Integrated Pharmaceuticals, Inc. Announces New Product Development and Signs a License and Exclusive Supply Agreement
March 29 2005 - 12:43PM
PR Newswire (US)
Integrated Pharmaceuticals, Inc. Announces New Product Development
and Signs a License and Exclusive Supply Agreement FITCHBURG,
Mass., March 29 /PRNewswire-FirstCall/ -- Integrated
Pharmaceuticals, Inc. (OTC:INTP) announced today that it has
developed a proprietary technology for making hot drinks healthier
and more nutritious. The new technology involves a system for
providing nutrients such as calcium in coffee and tea in a manner
that does not noticeably affect the taste or flavor of the
beverage. The Company's patent-pending technology can be applied to
several other applications that will allow beverage companies to
deliver healthy products to consumers at an affordable price.
Integrated Pharmaceuticals (IntePharm) also announced that it has
signed a non-exclusive license and an exclusive product supply
agreement with a distributor for the coffee additive. The agreement
permits the distributor to purchase IntePharm's coffee product and
sell it under its own brand name. The agreement requires the
distributor to purchase the product only from Integrated
Pharmaceuticals. The distributor signed the license agreement after
testing coffee product samples and completing a field application
trial. To the best of IntePharm's knowledge, no other manufacturer
has a similar product on the market. The distributor has told
IntePharm that it expects to purchase approximately $2.5 million of
the coffee product in first year after product launch, which
IntePharm expects will occur during the second quarter of 2005.
IntePharm is currently finalizing arrangements for the packaging of
this product, which the licensee will pay for separately. IntePharm
is exploring other potential licensing opportunities for the
beverage products made possible by its new technology, and hopes
that this product line will be a major contributor to its growth.
"We are excited to have this licensing and sales agreement signed
based on the strong intellectual property portfolio of the
Company," said Dr. Chinmay Chatterjee, CEO of Integrated
Pharmaceuticals. Dr. Chatterjee said further "IntePharm could
achieve this progress only because of the purity of the products
which are manufactured in the Fitchburg facility in MA using the
Company's patented technologies." Integrated Pharmaceuticals
recently commenced production at its facility in Fitchburg,
Massachusetts and expects to begin shipping product in June
pursuant to its previously announced five- year, $30 million supply
agreement with FragChem. About the Company IntePharm is an emerging
producer of pharmaceuticals, specialty compounds and chemicals for
the pharmaceutical, nutraceutical and 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
several other pending patents for new products and technologies for
immediate commercialization in food and nutritional products
market. For further information please contact Dr. Chinmay
Chatterjee, Integrated Pharmaceuticals, Inc. (IntePharm), at (978)
696-0020, or visit http://www.intepharm.com/. Forward-Looking
Statements Certain statements contained in this press release that
are not historical facts constitute "Forward-Looking Statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements, in general, predict, indicate
or imply future results, performance or achievements and generally
use words so indicative. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause the actual results or performance of the Company and its
business to be materially different from that expressed or implied
by such forward-looking statements. Included in those factors are
the following: our dependence on a limited number of potential
customers; limited managerial experience of our executives;
possible needs for additional capital; possible delays in product
development and delivery schedules; deferred or lost sales because
of the complex sales process prevalent in the industries that we
seek to serve; increased competitive pressure; and rapid
technological changes. Forward-looking statements by their very
nature are uncertain. There can be no guarantee that any
forward-looking statement will be fulfilled. The Company assumes no
obligation to update forward-looking statements to reflect actual
results or changes in or additions to the factors affecting such
forward-looking statements. DATASOURCE: Integrated Pharmaceuticals,
Inc. CONTACT: Dr. Chinmay Chatterjee of Integrated Pharmaceuticals,
Inc. (IntePharm), +1-978-696-0020 Web site:
http://www.intepharm.com/
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