Veridien And Partner Target Multi-Billion Dollar ``Mold'' Opportunity.ST. PETERSBURG, Fla. -- Veridien Corporation announced today that its R&D strategic partner - North Carolina-based Mycosol, Inc. - has embarked on the regulatory path to approve two of its proprietary chemical compounds for mold prevention in - and remediation of - building structures. Unchecked, mold is already causing billions of dollars in property damage and has been purported to cause or exacerbate illness in humans and household animals. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Insurance Information Institute (http://www.iii.org), "Concern about the consequences of mold contamination has become one of today's top subjects. The implications of the emerging mold issue for insurance and the economy are serious." In fact, the Institute's August 2003 paper on Mold and Insurance states "US insurers paid out at least $3 billion in mold-related claims in 2002, more than double the $1.3 billion paid the previous year." After receiving excellent anti-fungal results from ongoing, broad spectrum testing against deleterious molds, Mycosol targeted what it believes to be a significant and growing need for the pre- and post-treatment of construction materials and dwellings. These collective, multi-billion dollar commercial applications include the treatment of: wallboard, lumber, plywood, flooring, decking, siding, filters, HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems, and myriad of other building supplies and surfaces. According to Mycosol's President and Chief Scientific Officer, Jeff Selph, "our platform technology and library of over 1,500 unique chemical compounds appear to have the ideal characteristics to be effective and potent anti-mold agents: fungistatic fun·gi·stat·ic adj. Having an inhibiting effect upon the growth and reproduction of fungi without destroying them. and fungicidal fun·gi·cide n. A chemical substance that destroys or inhibits the growth of fungi. fun gi·cid yet environmentally safe, long-term durability, non-water soluble, non-volatile, and a very cost effective manufacturing process. Now that our two lead compounds have been identified through preliminary testing, we have begun the rigorous process of formal safety and efficacy testing required for EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. approval . . . a process which is expected to be completed within two years." Veridien and Mycosol have initiated discussions with potential strategic partners, who may wish to participate in the distribution of this anti-mold technology and related products in their specific market segments. Veridien recently entered into a comprehensive strategic alliance with Mycosol in which Veridien has invested, and has the right to acquire the majority interest of this chemical and pharmaceutical development company. Mycosol will serve as Veridien's technology discovery and development arm. In addition, Mycosol's senior executives are working with Veridien to provide operational, technical, and product development support to expand the current Viraguard anti-infectives product portfolio, create new products, and increase market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . Sheldon C. Fenton, President and C.E.O. of Veridien Corporation stated: "Veridien's mission is to be a leader in the anti-infectives market through the development and commercialization of technologies, products, and services which eliminate or greatly reduce harmful microbials in our working and living environment. While our current products effectively kill bacteria, viruses, and fungi - such as mold and mildew - the new Mycosol technology should provide us with an expanded arsenal of proprietary, safe, broad spectrum, long-term anti-mold, anti-bacterial agents." About Veridien: Veridien Corporation is a Health Care and Anti-Infectives Company focusing on Infection Control and other Healthy Lifestyle products. Veridien has developed patented and unique products including surface disinfectants, antiseptic hand cleansers, instrument presoak pre·soak tr.v. pre·soaked, pre·soak·ing, pre·soaks To soak (laundry) before washing. n. 1. The act or an instance of presoaking. 2. A liquid preparation in which laundry is presoaked. , and sun protectant protectant /pro·tec·tant/ (pro-tek´tant) protective. protectant, protective 1. affording defense or immunity. 2. an agent affording defense against harmful influence. products. The flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Viraguard(R) Hospital Disinfectant/Cleaner and Instrument Presoak is a skin friendly, patented, U.S. - EPA and Health Canada Health Canada (French: Santé Canada) is the department of the government of Canada with responsibility for national public health. Health Canada's goal is to improve Canadian life by improving Canadian longevity, lifestyle and use of public healthcare. registered, surface disinfectant. Viraguard(R) Antiseptic Hand Gel, Viraguard(R) Antiseptic Hand Spray and Viraguard(R) Antiseptic Hand Wipes are U.S. - FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and Health Canada drug listed products utilizing Veridien's patented Virahol(R) formulation. Look for Veridien at http://www.veridien.com About Veridien's investment in future technology: Mycosol is a development-stage chemical and pharmaceutical company based in the Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. area of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . The Company is developing a proprietary, low cost platform technology to safely and effectively treat and prevent microbial-induced and microbial-exacerbated problems. Mycosol's proprietary, multi-active compound(s) have demonstrated potent anti-fungal, anti-bacterial, anti-inflammatory, and anti-allergic properties. Using this 'core technology' platform, plus a library of over 1,500 known analogs and 5 patents pending, Mycosol believes that a broad portfolio of products can be developed for many medical, industrial, veterinary, and agricultural applications. Look for Mycosol at http://www.mycosol.com Special Note: Forward-looking statements in this press release are made pursuant to 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, market acceptance of, and demand for, the Company's products, manufacturing, development and distributor issues, product pricing, competition, funding availability, technological changes and other risks not identified herein. The Company disclaims any intent or obligation to update any forward-looking statements. "Healthy Living is an Adventure - Let Veridien Guide You" |
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