GUMM - Eliminate the Common Cold Message Board

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Biotech / Medical : GUMM - Eliminate the Common Cold

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To: Street Walker who started this subject	3/17/2001 9:25:27 PM
From: Bo Didley	Read Replies (1) of 5582

ANNUAL SHAREHOLDERS MEETING ----- RESULTS GUMM management is doing what they said they would do... Last Annual shareholders meeting: PHOENIX, AZ, August 9, 2000/PRNewswire/ - Gum Tech International (Nasdaq: GUMM) today announced that its Board of Directors has approved a proposal to expand the Company's business strategy to target the drug delivery technology business. The announcement was made at the Company's Annual Shareholders Meeting, which was held here today.... The Company - which holds the right to acquire the remainder of Gel Tech -- plans to change its name to reflect this new business direction. The refocusing program will comprise the following initiatives: - The existing Board of Directors will be expanded through the addition of new directors who have established connections and expertise in the pharmaceutical and investment industries. - The existing Gum Tech/Gel Tech management structure will be reorganized - and enhanced, as appropriate - to facilitate research and development in the delivery system area. · New research scientists will be hired, as appropriate, and a new scientific advisory board will be created. · New business relationships and/or research agreements will be developed by leveraging current relationships within the industry, as well as new relationships within the Board of Directors. · The Company will consider acquiring or merging with existing drug delivery companies. "Drug delivery finds itself in a lucrative 'market-pull' situation," Mr. Russell said. "The pharmaceutical industry as a whole is clamoring for new technologies to be made available to deliver active ingredients that can increase compliance, efficacy and profits. We intend to capitalize on the opportunities represented by this trend as rapidly as possible."

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