As Orders Pour In, UNIVEC Expands Production With Technology Transfer to Israel.FARMINGDALE, N.Y.--(BUSINESS WIRE)--March 2, 1999--UNIVEC, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UNVC) has announced that it has entered into a definitive agreement with Dispomedic 1997 Ltd., an Israeli manufacturer of hypodermic syringes. Under the agreement, UNIVEC will transfer its patented technology, used in the manufacture of auto-destruct non-reusable syringes to Dispomedic. In return, UNIVEC will receive royalty payments on all sales generated by Dispomedic to its own international customers and simultaneously broaden UNIVEC's production capabilities. UNIVEC's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Joel Schoenfeld, considers this agreement a significant milestone in the war against the spread of infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. occasioned by the re-use of contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. syringes. The strategic alliance with Dispomedic is intended toer from a division of the World Health Organization for approximately 36 million auto-destruct syringes for her customers. Our agreement with Dispomedic enact the healthcare worker and patient against cross-infection, resulting from reused needles and syringes. This Press Release contains Forward-Looking Statements. Statements in this news release looking forward in time are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors. |
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