Millennium Biotechnologies, Inc. Receives Federal Medicare HCPCS Coding For Reimbursement Of It's New Resurgex Select(R) Product Directed At The Oncology and Tube Feeding Markets.BASKING RIDGE, N.J. -- Millennium Biotechnologies, Inc. (MBTG MBTG Moscow Business Telephone Guide ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Millennium Biotechnologies Group, Inc., today announced they have received the Healthcare Common Procedure Coding System The Healthcare Common Procedure Coding System (HCPCS) is a set of health care procedure codes based on the American Medical Association's Current Procedural Terminology (CPT). Commonly pronounced Hick-Picks. (HCPCS HCPCS Healthcare Common Procedure Coding System ) coding for their new enteral enteral /en·ter·al/ (en´ter'l) enteric. en·ter·al adj. 1. Within or by way of the intestine, as distinguished from parenteral. 2. Enteric. nutritional formula, Resurgex Select(R). HCPCS is one of the formats in which nutritional formulas may be coded for Medicare reimbursement and is specifically required for Medicaid reimbursement in many states. This new coding for Resurgex Select(R) is an important component to the national launch of Resurgex Select(R) in the oncology and tube feeding tube feeding, n a method for supplying liquid nutrition through a tube that passes through the nasal passages and into the stomach. This method is utilized when ingesting food through the oral cavity is inadvisable or painful due to surgery or injury. sectors. Resurgex Select(R) is a high protein, low sugar, whole foods based calorically dense nutritional formula specifically designed to provide a healthier alternative to corn oil/corn syrup based products for those patients that are in active treatment for cancer. It serves as a new extension of Millennium Biotechnologies flagship product Resurgex(R) that was launched in October of 2001. With Resurgex quickly becoming an important adjunct therapy for immune compromised individuals in many states, where it already qualifies for Medicaid reimbursement, the current HCPCS code approval for Resurgex Select will allow the Company to aggressively pursue Medicaid reimbursement throughout the country where a major campaign is already in place for oncology patients. With regards to the oncology patient population, current problems such as serious drug toxicities, side effects that directly interfere with proper nutrient intake and high costs, many physicians and their patients are progressively turning towards nutritional supplementation as studies of their benefits accumulate. "For cancer patients, nutrition during chemotherapy is critically important. The main goal before, during, and after treatments is to maintain adequate calories for weight maintenance and adequate protein to optimize the immune system, strength, and tolerance to treatments," stated Carl Germano, RD, CNS See Continuous net settlement. CNS See continuous net settlement (CNS). , CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. , the Company's Vice President of Research & Product Development. "For cancer patients, nutritional support during chemotherapy must be based on providing higher quality, healthier sources of protein and calories then what has been offered in the past. In addition, the product should contribute other important food ingredients such as healthy types of fats, fiber and phytonutrients from fruits and vegetables. Hence the development of our Resurgex Select(R) which now completes the Resurgex line of products that address the nutritional needs of the oncology patient throughout the full continuum of care." About Millennium Biotechnologies Millennium Biotechnologies, Inc. is a research-based nutraceutical company and a pioneer in the emerging field of specialized nutritional supplements. The company's flagship products, RESURGEX(R) and RESURGEX Plus(R), are designed to assist in strengthening cellular defense and supporting the immune system in patients with HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome , Hepatitis C, cancer and other chronic illnesses. Millennium Biotechnologies also owns the exclusive medical-market rights to GliSODin(TM) (SOD/gliadin), the only orally effective form of the important 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 SOD (superoxide dismutase). Millennium Biotechnologies, Inc. is a wholly owned subsidiary of Millennium Biotechnologies Group, Inc., a publicly-traded company (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:MBTG.OB). For more information about Millennium Biotechnologies, please call Frank Guarino (908) 604-2500 or visit www.resurgex.com. This release includes certain forward-looking information that is based upon management's beliefs as well as on assumptions made by and data currently available to management. This information which has been, or in the future may be, included in reliance on the "safe harbor" 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, is subject to a number of risks and uncertainties, including but not limited to uncertainty as to market acceptance of our products and the factors identified in the Company's 10-KSB and other documents filed with the Securities and Exchange Commission. Actual results may differ materially form those anticipated in such forward-looking statements even if experience or future changes make it clear the any projected results expressed or implied therein may not be realized. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. |
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