VANCOUVER, British Columbia--(BUSINESS WIRE)--March 26, 2004--Forbes Medi-Tech Inc. (TSX:FMI - News; Nasdaq:FMTI - News) today announced that it has signed a licensing and distribution agreement for its cholesterol-lowering ingredient, Reducol(TM), with Marco Hi-Tech JV LLC of New York, N.Y. Under the terms of the co-exclusive four-year contract, Forbes will supply Reducol(TM) to Marco Hi-Tech for distribution to dietary supplement manufacturers. These manufacturers are expected to incorporate the ingredient into a variety of cholesterol-lowering supplements to be sold in natural health food stores across the United States.
"Marco Hi-Tech is a supplier of natural supplement ingredients targeting large demographic categories," said Mark Levitt, Vice President of Sales at Marco Hi-Tech. "The importance of cholesterol management is growing in light of new research concerning the cardiovascular benefit of lowering cholesterol beyond levels previously recommended by most physicians. A clinically proven, proprietary ingredient, such as Reducol(TM), is clearly an important product and carries a distinct advantage when targeting this burgeoning cholesterol-lowering market."
"Marco Hi-Tech is an established supplier, with a substantial amount of marketing expertise and access to sales distribution channels," said Jeff Motley, Vice President of Sales at Forbes Medi-Tech Inc. "This is an important step in the continued successful commercialization of Reducol(TM) as Marco Hi-Tech has the capabilities to penetrate this growing market."
About Marco Hi-Tech JV LLC
Marco Hi-Tech, headquartered in New York City with offices in China, has been developing and supplying quality bulk raw materials to the Nutritional and Dietary Supplement market since 1996. The Company's core business focus is to supply quality ingredients to fill the development pipeline in the Weight loss, Energy & Sports, Women's Health and Joint Care categories. Marco Hi-Tech is the largest supplier of Green Tea extracts in the U.S.
About Forbes Medi-Tech Inc.
Forbes Medi-Tech Inc. is a biopharmaceutical company dedicated to the research, development and commercialization of innovative prescription pharmaceutical and nutraceutical products for the prevention and treatment of cardiovascular and related diseases. Forbes' scientific platform is based on core sterol technology. By extracting plant sterols from by-products of the forestry industry, Forbes has developed cholesterol-lowering agents for use in pharmaceutical compounds, functional foods and dietary supplements.
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Forbes Medi-Tech Inc. Darren Seed, 604-681-8976 email@example.com www.forbesmedi.com
Source: Forbes Medi-Tech Inc.