BASKING RIDGE, N.J., March 28 /PRNewswire-FirstCall/ -- Millennium Biotechnologies, Inc. a wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (MBTG) announced today that it has received an $88,000 purchase order and letter of credit associated with the recently announced distribution agreement with Ferring, Inc. of Canada. Ferring, Inc. will commence the marketing and distribution of the Resurgex Select(R) product line into the Canadian Oncology marketplace upon the receipt of goods from Millennium this spring.
Ferring Canada is one of 40 Ferring S.A. operations located around the world which will launch Ferring’s new Prostate Cancer Drug in 2010. This significant initiative offers a platform for Millennium to launch Resurgex throughout the Ferring global network.
The receipt of the guaranteed letter of credit validates Millennium’s expansion into the international clinical oncology marketplace. International marketing and distribution partners in the oncology markets of Greece and now Canada have voluntarily embraced the opportunity to sell the Resurgex Select(R) product line within their respective countries.
Frank Guarino Chief Financial Officer of Millennium stated, “The culmination of this distribution agreement with Ferring, Inc. and the $88,000 letter of credit represents substantial progress for the Resurgex Select(R) product line. This event clearly verifies the revenue growth, future potential and clinical acceptance of the Resurgex Select(R) product line in the international nutritional supplement market.”
Ferring is a Swiss-based, research driven, specialty biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of endocrinology, gastroenterology, gynecology, fertility and urology.
About Millennium:
Millennium’s six marketed products form the Company’s 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, clinically proven 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. Millennium’s most recent formula is a contribution to the long term care market. 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 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”). These statements have not been evaluated by the Food and Drug Administration. Resurgex(R), Resurgex Plus(R), Resurgex Select(R) and Surgex(TM) are not intended to diagnose, treat, cure, or prevent and disease.
CONTACT: Mark C. Mirken of Millennium Biotechnologies Inc.,
+1-908-604-2500
Web site: http://www.milbiotech.com/
