Medical Discoveries, Inc., and Advanced Bio-Technologies Establish New 'Cosmeceuticals' Joint Venture Company
PR Newswire - June 05, 1998 12:48
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LAYTON, Utah, June 5 /PRNewswire/ -- Medical Discoveries, Inc., (OTC Bulletin Board: MLSC) announced it has agreed in principle with Advanced Bio-Technologies, Inc., to establish a new company, Regenere(TM) Inc., (pronounced "ray jen air", French meaning "to revitalize"). Regenere(TM) will focus on the development and commercialization of a new generation of patented wound care and skin repair "cosmeceuticals" for repairing, restoring and revitalizing damaged skin.
Advanced Bio-Technologies, Inc., ("ABT") of Silverdale, Washington is a privately held corporation specializing in the research, development and sales of silicone based wound treatment and related skin care products. The company's flagship product is Kelo-cote(R) a clinically proven silicone topical gel which aids in the rapid healing and reduction of scar tissue resulting from cuts, burns and abrasions, as well as effectively and dramatically reducing the appearance of older scars.
Medical Discoveries, Inc., ("MDI") through its Japan and USA based research and development teams, has been developing a new generation of wound cleansing and skin care products based on its proprietary core technologies.
MDI and ABT are transferring their existing skin care products into Regenere(TM), Inc., and will focus combined research and product development into additional innovative products for wound healing and skin care.
ABT President and CEO, Alvin S. Berlat explained "Kelo-cote(R) is a unique product which protects wounds and promotes rapid healing, and has the proven ability to reduce the appearance of older scars. Unlike "silicone sheeting" products which must be taped over the scar, Kelo-cote(R) is a gel which when applied becomes invisible, allowing the skin to breath while acting as a barrier to waterborne bacteria. Kelo-cote(R) is the only patented product of its type available. The formation of Regenere(TM) enables us to introduce a complete "cosmeceutical system" for wound care and skin repair."
"The creation of Regenere(TM) represents a commitment to become the world's leading innovator and supplier of a new generation of "cosmeceuticals" targeted at repairing, restoring and revitalizing damaged skin," stated MDI President and CEO, Lee F. Kulas. "This joint venture brings both MDI and ABT to share technologies, collaborate on scientific research, and energize product development and rapid introduction in the fast growing "cosmeceuticals" marketplace and is the first step of a corporate strategy to move certain aspects of our core technologies into consumer focused, revenue producing, emerging markets, while pursuing FDA approvals on our MDI-P compound targeted at anti-bacterial, anti-fungal and anti-viral (HIV/AIDS) applications."
SOURCE Medical Discoveries, Inc.
/CONTACT: Press only: Alvin S. Berlat of Advanced Bio-Technologies, Inc.,
360-698-2266, or Analysts Only: Marlin Toombs, Director, Investor Relations of
Medical Discoveries, Inc., 801-771-0523/
/Web site: mdi-p.com
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