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OnSource Corporation (OSCE.OB) Announces Letter Of Intent To Merge With Osmotics Pharma, Inc.; Provides For Entry Into Specialty Pharmaceuticals


10/19/2005 5:12:16 PM

BOULDER, Colo.--(BUSINESS WIRE)--Jan. 14, 2005--OnSource Corporation ("OnSource") (OTCBB:OSCE), today announced that it entered into a non-binding Letter of Intent to merge with Osmotics Pharma, Inc. ("OPI"). OPI is an emerging specialty pharmaceutical company focused on developing prescription products for the treatment of dermatological disorders, antibiotic resistant bacterial infections and certain cancers (www.osmotics.com/pharma_press.aspx). OPI has the exclusive worldwide rights covering technologies developed by the University of California and Brigham Young University. Applications of these technologies are currently being tested by some of the leading research institutions in the world. All of OPI's products are in the development stage and subject to approval by the United States Food and Drug Administration. OPI is a subsidiary of Osmotics Corporation, a privately held company selling premium cosmeceutical products primarily through prestige retailers (www.osmotics.com).

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