Navigation Links
Millennium Enters Into $600,000 Product Development Agreement to Fund Product Development for the $20,000,000 Purchase Agreement with Provider Services, Inc.
Date:1/16/2008

Agreement Provides for Provider Services, Inc. to fund $600,000 for Product Development Associated with the Ready-To-Drink Product to be Developed by

Millennium pursuant to the terms of the $20,000,000 5-year Purchase

Agreement

BASKING RIDGE, N.J., Jan. 16 /PRNewswire/ -- Millennium Biotechnologies Inc., wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (OTC Bulletin Board: MBTG) today announced that it will receive $600,000 in funding pursuant to the terms of a one year Product Development Agreement with Provider Services, Inc. of Cleveland, Ohio (PSI). As Ohio's second largest services provider for the Long Term Care channel, with sales in excess of 300 million dollars, PSI will provide services to over 12,000 residents in 2008.

"Our agreement will allow us to use Millennium's extensive clinical experience and success in the cancer and HIV channels and apply that experience to the nutritional challenges in the Long Term Care channel," stated Mark Mirken, President and Chief Operating Officer of Millennium Biotechnologies.

"Expanding our relationship with MBI and MBTG by funding the product development and providing PSI a one year lead to market on products they provide will give us a significant cost savings and market advantage," Brian Colleran, CEO of PSI stated. Mr. Colleran added, "This will continue to allow us enhance the quality of life for our residents and new tenants."

About Millennium:

Millennium's three proprietary, marketed products, which form the Company's Resurgex(R) Continuum of Care, include Resurgex Select(R), Resurgex(R), and Resurgex Plus(R). 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 is also recently developed a Surgex(R) sports nutrition formula, clinically proven to address the nutritional concerns of both professional and amateur elite athletes. These athletes often experience similar symptoms post-workout to those battling immunocompromised conditions, such as fatigue, loss of lean muscle, oxidative stress, and reduced immune function.

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").


'/>"/>
SOURCE Millennium Biotechnologies Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Millennium to Webcast Business Update in Advance of 26th Annual JPMorgan Healthcare Conference
2. Millennium Submits sNDA for VELCADE(R) (Bortezomib) for Injection for the Treatment of Front-Line Multiple Myeloma
3. Millennium Pharmaceuticals Announces Webcast of American Society of Hematology Investor Event
4. Millennium Biotechnologies Inc. Signs Five Year $20,000,000 Purchase Agreement with Provider Services Inc. of Cleveland, Ohio
5. Millennium Announces MLN1202 Significantly Reduced Marker of Systemic Inflammation and Identifies Genomic Biomarker For Responders
6. 2007 Credit Suisse Healthcare Conference to Webcast Millennium Presentation
7. Statement by Bonnie J. Campbell, Former Attorney General of Iowa and Spokesperson for Atlantic Richfield Co., Millennium Holdings, LLC, NL Industries, Inc., and The Sherwin-Williams Company on the Jury Verdict Reached Today in the Thomas (Milwaukee) Case
8. Synova Healthcare to Participate in Womens Health Care in the New Millennium Conference, as Retail Distribution for the Fem-V(R) Test Kit Expands
9. Bear Stearns 20th Annual Healthcare Conference to Webcast Millennium Presentation
10. Speaking of Womens Health Community Event Returns to All Wal-Mart Supercenters Nationwide January 12th
11. Susan G. Komen for the Cure, Ryan Community Health Centers, Breast Cancer Survivors Call on New York State to Expand Breast Cancer Screening, Treatment Programs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/23/2017)... (PRWEB) , ... January 23, 2017 , ... ... and production applications. However, choosing the right method is paramount to success. Selecting ... more often in situations where multiple persons use the same equipment. Rare or ...
(Date:1/23/2017)... Angeles, California (PRWEB) , ... January 23, 2017 , ... ... Era” principles, has added Mr. Olympia Classic Physique bodybuilder Breon Ansley to its growing ... began competing as a bodybuilder in 2012 and in less than a year was ...
(Date:1/23/2017)... (PRWEB) , ... January 23, 2017 , ... “The Inn at the Mill”: a ... unexpected fears in her quest to become happy and content. , “The Inn at ... Pennsylvania, has also lived in Germany and Vermont and is now living in Berks County ...
(Date:1/23/2017)... ... , ... “Life Under Blankets”: an entrancing story about one woman's travels ... is the creation of published author, Kimberly Mitchell, who earned her bachelor’s degree in ... to pursue a master’s degree in education in the field of curriculum and instruction. ...
(Date:1/22/2017)... ... ... Phytocéane invites clients to take an exotic journey deep into the heart ... CREAM. Inspired by the beauty of Zanzibar, a Tanzanian archipelago off the coast of ... to create this gentle, velvety body cream to envelop the skin in moisture while ...
Breaking Medicine News(10 mins):
(Date:1/21/2017)... 20, 2017 Research and Markets has ... Market By Type of Test (Tumor, Clinical Chemistry, Microbiology, Esoteric), ... of Diseases (Tuberculosis, Influenza, Cancer, HIV/AIDS etc.), Forecast to 2022" ... ... healthcare services, market segments, especially clinical lab testing, which has ...
(Date:1/21/2017)... DUBLIN , Jan 20, 2017 Research ... Delivery Market Analysis & Trends - Technology, Route Of Administration, End ... ... Delivery Market is poised to grow at a CAGR of around ... 2025. This industry report analyzes the global markets ...
(Date:1/20/2017)... -- Stock-Callers.com today evaluates the following Drug Manufacturers ... Nordisk A/S (NYSE: NVO ), Sucampo Pharmaceuticals Inc. ... (NASDAQ: PTX ). These stocks belong to the ... 2017, finishing near its session lows. As per a NASDAQ ... shares of health care companies in the S&P 500 also ...
Breaking Medicine Technology: