Friday January 9, 12:42 pm Eastern Time
Company Press Release
Harvard Scientific Management Enacts Corporate Restructuring
to Expedite Product Development
RENO, Nev.--(BUSINESS WIRE)--Jan. 9, 1998--Harvard Scientific Corp. (OTC BB:HVSF - news) a
Nevada corporation, announced Friday that its new World Headquarters has been established in Lake Mary,
Fla., and its administrative office has been relocated to a new address in Reno.
Also, in a recent meeting of the company's board of directors, resolutions were adopted to change its stock
transfer agency to Atlas Stock Transfer Corp., in Salt Lake City, and its new corporate registered agent is
Sierra Corporate Services, a service company provided by McDonald, Carano, Wilson, McCune, Bergin,
Frankovich & Hicks, LLP, in Reno.
The World Headquarters includes the offices of the company's President and CEO, Thomas E. Waite and his
staff, and is located at 755 Rinehart Road, Suite 100, Lake Mary, Fla. 32746. The telephone and fax number
are 407/324-1606 and 407/324-0664, respectively. The administrative office for Ms. Barbara Krilich,
Secretary and Curtis Orgill, Treasurer, is located at 100 N. Arlington Ave., Suite 380, Reno, Nev. 89501. The
telephone number is 702/786-9005 and fax number is 702/786-2137.
Company President and CEO, Thomas E. Waite stated: ''The changes were made to facilitate existing business
opportunities and are part of the new management team's ongoing efforts to streamline operations and further
enhance the company's ability to bring its products to market in a unified and expeditious manner. As President
and CEO, I am very pleased with our new management team's progress over the past 50-plus days in office.
All issues, specifically the science, legal and operational issues of the corporation, which have been identified as
potential successful pathways towards developing and marketing the company's products, have been prioritized
and addressed by the appropriate individuals or departments within our corporate structure. Our staff of
scientific consultants including Dr. Jackie See, Dr. Darryl See, Dr. Larry Hofmann and Dr. Irwin Goldstein, are
to be commended for their proficiency and dedication to our projects. At this time, we are well within our
planned timeline for the clinical trials on both products. Our Phase II protocols have been established for the
male erectile dysfunction and sexual enhancement product and we will initiate Phase II immediately upon the
FDA's approval to proceed. Dr. Darryl See is working with the FDA to establish Phase I protocols for the
company's psoriasis product.'' Industry analysts estimate that over 30-million individuals worldwide suffer from
psoriasis and the estimated annual market is in excess of $120-million.
Harvard Scientific Corp. is a biopharmaceutical company that develops products relating to liposomal delivery
of Prostaglandin E-1 for the treatment of male erectile dysfunction, impotency and sexual enhancement. The
company's patented process allows the Prostaglandin E-1 to be administered as a liquid via a painless delivery
system. The company also has developed a topically applied skin treatment for psoriasis and is working with
the FDA to establish Phase I clinical trials protocol for that product.
Prostaglandin E-1 is a naturally occurring vasodilator originally approved by the U.S. FDA for intravenous
infusion in neonates. PGE-1 was first approved by the FDA in 1995, for Upjohn's Caverject(r), a treatment for
male erectile dysfunction administered by needle injection and approved in November 1996, for Vivus Inc
[Nasdaq:VVUS - news].'s MUSE(r) delivery system. The company believes that its product represents a
tremendous treatment advantage over other delivery systems currently being utilized in the industry.
From time to time the company may issue forward looking statements which involve risks and uncertainties.
This statement may contain forward looking statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results
could differ and any forward looking statements should be considered accordingly.
Contact:
I.W. Miller & Co.
Ira Miller, 714/833-9001
or
Scopes, Garcia & Carlisle
Ellie Muth, 801/364-8720
or
Martin E. Janis & Co.
Hal Schweig, 312/943-1100 |
