GalaGen Inc. Announces Collaboration With General Nutrition Corporation for Product Development and Retail
Marketing of Proventra
PR Newswire, Tuesday, January 19, 1999 at 09:52
ARDEN HILLS, Minn., Jan. 19 /PRNewswire/ -- GalaGen Inc. (NASDAQ:GGEN)
today announced an exclusive collaboration agreement with General Nutrition
Corporation, Inc. ("GNC") (NASDAQ:GNCI) for product development,
manufacturing, supply and retail marketing of its Proventra(TM) Brand Natural
Immune Components ("Proventra").
Under this agreement, GalaGen and GNC will develop and market a range of
immune-enhancing dietary supplements and sports nutrition formulas for
specialized retail and mass-market retail channels using certain proprietary
formulations of Proventra. Proventra contains immune-enhancing antibodies
derived from colostrum, the highly nutritious first milk from dairy cows. The
Company will sell Proventra to General Nutrition Products, Inc., the
manufacturing company of GNC, for incorporation into products for exclusive
distribution and retail marketing in North America by GNC, its affiliates,
franchisees and certain other stores in mass market channels. First products
are targeted for launch in the second half of 1999, following the initial
product development phase of the collaboration.
Robert A. Hoerr, M.D., Ph.D., Chairman and CEO of GalaGen Inc., said: "We
are delighted that General Nutrition Corporation has joined us as GalaGen's
primary force to develop and market a range of dietary supplements and sports
nutrition formulas that will incorporate Proventra. This relationship will
enable Proventra-based products to enter two major consumer channels, marketed
by the only nationwide specialty retailer of vitamin and mineral supplements,
sports nutrition and herbal products."
GalaGen Inc. is a nutritional products company that is utilizing its
proprietary immune boosting technology and patented manufacturing processes to
commercialize health-promoting foods and beverages. The Company continues to
expand applications for its Proventra Brand Natural Immune Components
technology and is developing a portfolio of Proventra-based products that
target the needs of consumers and the healthcare market.
General Nutrition Companies, Inc., which is based in Pittsburgh, Pa. is
the only nationwide specialty retailer of vitamin and mineral supplements,
sports nutrition and herbal products and is also a leading provider of
personal care and other health related products. The Company's products are
sold through a network of 3,898 retail stores operating under the General
Nutrition Centers, Health & Diet Centre, Nature's Fresh, GNC Live Well and
Amphora names, of which 2,566 are Company-owned and 1,332 are franchised. GNC
stores are located in all 50 States, Puerto Rico and 23 international markets.
Except for historical information, matters discussed in this press release
are forward-looking statements that involve risk and uncertainties, including,
but not limited to, risks associated with entering new markets, consumer
acceptance, regulation of nutritional products including infant formula and
dietary supplements, competitive pressures and other important factors
detailed in the Company's annual report on Form 10-K for fiscal 1997 filed
with the Securities and Exchange Commission.
SOURCE GalaGen Inc.
-0- 1/19/99
/CONTACT: Dr. Robert A. Hoerr, Chairman & CEO or Gregg A. Waldon, CFO of
GalaGen, 651-634-4230, or Investor Relations, Rebecca J. Young of Investor
Network Company, 888-887-6512 toll free, www.FinancialRelations.com/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 130485/
/Web site: galagen.com
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:GGEN
Galagen Inc
NASDAQ:GNCI
General Nutrition Cos Inc |
