FITCHBURG, Mass., April 20 /PRNewswire-FirstCall/ -- Integrated Pharmaceuticals, Inc., (“IntePharm”), announced today that the registration statement on Form SB-2 it filed covering the resale by Dutchess Private Equities Fund, Ltd. (“Dutchess”) of up to 15 million shares that it may purchase under the Investment Agreement between Dutchess and IntePharm has been declared effective by the Securities and Exchange Commission. According to the terms of the Investment Agreement, IntePharm may require Dutchess to purchase up to $10 million of IntePharm common stock in next three years, subject to certain conditions set forth in the Investment Agreement.
Chinmay Chatterjee, Ph.D., CEO of IntePharm said, “We are very pleased that the SEC declared our registration statement effective as of April 18th, 2007. We hope that our agreement with Dutchess will provide us with additional capital that will enable us to implement our business plan. We appreciate Dutchess’s support and remain focused on strengthening IntePharm’s business activities.”
Additional information with regard to the Investment Agreement and the Company’s business plan can be found in the Company’s Registration Statement on Form SB-2/A, as filed with the Securities and Exchange Commission on April 4, 2007, which can be viewed without charge on the Internet at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About IntePharm
IntePharm is an emerging producer of specialty compounds for the pharmaceutical, nutraceutical and functional food industries. In addition to making products, IntePharm discovers and develops more efficient and cost- effective manufacturing processes. These processes are developed using a comprehensive technology platform that combines metabolic engineering, cellular genetics, advanced bioprocess engineering, and computer simulation science. The company owns numerous pending patents for new products and technologies appropriate for immediate commercialization in food and nutritional products market.
Safe Harbor for Forward Looking Statements
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, customer demand for it products, the Company’s ability to scale up manufacturing to meet demand, and other factors over which Integrated Pharmaceuticals, Inc. has little or no control.
For further information please contact Dr. Chinmay Chatterjee, Integrated Pharmaceuticals, Inc. (IntePharm), at (978) 696-0020, or visit http://www.intepharm.com.
Integrated Pharmaceuticals, Inc.
CONTACT: Dr. Chinmay Chatterjee of Integrated Pharmaceuticals, Inc.,+1-978-696-0020
