i am going to make money on this stock sooner or later...but it is going to be there:
Nutraceutix Inc. Acquires Global Rights to Newly Issued Pharmaceutical Patent From Temple University
REDMOND, Wash.--(BW HealthWire)--Nov. 16, 2000--Nutraceutix Inc. (OTC BB: NUTX - news), has recently acquired the exclusive, worldwide rights to a newly issued patent (U.S. Patent No. 6,090,411) from Temple University School of Pharmacy, Philadelphia, for the development of controlled delivery, oral dosage forms of pharmaceuticals, Over-the-Counter (OTC) products, and dietary/health supplements (nutraceuticals).
This is the second drug delivery patent developed in the laboratory of Dr. Reza Fassihi, Ph.D., that has been licensed to Nutraceutix Inc., a leading provider of new technologies to the pharmaceutical, OTC, and nutraceutical industries.
This technology may be a milestone in delivery technology since it addresses many of the challenges common to delivery systems that are currently available. The new technology has been experimentally implemented into a range of established pharmaceuticals, such as nifedipine, theophylline, propanolol, diltiazem, and verapamil.
According to David T. Howard, president & chief executive officer of Nutraceutix Inc., ``This new patent provides Nutraceutix with a clear technological advantage over first generation, controlled delivery systems. We will seek to partner with major pharmaceutical, OTC, and nutritional companies to co-develop products incorporating Nutraceutix' technology platforms.''
Management anticipates that it will be late in the year 2001 before any revenues may be realized from this new acquisition.
Nutraceutix Inc. possesses proven technologies and products for the nutraceutical industry. In addition to patented ingredients like Calcium D-Glucarate, Nutraceutix provides patented and proprietary technologies like CDT(TM) Controlled Delivery Technology, MDT(TM) Molecular Dispersion Technology, S.E.T(TM) Self Emulsifying Technology and LiveBac® Probiotics.
Nutraceutix technologies provide distinctive supplements with tangible benefits for the consumer and competitive commercial advantages. For more information on Nutraceutix, please call 800/548-3222, or visit www.nutraceutix.com.
Except for any historical information, the matters discussed in this press release contain forward-looking statements, including activities, events or developments that the company expects, believes or anticipates will or may occur in the future. Such statements are subject to a number of assumptions, risks and uncertainties.
Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statement.
--------------------------------------------------------------------------------
Contact:
Nutraceutix Inc. |
