations, future
performance and business of the company, including but not limited
to, (i) potential additional funding by H.F. Lenfest, a member of
our Board of Directors and a significant shareholder and PNC Bank,
(ii) the delisting of the Company's common stock from the NYSE AMEX
LLC (formerly the American Stock Exchange) (iii) projections of
revenues, costs of materials, income or loss, earnings or loss per
share, capital expenditures, growth prospects, dividends, capital
structure, other financial items and the effects of currency
fluctuations, (iv) statements of our plans and objectives of the
Company or its management or Board of Directors, including the
introduction of new products, or estimates or predictions of
actions of customers, suppliers, competitors or regulatory
authorities, (v) statements of future economic performance, (vi)
statements of assumptions and other statements about the Company or
its business, (vii) statements made about the possible outcomes of
litigation involving the Company, (viii) statements regarding the
Company's ability to obtain financing to support its operations and
other expenses, and (ix) statements preceded by, followed by or
that include the words, "may," "could," "should," "looking
forward," "would," "believe," "expect," "anticipate," "estimate,"
"intend," "plan," or the negative of such terms or similar
expressions. These forward-looking statements involve risks and
uncertainties which are subject to change based on various
important factors. Some of these risks and uncertainties, in whole
or in part, are beyond the Company's control. Factors that might
cause or contribute to such a material difference include, but are
not limited to, those discussed in the Company's Annual Report on
Form 10K for the fiscal year ended February 27, 2009, in the
section entitled "Risks Particular to Our Business." Shareholders
are urged to review these risks carefully prior to making an
investment in the Company's common stock. The Company cautions that
the foregoing list of important factors is not exclusive. Except as
required by federal securities law, the Company does not undertake
to update any forward-looking statement, whether written or oral,
that may be made from time to time by or on behalf of the Company.
Contact: Duane D. Deaner, CFO Tel: 215-355-9100 (ext. 1203) Fax:
215-357-4000 ETC - Internet Home Page: http://www.etcusa.com/
DATASOURCE: Environmental Tectonics Corporation CONTACT: Duane D.
Deaner, CFO, +1-215-355-9100, ext. 1203, Fax: +1-215-357-4000 Web
Site: http://www.etcusa.com/
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