Cyanotech Allies with Unit of Kyowa Hakko for Distribution of BioAstin in Japan; Major Distributor Alliance for Promising Nutraceutical Product.Business Editors & Health/Medical Writers KAILUA-KONA, Hawaii--(BUSINESS WIRE)--Nov. 1, 2000 Cyanotech Corporation (Nasdaq:CYAN), the world leader in producing high-value, natural products from microalgae, today announced that it has signed an agreement with Kyowa Engineering Co. (KEC KEC Kootenai Electric Cooperative KEC Kongu Engineering College (Tamilnadu, India) KEC Kentucky Exposition Center (Louisville, Kentucky) KEC Krupajal Engineering College (India) ) for distribution of BioAstin(TM) in Japan. KEC is a unit of Kyowa Hakko (http://www.kyowa.co.jp), which reported revenues for fiscal 2000 of US$3.5 billion, of which one-half were derived from sales of pharmaceuticals and other bio-products. Cyanotech produces BioAstin brand natural astaxanthin (pronounced "asta-zan-thin") as a powerful antioxidant antioxidant, substance that prevents or slows the breakdown of another substance by oxygen. Synthetic and natural antioxidants are used to slow the deterioration of gasoline and rubber, and such antioxidants as vitamin C (ascorbic acid), butylated hydroxytoluene with expanding applications as a human nutraceutical. The Company is the world's largest commercial producer of natural astaxanthin from microalgae. The semi-exclusive, three-year agreement calls for an upfront payment to Cyanotech and an additional payment prior to initiation of two planned clinical trials assessing BioAstin's effectiveness for specific health issues. Cyanotech currently has a clinical trial underway assessing the effectiveness of BioAstin in treating carpal tunnel syndrome carpal tunnel syndrome: see repetitive stress injury. carpal tunnel syndrome (CTS) Painful condition caused by repetitive stress to the wrist over time. . Thereafter, KEC will purchase BioAstin softgel capsules from Cyanotech, as well as pay a royalty to Cyanotech on their sales. "We are pleased to form this important relationship with KEC in Japan," said Gerald R. Cysewski, Ph.D., chairman, president and 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. of Cyanotech. "Upon completion of the co-sponsored clinical trials and registration with the Japanese Ministry of Health and Welfare The Ministry of Health and Welfare is a branch of the government of South Korea. External links
• • , we expect strong sales of BioAstin in Japan as a result of KEC's extensive distribution network for natural products." Cyanotech Corporation, the world's leader in microalgae technology, produces high-value natural products from microalgae, and is the world's largest commercial producer of natural astaxanthin from microalgae. Products include BioAstin(TM) natural astaxanthin, a powerful antioxidant with expanding applications as a human nutraceutical; NatuRose(R) natural astaxanthin for the aquaculture aquaculture, the raising and harvesting of fresh- and saltwater plants and animals. The most economically important form of aquaculture is fish farming, an industry that accounts for an ever increasing share of world fisheries production. and animal feed industry; Spirulina spirulina Any cyanobacteria in the genus Spirulina. A traditional food source in parts of Africa and Mexico, spirulina is an exceptionally rich source of vitamins, minerals, and protein, and one of the few nonanimal sources of vitamin B12. Pacifica(R), a nutrient-rich dietary supplement; and phycobiliproteins, which are fluorescent pigments used in the immunological diagnostics market. Corporate and product information is available at http://www.cyanotech.com. |
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