SOURCE: Bio-Quant, Inc.
ARGUS HEALTH PRODUCTS LICENSES BIO-QUANT’S TOPICAL ANALGESIC PRODUCTS FOR THE USA AND CANADA
HORSHAM, PA, May 12, 2005, ARGUS HEALTH PRODUCTS, LLC announced today that it has signed a definitive license agreement with Bio-Quant, Inc. for exclusive US and Canadian rights to Bio-Quant’s line of topical analgesic products for the medical and sports markets.
The market potential for the products licensed by AHP could exceed $1 billion. There are an estimated 40 million people in the U.S. who suffer from various inflammation-related disorders such as arthritis, tendonitis, and bursitis. This number is multiplied several-fold if one includes individuals suffering from backache, strains, sprains; and the millions of individuals who are subject to sports injuries such as muscle cramps, soreness and bruising as a result of their active participation in sports or exercise-related activities.
Commenting on the agreement, Mildred S. Christian, Ph.D., AHP’s Chairman and Chief Executive Officer, stated “This agreement could significantly increase our revenues and become an important addition to our healthcare line of products. I believe that adding Bio-Quant’s topical analgesic products places AHP in a strong position to develop a significant franchise in inflammatory and immune disease management. This strategic product addition will allow us to provide more scientifically-qualified natural products for the rapidly increasing number of informed people concerned with their health and vitality."
“This is the second product we have licensed to AHP, and we believe that the existing synergies between Bio-Quant and AHP offer an excellent opportunity for growth because AHP has extensive distribution and marketing contacts and channels,” stated Bassam Damaj, Ph.D., President and CEO of Bio-Quant.
Dr. Damaj added, "Under the terms of the agreement, Bio-Quant will receive upfront payments and a 15-year royalty obligation from AHP, in addition to milestone and manufacturing payments.”
About Argus Health Products, LLC
Argus Health Products, LLC, is developing a line of preventive and maintenance health care products for use in the health care professional and OTC markets. With offices in Horsham, Pennsylvania and Franklin, Louisiana, the company is launching novel skin care and rejuvenation products, as well as hydrators and sunscreens. It also has a line of OTC products that includes a natural, alcohol-free mouthwash.
For more information, visit Argus Health Product's web site at www.argushealthproducts.com and www.siwakmouthwash.com.
About Bio-Quant, Inc
Bio-Quant translates scientific discoveries into safer, more effective medications for people with medical and immune conditions. Armed with a proprietary natural product chemical library, an in-house developed drug screening platform, and state-of-the-art translational research tools, the Company has developed a robust revenue- generating product pipeline. In addition, the Company has novel types of disease diagnosis called “Multiplex Technologies” that permit the simultaneous detection of multiple diseases, at the same time and from the same sample, in blood, urine and tissues. For more information, visit Bio-Quant's web site at www.bio-quant.com and www.apeaz.com.
When used anywhere in this document, the words "expects", "believes", "anticipates", "estimates" and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein may include statements addressing future financial and operating results of Bio-Quant and the timing, benefits and other aspects of the proposed license. Bio-Quant has based these forward-looking statements on its current expectations about future events. Such statements are subject to risks and uncertainties including, but not limited to, the successful implementation of Bio-Quant's strategic plans, the acceptance of new products, the obsolescence of existing products, the resolution of existing and potential future patent issues. These risks and uncertainties could cause actual results to differ materially from results expressed or implied by forward-looking statements contained in this document. These forward-looking statements speak only as of the date of this document. Bio-Quant disclaims any undertaking to publicly update or revise any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Contact:
Bio-Quant, Inc.
Bassam Damaj, Ph.D., CEO & CSO 858/663-1159
or
Argus Health Products, LLC
Mildred S. Christian, Ph.D., Chairman and CEO 215/672-8867