Five Year Contract with Canadian Division of Global Pharmaceutical Company
Endorses Value of Millennium's Targeted Nutritional Supplement
BASKING RIDGE, N.J., March 24 /PRNewswire/ Millennium Biotechnologies, Inc. a wholly owned subsidiary of Millennium Biotechnologies Group, Inc. announced today that it has entered into a five-year exclusive distribution agreement for Resurgex(R), its nutritional formula for immuno- comprised patients, with Ferring Inc. of Canada, a division of Ferring S.A.
Under the distribution agreement Ferring will have the exclusive right to use the Resurgex trademarks and sell the Resurgex line of products in Canada. Ferring will be responsible for the marketing, distribution and sales efforts throughout Canada putting Resurgex(R) into the premium Enteral Nutritional Market. Ferring will purchase all products from Millennium Biotechnologies and will promote Resurgex to various specialist groups throughout Canada.
Richard Jeysman, President of Ferring Canada stated "Resurgex's proven success in the U.S. unequivocally demonstrates this product's ability to help immuno-compromised patients better deal with various disorders such as cancer, and afflictions of the gastrointestinal tract."
"Given the exhaustive evaluation, which they have conducted, and the size of their investment, this is a significant step for Millennium Biotechnologies in the international commercialization of our product line" stated Mark C. Mirken, President and Chief Operating Officer of Millennium Biotechnology.
Ferring S.A. 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 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 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, 908-604-2500
Web site: http://www.milbiotech.com//
