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IGG International, Inc. Submits Lead Agricultural Compound for EPA Review
PR Newswire - January 23, 1997 10:19
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Company Reports Results of New Field Trials
CAMBRIDGE, Mass., Jan. 23 /PRNewswire/ -- IGG International, Inc.
(NASD OTC Bulletin Board: IGGI) and its subsidiary, Agricultural Glycosystems,
Inc., is pleased to announce that it has submitted a pesticide registration
application to the EPA on its lead agricultural compound, ELEXA. ELEXA is a
naturally-derived carbohydrate compound that has shown in greenhouse studies
and field studies the ability to defend a wide range of crops from attack by
many types of fungi. ELEXA has very low toxicity and minimal impact on the
environment.
In addition, the Company announced results of several recently completed
independent field tests conducted on ELEXA. The results strongly suggest that
Elexa can control damaging fungal diseases on rice, cucumbers and potatoes.
The results also confirmed previously announced positive results on
controlling fungi on treated grape vines. The studies demonstrated that ELEXA
can provide a level of protection against fungal infestation equal to or
greater than the protection provided by a commonly used commercial chemical
fungicide. The Company noted, however, that the level of natural fungal
infection during these studies was lower than normal due to weather
conditions.
"Carbohydrates are considered by many to be the new frontier for
discovering biologically active molecules for development of agricultural and
therapeutic products. This application submission to the EPA is a major
milestone in IGG's carbohydrate product development program for agricultural
products," stated Bradley Carver, President of IGG International. "We expect
approval to market ELEXA in late 1997."
Agricultural Glycosystems, Inc. is the wholly-owned subsidiary of IGG
International, Inc. focused on developing and commercializing carbohydrate
compounds, derived from naturally occurring substances, that have demonstrated
an ability to improve plant resistance to fungal infection.
IGG International, Inc. is a leader in the development of complex
carbohydrate compounds, derived from naturally occurring substances, for
pharmaceutical and agricultural applications. IGGI has two wholly-owned
operating subsidiaries: International Gene Group, Inc. and Agricultural
Glycosystems, Inc. Further information is available on IGG's web site:
www.iggint.com.
Any statements contained in this release that relate to future plans,
events or performance are forward-looking statements that involve risks and
uncertainties, including, but not limited to, risks of product nonapproval or
delays by the EPA or foreign regulatory authorities, product development and
market acceptance risks, the impact of competitive products and pricing, the
results of current and future licensing and other collaborative relationships,
the results of financing efforts, developments regarding intellectual property
rights and litigation, and other risks identified in the Company's Securities
and Exchange Commission filings. Actual results, events or performance may
differ materially. Readers are cautioned not to place undo reliance on these
forward-looking statements, which speak only as the date hereof. The Company
undertakes no obligation to publicly release the results of any revisions to
these forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
SOURCE IGG International, Inc.
CONTACT: Richard Salter, V.P., Corporate Development of IGG
International, Inc., 617-621-3133 or Doug MacDougall of Feinstein Partners
Inc., 617-577-8110 |
