PHOENIX, Jan. 28 /PRNewswire/ -- GumTech International, Inc.
(Nasdaq: GUMM) announced today that it has signed a letter of intent with Gel
Tech, Inc. to form a Limited Liability Corporation (LLC) to market and
distribute ZICAM(TM), a new homeopathic cold remedy. Under the agreement,
GumTech will own a 60% interest in the joint venture.
The ZICAM(TM) product is a homeopathic nasal gel containing a patent-
pending ionic emulsification formula called Zinullose(TM). Initial clinical
research indicates that ZICAM(TM) significantly reduces the duration of the
common cold.
Researchers from Gel Tech, Inc. and Researchers with GumTech collaborated
on the development of the patent over the past eighteen months. Gel Tech,
Inc. is a privately held company specializing in the use of nasal gels for
delivering health care products. Initial orders are currently shipping to
selected retail outlets across the country.
GumTech develops, manufactures, and distributes specialty chewing gum
products designed to provide health benefits to consumers. The company
supports its own line of branded gums and partners with major food,
pharmaceutical, or marketing companies to develop and manufacture gum products
under contract manufacturing agreements. GumTech operates one of the most
advanced chewing gum manufacturing plants in the U.S. and is the only
stainless steel gum manufacturing facility registered with the Food and Drug
Administration to manufacture gum with over-the-counter drug products.
GumTech is located at 246 East Watkins Street, Phoenix, Arizona 85004.
(Nasdaq: GUMM) E-mail: brown@gum-tech.com
GumTech Forward-Looking Statement:
Certain forward-looking statements contained in this document, in
particular statements concerning the efficacy of ZICAM(TM), involve a number
of risks and uncertainties. Factors that could cause results to differ
materially from those implied by such statements include whether ZICAM(TM)
provides the benefits suggested by initial clinical research, whether
ZICAM(TM) will be accepted by the market, whether ZICAM(TM) becomes subject to
additional regulations, and whether ZICAM(TM) becomes subject to any
litigation involving patent rights, product liabilities or consumer issues.
SOURCE GumTech International, Inc.
-0- 01/28/99
/CONTACT: Colleen Tiffany of The Logan Consulting Group, Inc.,
716-244-7660, or logangpr@aol.com, for GumTech; or Brown Russell of GumTech
International, Inc., 602-252-1617, or brown@gum-tech.com/
/Web site: gum-tech.com
(GUMM) |
