Millennium Biotechnologies, Inc. Ships and Records the First $200,000 of Revenue Generated
BASKING RIDGE, N.J., Dec. 6 /PRNewswire-FirstCall/ -- Millennium Biotechnologies Inc., wholly owned subsidiary of Millennium Biotechnologies Group, Inc. today announced that the initial $200,000.00 monthly shipment from Millennium Biotechnologies, Inc. (MBI) to Provider Services, Inc. (PSI) under the previously announced $20,000,000 Five- year exclusive Purchase order was shipped. Millennium continues to develop a suite of Nutritional Products for the Long-Term Care channel. The suite of products includes but is not limited to Tube Feeding products.
PSI is Ohio's second largest services provider for the Long Term Care channel, with sales in excess of 300 million dollars, and provides services to over 12,000 residents.
"We have just begun to address the nutritional needs in the Long Term Care channel and are capable of modulating our product's patented composition to meet and/or exceed the formulary requirements in order to enhance the results at the patient level," stated Mark Mirken, President and Chief Operating Officer of Millennium Biotechnologies.
"The prevailing view of providing the cheapest form of nutrition possible is quickly fading," stated Brian Colleran, CEO of PSI. "In the first instance, because of its inability to stabilize and improve the resident, it is far from cheap and, more importantly, it does not enhance the resident's quality of life"
"The ability to develop products specifically for a channel growing in excess of 12% per annum with growth being accelerated by third-party pay is unquestionably a fertile and expanding market to Millennium Biotechnologies Inc.," stated Mirken.
About Millennium:
Millennium's three proprietary, marketed products, which form the Company's Resurgex(R) Continuum of Care, include Resurgex Select(R), Resurgex(R), and Resurgex Plus(R). Resurgex Select(R) is a whole foods-based, calorically dense, high-protein nutritional formula developed for cancer patients undergoing chemotherapy or radiation treatments. Resurgex(R) and Resurgex Plus(R) are specialized, anabolic nutritional supplements rich in antioxidants that provide nutritional support post-treatment. Millennium has also recently developed a Surgex(R) sports nutrition formula, clinically proven to address the nutritional concerns of both professional and amateur elite athletes. These athletes often experience similar symptoms post-workout to those battling immunocompromised conditions, such as fatigue, loss of lean muscle, oxidative stress, and reduced immune function.
Statements in this news release regarding future financial and operating results, future growth in R&D programs, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward- looking statements including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of the Company's intellectual property, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including Forms 10-KSB, 10-QSB, 8-K, and other forms filed with the Securities and Exchange Commission ("SEC").
CONTACT: Mark Mirken, President and Chief Operating Officer of Millennium
Biotechnologies Inc., +1-908-604-2500
Web site: http://www.milbiotech.com/