Nanophase Announces Development Agreement with Schering-Plough For New Products
July 27, 1998 04:13 PM
BURR RIDGE, Ill., July 27 /PRNewswire/ -- Nanophase Technologies Corporation NANX , a leader in developing and marketing advanced materials using nanocrystalline compounds, today announced an agreement with Schering-Plough Healthcare Products, Inc. SGP pursuant to which Schering-Plough is exploring development of new consumer product formulations using Nanophase's NanoGard(R) Zinc Oxide as appropriate. Previously, Schering-Plough adopted Nanophase's NanoGard(R) Zinc Oxide for use in a new line of Dr. Scholl's aerosol foot-care products. Under the previous arrangement, Schering-Plough acquired exclusive rights to NanoGard(R) Zinc Oxide in foot-care markets. Under the new arrangement, Schering-Plough was granted a six-month option on exclusive rights to use NanoGard(R) Zinc Oxide in the additional specific health-care markets.
Jody DuFort, Nanophase's Director of Marketing Operations, stated that the development program with Schering-Plough was expected to continue through the balance of 1998 and, if successful, would probably lead to a year or more of clinical and manufacturing trials before a finished product could be released. "While there can be no assurance of success in product-development programs such as these," Ms. DuFort said, "we are building on an excellent relationship with Schering-Plough, and we are optimistic about the outcome of this program."
Nanophase Technologies Corporation develops and markets engineered advanced materials for a variety of product applications in the electronics, structural ceramics, cosmetics and industrial catalysts industries. Using proprietary technology to alter materials at the molecular level, the company creates products with unique performance attributes. The company's global customer base includes a number of Fortune 500 companies. Nanophase trades on the Nasdaq NMS under the symbol "NANX." Visit the company's web site at www.nanophase.com
Statements contained in this news release that are not historical facts are forward looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results for future periods to differ materially from those expressed in this news release. These important factors include, without limitation: demand for, and acceptance of, the Company's nanocrystalline materials; changes in development and distribution relationships; the impact of competitive products and technologies; and other risks indicated in the Company's Annual Report on Form 10-K for the year ended December 31, 1997, as filed with the Securities and Exchange Commission. Nanophase undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
For Additional Information on Nanophase Technologies by fax at no cost, Dial 800-PRO-INFO, Code NANX
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