Endovasc Signs Deal with Basic Research Subsidiary to Commercialize Muscle Development Nutraceutical Product; Subsidiary to Invest $2.5 Million in Product Marketing and Sales.Business Editors/Health/Medical Writers MONTGOMERY, Texas--(BUSINESS WIRE)--July 9, 2003 Endovasc Incorporated (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : EVSC EVSC Evansville Vanderburgh School Corporation ) announced today that its wholly-owned subsidiary, Nutraceutical Development Corporation (NDC NDC National Drug Code NDC NATO Defense College NDC National Documentation Centre (National Hellenic Research Foundation, Athens, Greece) NDC National Dairy Council NDC National Democratic Congress ), has signed a product licensing agreement with Basic Research. Basic Research has agreed to invest a minimum of $2.5 million in developing, commercializing and marketing Endovasc's Muscle Mass Technology for nutraceutical products. In addition, Basic Research will pay Endovasc a 10% royalty on all revenues generated by these nutraceutical products with a benchmark of $2 million minimum royalty beginning on the second year. Basic Research is one of North America's fastest-growing and most profitable nutraceutical vendors. The current market size for the U.S. nutraceutical market is estimated to be approximately $28 billion annually. Nutraceuticals have been hailed by Newsweek as "better than vitamins" and predict them to be "the next financial blockbuster." Natural Health Magazine states, "Nutraceuticals represent an alternative to high-tech rescue medicine. We could save several billion healthcare dollars and prevent 70 percent of our current diseases." "We are extremely excited to be teaming up with one of America's premiere nutraceutical companies," says Dr. David P. Summers, chairman and chief executive officer of Endovasc Inc. "This is an extremely important development for Endovasc as this relationship could potentially begin generating substantial revenue this year. Basic Research will be able to capitalize on our natural muscle mass recruiting and accelerated body building supplement and manufacture, package, distribute and market this product through their extensive distribution network to a wide variety of body builders, fitness buffs and athletes who want to quickly improve their strength and muscle mass." According to Dennis Gay, 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 Basic Research, "Based on the extensive due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. we have conducted on Endovasc's technology - including a statistically significant difference in muscle mass (p less than 0.001) that was subsequently confirmed by an independent bio-statistician - we are confident that the combination of their newly discovered natural alkaloid found in many plants and our ability to commercialize and sell nutraceutical products will result in an extremely profitable venture. The recent double-blind study double-blind study, n experimental technique in clinical research in which neither the researcher nor the patient knows whether the treatment administered is considered inactive (placebo) or active (medicinal). conducted by Active Therapy Professionals concluded that Endovasc's proprietary pyrrolidine pyrrolidine /pyr·rol·i·dine/ (pi-rol´i-din) a simple base, (CH2)4NH, obtained from tobacco or prepared from pyrrole. pyr·rol·i·dine n. alkaloid was found to be a powerful recruiter and mobilizer of stem cells stem cells, unspecialized human or animal cells that can produce mature specialized body cells and at the same time replicate themselves. Embryonic stem cells are derived from a blastocyst (the blastula typical of placental mammals; see embryo), which is very young in the body. This study combined with two animal studies confirmed that when exercise is used in conjunction with this natural product, significant acceleration of muscle mass and strength occurs." About Basic Research Since 1992, Basic Research's vision of a responsive, ethical supplement industry has helped change and improve how bio-cosmetic, fitness and weight-loss products are researched and marketed. Basic Research (www.basicresearch.org) is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with an industry reputation for innovative product development, and meticulous research. And while consumers may not know our name, it's a good bet they have purchased one or more of our popular formulations. Now, with more than 17,000 national and international retail accounts, Basic Research continues its exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. . About Endovasc Endovasc Inc., established in 1996, is an early-stage drug development company that pioneers new cardiovascular and metabolic drug therapies that are designed to deliver and release drugs to their intended targets in an efficient and controlled manner. Endovasc's lead drug candidates include Angiogenix(TM), Liprostin(TM), PROStent(TM) stent-coating technology, biodegradable stents and other drug-delivery stents. The foregoing statements are made under the "Safe Harbor" 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 and may contain forward-looking statements that involve risks and uncertainties that may not be evident at the time of this release. For more information about Endovasc, please visit www.endovasc.com. |
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