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01.10.2009
Salugen (SYMBOL: SQZ.F) Announces Agreement with Network of 2,700 physicians
Salugen (SYMBOL: SQZ.F) Announces Agreement with Network of 2,700 physicians
As part of the commercial roll-out of its HAVEOS program to support workers compensation cost containment, Salugen signs agreement with Prospice Group to distribute its product to large network of physicians in the state of California
ZURICH, SWITZERLAND and SAN DIEGO, CA USA – October 1, 2009 – Salugen® (SYMBOL: SQZ.F), a publicly-traded international life sciences company, announces today that it has signed an agreement with the Prospice Group (www.prospicegroupcorp.com) to distribute its genetic testing and anti-craving program to its network of 2,700 physicians in the State of California.
The previous 2009 financial projection of $3M in revenue was based on 40 physician clinics offering the HAVEOS program by year-end. This agreement providing a distribution channel to 2700 physician clinics will dramatically increase the market penetration and will positively impact revenues in 2010 and beyond.
Prospice Group Corporation (PGC) provides workers' compensation health care and medical management solutions that are innovative and cost-saving. Through its family of companies, PGC uniquely brings together best-of-breed medical providers, claims administration, case management, bill utilization, investigations, Third Party Administration (TPA), insurance and other workers' compensation related solutions -- all under one umbrella designed to better serve doctors, patients and employers with higher quality heath care.
The Salugen program involving the HAVEOS Genetics Test to evaluate a patient’s genetic predisposition to chemical imbalances associated with chemical dependence brings value to PGC physicians who are looking to contain the spiraling costs of narcotic usage. By identifying patients at risk for dependence or tolerance, physicians can better treat patients and keep costs down. If a patient is at risk for narcotic tolerance or dependence, Salugen offers the HAVEOS anti-craving program by prescription through physicians to help support brain chemical balance. This program has demonstrated an ability to reduce cravings, improve mood, and promote wellbeing in published clinical studies.*
About Salugen AG
Salugen™ is a life sciences company offering nutritional ingredients and gene testing to help reduce excessive cravings involved in smoking, weight problems, and alcohol and drug abuse. Salugen has a patent-protected, clinically proven nutritional formulation to reduce stress and cravings, as well as patent-protected gene tests to help identify these persons and customize their treatment. Simply, Salugen’s goal is to reduce or eliminate the illness, costs, and deaths associated with these preventable disorders. For additional information about the company, please visit http://www.salugen.com.
Investor Relations Information Contact:
Petjo Noack, MA and Louis Philippe Antunes
Sherbrooke Equity Inc.
Seefeldstrasse 45
8032 Zürich
Tel.: 41 (0) 43 443 70 70
Fax.: 41 (0) 43 443 70 77
Web: www.sherbrookequity.com
Email: info@sherbrookeequity.com
Company Information Contact: Salugen AG, 877-258-4360, info@salugen.com, http://www.salugen.com .
* These statements have not been evaluated by the U.S. Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease
Forward Looking Statements
Certain statements in this press release are forward-looking. These forward-looking statements include references to the use of our laboratory tests and nutritional products. These forward-looking statements are subject to risks and uncertainties and other factors, which may cause actual results to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that physicians may not use the testing or products correctly; risks and uncertainties relating to the performance of our products; the growth in revenues; the size, timing and success or failure of any clinical trials; whether larger confirmatory clinical studies will confirm the results of initial studies; our ability to establish reliable, high-volume operations at commercially reasonable costs; expected reliance on physicians selling our products for a majority of our revenues; the annual renewal of certain customer agreements; actual market acceptance of our products and adoption of our technological approach and products; our estimate of the size of our markets; our estimates of the levels of demand for our products; the impact of competition; whether payers will authorize reimbursement for our products and services and the amount of such reimbursement that may be allowed; whether the FDA or any other agency will decide to further regulate our products or services; whether actions by the FDA, FTC or any other state regulatory body will restrict our ability to commercialize our products; whether we will encounter problems or delays in automating our processes; the ultimate validity and enforceability of our patent applications and patents; the possible infringement of the intellectual property of others; whether licenses to third party technology will be available; whether we are able to build brand loyalty and expand revenues; and whether we will be able to raise sufficient capital in the future, if required. We do not undertake, and specifically disclaim any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
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As part of the commercial roll-out of its HAVEOS program to support workers compensation cost containment, Salugen signs agreement with Prospice Group to distribute its product to large network of physicians in the state of California
ZURICH, SWITZERLAND and SAN DIEGO, CA USA – October 1, 2009 – Salugen® (SYMBOL: SQZ.F), a publicly-traded international life sciences company, announces today that it has signed an agreement with the Prospice Group (www.prospicegroupcorp.com) to distribute its genetic testing and anti-craving program to its network of 2,700 physicians in the State of California.
