- One-year Agreement With Guaranteed Purchase Minimums
- Carrington Provides Product Development, Manufacturing and Global
IRVING, Texas, Feb. 25 /PRNewswire-FirstCall/ -- Carrington Laboratories, Inc. (OTC Bulletin Board: CARN) announced today it has signed a supply agreement with Universal Harvest Corporation of Nevada. Under the terms of this agreement, Carrington will provide Universal Harvest with product development, manufacturing and packaging services. The agreement provides guaranteed revenues, on a quarterly basis, for 2008.
The product covered under this agreement will contain a proprietary raw material from Carrington's Costa Rican subsidiary Sabila Industrial. Sabila Industrial will also be involved in manufacturing of the finished product for international users.
Doug Golwas, Carrington's vice president, corporate sales and marketing, stated, "Carrington is focused on aggressively marketing our ISO-certified, cGMP liquid filling capabilities. We have a long history of providing a quality and geographic advantage for our customers for these types of services. This agreement is evidence that the market finds strategic and economic value in this segment of our business."
Both parties have agreed to enter into discussions for a long-term extension prior to the expiration of the agreement.
Carrington Laboratories, Inc. is an ISO 9001-certified, research-based, biopharmaceutical and consumer products company currently utilizing naturally-occurring complex carbohydrates to manufacture and market products for mucositis, radiation dermatitis, wound and oral care, as well as to manufacture and market the nutraceutical raw material Manapol(R) and cosmetic raw material Hydrapol(TM). Carrington also manufactures and markets consumer products and manufactures quality products for other companies. Manufacturing operations comply with cGMP standards. Carrington's DelSite Biotechnologies subsidiary is developing its proprietary GelSite(R) polymer technology designed to provide controlled release of peptide and protein-based drugs. A second technology GelVac(TM) is designed for dry powder nasal delivery of vaccines without the need for preservatives, adjuvants, cold storage and shipping under cold conditions. One influenza vaccine, (H5N1 antigen) with this technology, has been stable for more than three years at room temperature.
Carrington's technology is protected by more than 130 patents in 26 countries. Select products carry the CE mark, recognized by more than 20 countries around the world. For more information, visit http://www.carringtonlabs.com.
Certain statements in this release concerning Carrington may be forward-looking. Actual events will be dependent upon a number of factors and risks including, but not limited to: subsequent changes in plans by the Company's management; delays or problems in formulation, manufacturing, distribution, production and/or launch of new finished products; changes in the regulatory process; changes in market trends; and a number of other factors and risks described from time to time in the Company's filings with the Securities & Exchange Commission.
|SOURCE Carrington Laboratories, Inc.|
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