Carrington Laboratories, Inc. and DaySpring Pharma Sign Term Sheet for Distribution of Diabetic and Radiation Products Into Physician Market
IRVING, Texas, Aug. 16 /PRNewswire-FirstCall/ -- Carrington Laboratories, Inc. today announced it has signed a multi-year supply and distribution term sheet, which will be finalized in a formal supply agreement, with DaySpring Pharma, LLC (http://www.dayspringpharma.com). Under the terms of this agreement, Carrington will supply to DaySpring multiple prescription products, based on Carrington's flagship DiaB(TM) and Radia(TM) brands, for distribution into the physician market for the treatment of diabetes and radiation patients. In exchange for guaranteed volumes of these prescription products, DaySpring will receive market protection in the markets. All products will contain Carrington's Acemannan Hydrogel(TM). The parties will also enter good faith negotiations for the manufacture and supply of other DaySpring products.
"Carrington's goal is to identify business development partners who can drive our technology, products and brands into additional market segments," stated Doug Golwas, vice president of corporate sales and marketing. "DaySpring has established revenues, products and channels in the physician market today. We feel that the launch of these products, all including Acemannan Hydrogel(TM), will enhance the brand equity and revenues of both companies. Additionally, the products will help two rapidly growing patient segments that have very specific needs." DaySpring currently markets to prescription health care professionals throughout the United States. Its products Brovex(TM) and Lidocream(TM) are used as a broad spectrum of treatments and are recognized by healthcare professionals.
Dr. Wade Smith, CEO of DaySpring said: "Carrington is known for its market leadership in advanced wound care in hospital settings. There is a tremendous market opportunity, with patients and physicians, to establish these brands as the standards in the treatment of wound and skin care within the diabetic and radiation therapy markets."
About Acemannan Hydrogel(TM)
Acemannan Hydrogel(TM) contains the highest level of polymeric acetylated mannans of any commercially-available product from Aloe vera L. It is the key ingredient in Carrington's products marketed in the pharmaceutical industry for wound healing and cessation of pain. Acemannan Hydrogel(TM) is currently being used in various prescription and non-prescription medical devices for the management of stomatitis, apthous ulcers, diabetic ulcers, first through third degree burns, surgical incision sites, and general wounds, cuts and lesions.
About DaySpring Pharma
DaySpring Pharma, LLC is a niche focused specialty pharmaceutical company focused on acquiring, developing and commercializing approved and late stage branded products, with a particular focus on the women's health care, pediatrics fields, and dermatology. While unique, these markets are the fastest-growing pharmaceutical sectors. Its focus includes therapeutic agents and products that exceed the needs of patients in these under-served markets. For more information, visit http://www.dayspringpharma.com.
Carrington Laboratories, Inc. is an ISO 9001-certified, research-based, biopharmaceutical and consumer products company currently utilizing naturally- occurring complex carbohydrates to manufacture and market products for mucositis, radiation dermatitis, wound and oral care, as well as to manufacture and market the nutraceutical raw material Manapol(R) and cosmetic raw material Hydrapol(TM). Carrington also manufactures and markets consumer products and manufactures quality products for other companies. Manufacturing operations comply with cGMP standards. DelSite Biotechnologies, a subsidiary of Carrington, is developing its proprietary GelSite(R) technology designed to provide controlled release of peptide and protein-based drugs. The GelVac(TM) formulation of GelSite is being funded by HHS and is being developed as a nasal powder delivery system for vaccines and therapeutics, in particular, for the H5N1 Avian (Bird) Flu. Carrington's technology is protected by more than 130 patents in 26 countries. Select products carry the CE mark, recognized by more than 20 countries around the world. For more information, visit http://www.carringtonlabs.com .
Certain statements in this release concerning Carrington may be forward- looking. Actual events will be dependent upon a number of factors and risks including, but not limited to: subsequent changes in plans by the Company's management; delays or problems in formulation, manufacturing, distribution, production and/or launch of new finished products; changes in the regulatory process; changes in market trends; and a number of other factors and risks described from time to time in the Company's filings with the Securities & Exchange Commission, including the Form 10-Q, filed August 14, 2007.Carrington Laboratories, Inc.
CONTACT: Doug Golwas, VP, Corporate Sales and Marketing of CarringtonLaboratories, Inc., +1-972-518-1300