The previous 2009 financial projection of $3M in revenue was based on 40 physician clinics offering the HAVEOS program by year-end. This agreement providing a distribution channel to 2700 physician clinics will dramatically increase the market penetration and will positively impact revenues in 2010 and beyond.
Prospice Group Corporation (PGC) provides workers' compensation health care and medical management solutions that are innovative and cost-saving. Through its family of companies, PGC uniquely brings together best-of-breed medical providers, claims administration, case management, bill utilization, investigations, Third Party Administration (TPA), insurance and other workers' compensation related solutions -- all under one umbrella designed to better serve doctors, patients and employers with higher quality heath care.
The Salugen program involving the HAVEOS Genetics Test to evaluate a patient’s genetic predisposition to chemical imbalances associated with chemical dependence brings value to PGC physicians who are looking to contain the spiraling costs of narcotic usage. By identifying patients at risk for dependence or tolerance, physicians can better treat patients and keep costs down. If a patient is at risk for narcotic tolerance or dependence, Salugen offers the HAVEOS anti-craving program by prescription through physicians to help support brain chemical balance. This program has demonstrated an ability to reduce cravings, improve mood, and promote wellbeing in published clinical studies.*
About Salugen AG
Salugen™ is a life sciences company offering nutritional ingredients and gene testing to help reduce excessive cravings involved in smoking, weight problems, and alcohol and drug abuse. Salugen has a patent-protected, clinically proven nutritional formulation to reduce stress and cravings, as well as patent-protected gene tests to help identify these persons and customize their treatment. Simply, Salugen’s goal is to reduce or eliminate the illness, costs, and deaths associated with these preventable disorders. For additional information about the company, please visit http://www.salugen.com.
Investor Relations Information Contact:
Petjo Noack, MA and Louis Philippe Antunes
Sherbrooke Equity Inc.
Seefeldstrasse 45
8032 Zürich
Tel.: 41 (0) 43 443 70 70
Fax.: 41 (0) 43 443 70 77
Web: www.sherbrookequity.com
Email: info@sherbrookeequity.com
Company Information Contact: Salugen AG, 877-258-4360, info@salugen.com, http://www.salugen.com .
* These statements have not been evaluated by the U.S. Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease
Forward Looking Statements
Certain statements in this press release are forward-looking. These forward-looking statements include references to the use of our laboratory tests and nutritional products. These forward-looking statements are subject to risks and uncertainties and other factors, which may cause actual results to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that physicians may not use the testing or products correctly; risks and uncertainties relating to the performance of our products; the growth in revenues; the size, timing and success or failure of any clinical trials; whether larger confirmatory clinical studies will confirm the results of initial studies; our ability to establish reliable, high-volume operations at commercially reasonable costs; expected reliance on physicians selling our products for a majority of our revenues; the annual renewal of certain customer agreements; actual market acceptance of our products and adoption of our technological approach and products; our estimate of the size of our markets; our estimates of the levels of demand for our products; the impact of competition; whether payers will authorize reimbursement for our products and services and the amount of such reimbursement that may be allowed; whether the FDA or any other agency will decide to further regulate our products or services; whether actions by the FDA, FTC or any other state regulatory body will restrict our ability to commercialize our products; whether we will encounter problems or delays in automating our processes; the ultimate validity and enforceability of our patent applications and patents; the possible infringement of the intellectual property of others; whether licenses to third party technology will be available; whether we are able to build brand loyalty and expand revenues; and whether we will be able to raise sufficient capital in the future, if required. We do not undertake, and specifically disclaim any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0027529517
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.