BASKING RIDGE, N.J., Oct. 28 /PRNewswire-FirstCall/ -- Millennium Biotechnologies Group, Inc. today announced that Benjamin Custodio has joined the Company as Executive Vice President of International Sales and a member of the Board of Directors. Mr. Custodio has over 30 years of experience in the pharmaceutical and nutritional supplement industries, specializing in launching new products into international markets.
As Executive Vice President of International Sales, Custodio will leverage his skill set and utilize his strong global relationships to expand the Company's product line globally. Currently, he is the President and CEO of the LCI Group Ltd, a business development group which works with companies around the world in commercializing nutritional supplements, OTC and prescription products. Recently, the LCI Group was successful in coordinating the $360 million sale of the largest custom manufacturer of nutritional supplements in North America. Prior to heading the LCI group, Mr. Custodio was a consultant and member of the Board of Directors of Nu-Life Nutrition Ltd., one of Canada's oldest supplement and nutraceutical companies and once a wholly-owned subsidiary of Vitaquest International Inc., the world's leading custom manufacturer of nutritional and lifestyle products. Over his 30 plus years of industry experience, Mr. Custodio, has acted as the Head of Beverage Unit for Del Monte, President of Wampole Brands, the oldest nutraceutical company in Canada, was an executive with Ciba Geigy/Novartis, and handled international assignments with Johnson & Johnson International.
"Benjamin brings a wealth of experience and contacts to Millennium Biotechnologies," stated Mark Mirken, Chief Executive Officer of Millennium Biotechnologies. "His strong and well respected relationships in Asia will be the source of our international growth. With Benjamin at the helm of international expansion, we expect to achieve an immediate increase in our overseas sales at enhanced profit margins."
According to newly elected board member, Benjamin Custodio, "Millennium Biotechnologies is emerging as a leader in the development of targeted nutritional products in the Clinical, Long Term Care, and Sports markets. With the recent launch of the Company's ready-to-drink products, Resurgex Essential and Resurgex Essential Plus, now is the time for aggressive international expansion. I look forward to working with the Company in leveraging my international contacts for the benefit of its shareholders and believe that numerous overseas expansion opportunities exist in the very near term."
Millennium Biotechnologies is a leader in the development, of targeted nutritional products in the Clinical Nutrition Market and Sports Nutrition Market. Millennium's six marketed products form an advanced line of nutritional formulas. 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 also created Surgex(TM) sports nutrition formula to address the nutritional concerns of professional, Olympic, and amateur elite athletes. These athletes often experience similar symptoms post-workout to those battling immuno-compromised conditions, such as fatigue, loss of lean muscle, oxidative stress, and reduced immune function. Resurgex Essential(TM) and Resurgex Essential Plus(TM) are comprehensive, calorically dense formulas that meet and succeed the nutritional requirements of the assisted living community.
Statements in this news release regarding future financial and operating results, future growth in R&D programs, potential applications of the Millennium's technology, opportunities for the Millennium, 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 Millennium'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 Millennium's periodic reports, including Forms 10-KSB, 10-QSB, 8-K, and other forms filed with the Securities and Exchange Commission ('SEC'). Millennium Biotechnologies, Inc.
CONTACT: Mark Mirken, +1-908-604-2500, for Millennium Biotechnologies