IAGX... up .30 to 2.65
I especially like the part about the first 12 months revenue of between $10 and $15 million. They were late last quarter and looks like they are late again with filing. Should see it any time now.
Imagenetix Licenses Patent Related to Body Fat Control; Commercialization of Fat Reduction Product to Commence Immediately
November 16, 2005 08:30:02 (ET)
SAN DIEGO, Nov 16, 2005 (BUSINESS WIRE) -- Imagenetix, Inc. (IAGX, Trade), an innovator of scientifically tested, natural-based, proprietary bioceutical products that enhance human health, today announced it has signed a license agreement with the University of Minnesota for the exclusive rights to the University's recently awarded patent covering a natural compound for lowering the body's levels of leptin, a circulating hormone that regulates fat storage.
The compound, branded as Lepitrim(TM), will be marketed immediately by Imagenetix and its distribution partners across the U.S. and Canada.
Product revenue to Imagenetix during the first 12 months is expected to be between $10 and $15 million, said the company.
Lepitrim(TM) is not a drug, but is comprised of natural polysaccharide compounds which have been found in animal studies conducted at the University of Minnesota to lower serum leptin levels and reduce stored body fat with no side effects.
Imagenetix CEO William P. Spencer said: "We are very excited about the results of recent research on the role of leptin in fat utilization and regulation. We believe that Lepitrim(TM) will provide immediate and longer term assistance to the countless number of individuals that have tried and failed to lose body fat using other weight management programs.
"We have therefore begun to initiate comprehensive distribution and marketing strategies for Lepitrim(TM) with our marketing partners and are optimistic the product will carve out a significant market niche for years to come."
According to the National Center for Health Statistics, 65 percent of Americans are either overweight or obese.
In 2004, nearly $150 billion was spent in the U.S. on obesity-related products.
Imagenetix, Inc. (IAGX), www.imagenetix.net, develops, formulates, private-labels, and produces nutritional supplements, over-the-counter topical creams, skin care products and pharmaceuticals for inflammatory-related markets. |
