Vancouver, Canada - Forbes Medi-Tech Inc. (TSX:FMI, NASDAQ:FMTI or NASDAQ:FMTID) today announced that it has entered into collaboration with Max food ingredients GmbH, a member of the Uplegger food company GmbH group. Max food ingredients GmbH was formed for the purpose of selling Forbes' proprietary sterol ingredient, Reducol(tm), and has obtained exclusive rights for Germany, Austria and Switzerland.
"With its in-depth knowledge of the German market, close high-level contacts at major German retailers and manufactures, the Uplegger food company GmbH has significantly strengthened our European network.
Partnering with established food producers and distributors has already proven successful with Forbes-Fayrefield in the UK, France, The Netherlands and Portugal and with Scanvit Oy in Scandinavia," said Laura Wessman, Senior Vice President Operations, Forbes Medi-Tech Inc.
About Uplegger food company GmbH
One of Germany's oldest registered companies, Uplegger food company GMBH, was incorporated in 1884, and has maintained its focus in the marketing, distribution and sale of chilled food, with particular emphasis on dairy. Today, Uplegger food company GMBH is a group of 10 companies, the most recent of which is Max food ingredients.
About Forbes Medi-Tech Inc.
Forbes Medi-Tech Inc. is a life sciences company dedicated to the research, development and commercialization of innovative products for the prevention and treatment of life-threatening disease. Our strategy and vision is to develop and market a portfolio of products for the benefit of all consumers, from the healthy person desiring consumer lifestyle products that can help reduce the risk of future disease, to medical patients needing therapeutic prescription products for the treatment of an established ailment. Additional information on Forbes Medi-Tech can be found at www.forbesmedi.com
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NASDAQ and the Toronto Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this News Release. Forbes Medi-Tech ("Forbes" or the "Company") has relied solely on Uplegger food company GmbH for the information about Uplegger food company GmbH provided in this News Release and the Company disclaims any liability with respect to such information.
This News Release contains forward-looking statements and information regarding Forbes' collaboration with Max food ingredients GmbH, sales of Reducol(tm), and Forbes' strategy and vision, which statements can be identified by the use of forward-looking terminology such as "selling", "strategy" and "vision". The Company's actual results could differ materially from those anticipated in these forward-looking statements and information as a result of numerous factors, including the Company's need for funding in the near term, the availability and sufficiency of which is not assured; strategic partnership risks and the need for performance by Max food ingredients GmbH; market risks; intellectual property risks; manufacturing risks; product liability and insurance risks; the effect of competition; changes in business strategy or development plans; uncertainty whether the Company will realize is strategies and vision; and other risks and uncertainties, as contained in news releases and filings with Securities Regulatory Authorities in Canada and the U.S. at www.sedar.com and at www.sec.gov , any of which could cause actual results to vary materially from current results or the Company's anticipated future results.
Forward-looking statements and information are based on the assumptions, beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update any statement should those assumptions, beliefs, opinions or expectations, or other circumstances change.