NVID Updates Status of AXEN.
NVID International, inc. (OTC BB:NVID) announced Monday a release on the updated status of AXEN.
AXEN is an aqueous disinfectant formulation that is based upon ionization stabilization technology. The purpose of the formulation is to compete with traditional disinfectants that utilize harmful or toxic chemicals such as chlorine, phenols and quaternary ammonium. The Company has been working on developing this product since 1996. During the course of these efforts, NVID has worked with accredited, recognized laboratories in Gainesville, Fla. and Harristown, Ill. to develop and test possible formulations.
Previously in 1996, NVID filed several provisional patents. On Oct. 9, 1998, NVID filed a utility patent application with the U.S. Patent and Trademark Office that claims benefit to one of the earlier filed provisional patent applications. On April 7, 1998, NVID filed another provisional application with the U.S. Patent and Trademark Office to further support the application filed in October of 1998. These applications cover the following aspects of the formulation:
1. an aqueous disinfectant solution; 2. an aqueous disinfectant solution having an extended shelf-life; 3. the process of making the disinfectant solution; 4. an aqueous solution of the active material; and 5. the process of making the active ingredient.
In addition, an International Application has been filed under the Patent Cooperation Treaty. The International Application was published by the World Intellectual Property Organization on April 22, 1999 under Publication Number WO 99/18790 and is available for public inspection.
The Axen formulation that is the basis of the patent application will be used as a hard surface disinfectant, biocide treatment for cooling towers, dental water line disinfection as well as for various drinking water applications. Testing to date has shown that the disinfectant capabilities of AXEN are effective at eliminating gram positive and gram negative bacteria. Shelf-life testing to date has shown that the AXEN formulation is shelf stable for up to twenty-one weeks at high concentrations.
As of June 1999, Costa Rica approved AXEN for sale as a general use hard surface disinfectant and for veterinary uses. This testing will not fulfill EPA requirements; however, NVID may use this testing to supplement its submission to the EPA.
NVID has begun efficacy testing in support of the EPA Registration process. In late April 1999, NVID began initial testing through EPL Bio-Analytical Services, Inc. for submission to the EPA. According to EPL Bio-Analytical, total time from study start to registration is approximately ten months assuming that the EPA operates on a normal time frame. The timing for EPA completion could be slower depending on NVID's financial situation. NVID has had negotiations with possible corporate partners to help fund these endeavors. To date no agreements have been reached; no assurances can be made that these negotiations will prove successful. There is no assurance that these tests will result in the approval of AXEN by the EPA.
NVID has signed an agreement with ETI-H20 Inc. (EPA Est. No. 69999FL) for the manufacturing and sale of AXEN concentrate in Costa Rica, Florida, Georgia, and select southeastern states. Additionally, NVID is considering other manufacturing sites outside the United States for manufacturing purposes.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including product development based on new technologies, applications and acceptance of new products in major markets, the impact of competitive products/pricing and risks and uncertainties involved in foreign operations. These forward-looking statements represent the company's judgement as of the date of this release.
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|Date:||Jun 14, 1999|
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