News:
GUM TECH ANNOUNCES CLINICAL RESEARCH ON NEW ZICAM(TM) COLD REMEDY
PR NEWSWIRE - July 15, 1999 09:24
PHOENIX, Jul 15, 1999 /PRNewswire via COMTEX/ -- Gum Tech International, Inc. (Nasdaq: GUMM) and BioDelivery Technologies, Inc. announced today that their joint venture, Gel Tech LLC, has begun additional clinical testing of the new ZICAM(TM) Cold Remedy.
Gel Tech is currently selling ZICAM(TM) to or filling orders for major retail chains, including Fry's, Albertsons, Rite Aid, Eckerd Drug, Genovese, King Kullen, American Drug Stores, Basha's, Kroger and Wal-Mart. Initial clinical research has indicated that use of ZICAM(TM) can reduce the duration of the common cold from 12 -- 14 days to 1 -- 3 days.
According to R. Steven Davidson, CEO of Gel Tech, "Scientists at twomajor universities have begun work on the next phase of clinical research concerning the efficacy of ZICAM(TM). The research will have three objectives: confirming ZICAM(TM)'s ability to significantly reduce the duration of the common cold; exploring ZICAM(TM)'s ability to act as a preventive measure against the common cold and its symptoms; and testing ZICAM(TM)'s ability to relieve symptoms caused by allergic reactions to common airborne allergens."
Davidson continued, "The independent studies will be conducted at multiple sites according to rigorous scientific protocols. The research on ZICAM(TM)'s therapeutic and preventive benefits will be conducted by inoculating patients with a common strain of rhinovirus."
Davidson concluded, "Baring unforeseen delays, we anticipate that the research will be completed by the end of October, 1999."
Gum Tech develops, manufactures, and distributes specialty chewing gum products designed to provide health benefits to consumers. The company partners with major food, pharmaceutical, or marketing companies to develop and manufacture gum products under contract manufacturing agreements and supports its own line of branded gums. Gum Tech 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.
Gum Tech is located at 246 East Watkins Street, Phoenix, Arizona 85004. (Nasdaq: GUMM). E-mail: brown@gum-tech.com.
Gum Tech Forward-Looking Statement: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's anticipated growth in business and future results of operations. These forward-looking statements are based on the company's expectations and are subject to a number of risks and uncertainties, manyof which cannot be predicted or quantified and are beyond the company's control. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Factors that could cause actual results to differ materially from thecompany's expectations include lack of market acceptance for or uncertainties concerning the efficacy of ZICAM, delays in the development of clinical research onthe efficacy of ZICAM, less than anticipated demand for the company's chewing gum products, a decrease in the level of reorders from existing customers, financial difficulties encountered by one or more of the company's principal customers, difficulties in obtaining additional capital for marketing, research and development, and other expenses, the possibility of material charges incurred as a result of prior activities, aggressive pricing and marketing efforts by rival gum manufacturers, unavailability of third-party material products at reasonable prices, inventory obsolescence due to shifts in market demand, and material litigation involving product liabilities and consumers issues.
SOURCE Gum Tech International, Inc. (C) 1999 PR Newswire. All rights reserved. prnewswire.com -0-
CONTACT: Colleen Tiffany of The Logan Consulting Group, 716-244-7660,
for Gum Tech; or Brown Russell of Gum Tech International, 602-252-1617, or brown@gum-tech.com
WEB PAGE: gum-tech.com
GEOGRAPHY: Arizona
INDUSTRY CODE: MTC
SUBJECT CODE: JVN
PDT
News provided by COMTEX |
