WASP - MIDVALE, Utah--(BUSINESS WIRE)--Sept. 8, 1999--Previous
announcements have indicated ongoing funding from investment banking
sources providing funds for the expansion of Wasatch Pharmaceutical
Inc. (OTC BB:WASP).
As of Sept. 2, 1999, Wasatch has received funds sufficient to
carry forward its plans as previously announced, including, and most
importantly, its application with the FDA for seven over-the-counter
products. Further, by Oct. 1, 1999, it is anticipated that an
additional $1 million to $2 million will be received to apply to
pursuit of other strategic goals. These include the areas of Web
sites, contracts with health care providers and additional clinics and
staff.
Wasatch is a development-stage company engaged in research in the
field of dermatology. It has developed a technology that treats acne,
eczema and other common skin disorders without the undesirable side
effects often associated with prescription drugs. Having successfully
treated hundreds of patients in two prototype medical skin care
clinics for over five years, the Company is positioned to expand its
clinic operation and to introduce seven over-the-counter products
subject to FDA approval.
NOTE: Any statements released by Wasatch Pharmaceutical Inc. that
are not strictly historical are forward-looking statements pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Editors and investors are cautioned that forward-looking
statements invoke risk and uncertainties that may affect the company's
business prospects and performance. These include economic,
competitive, governmental, technological and other factors discussed
in the company's filings with the Securities and Exchange Commission.
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CONTACT: Wasatch Pharmaceutical Inc., Midvale
Gary Heesch, 801/272-1709
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