BINC News. Didn't know if you saw this or not.
11:43 AM PRN Biospherics Reports on Tagatose Update
Biospherics Reports on Tagatose Update Meeting
November 3, 1999 11:43 AM
BELTSVILLE, Md., Nov. 3 /PRNewswire/ -- Biospherics Incorporated BINC , Beltsville, Maryland, today reported that it had a tagatose update meeting on November 1, 1999, with its licensee, MD Foods Ingredients amba (MDFI) of Denmark. The meeting was held in Beltsville as part of the existing contractual agreement with the two companies, which provides for three meetings per year, one at Biospherics' headquarters.
MDFI's officials reported on the commercialization of tagatose, Biospherics' low-calorie, full-bulk sweetener licensed to the Danish company for use as a food ingredient, as well as the Danish firm's pending merger with Arla of Sweden.
In their report, MDFI officials stated that the merger with the Swedish dairy company to form Arla Foods would have only positive effects on the commercialization of tagatose, bringing additional assets and resources to MDFI.
Dr. David Affeldt, Executive Vice President of Biospherics, said that the commercialization strategies discussed by the two companies are "aggressive and on track". MDFI reported on several new strong customers, with a focus on World markets, in addition to the United States. It was announced that MDFI would be participating at the PMCA (Pennsylvania Manufacturing Confectioners' Association) conference in May of 2000 in Hershey, Pennsylvania.
The MDFI officials stated there was progress with the GRAS (Generally Recognized As Safe) process for tagatose, stating that they believe that they are successfully approaching a positive resolution. Process improvements for manufacturing tagatose were also reported. MDFI officials also reported that they have begun the approval process for tagatose in Europe and other countries.
The news of MD Foods' search for a partner for the production of tagatose was a key topic of discussion. MD Foods' officials said that, because of the magnitude and potential of the project, it makes good sense to seek a strategic partner specific to the production of tagatose. At this time, they declined to confirm talks with specific companies.
Dr. Gilbert V. Levin, Biospherics' President and CEO, said "MD Foods re- confirmed its absolute commitment to the commercialization of tagatose and maintains its confidence in acquiring GRAS status. We see the gained resources of Arla and the possible partnering with a larger market player as affirming the deep market penetration and widespread use anticipated for the product."
Under its motto, "Technologies for Information and Health," Biospherics' mission is to provide guidance and products to improve the quality of life. Biospherics offers telecommunications call centers, information systems, database management, and proprietary food and medical innovations.
Their Internet address is: biospherics.com.
|
