EDMONTON, ALBERTA--CV Technologies Inc. (TSX-VEN:CVQ) and Centaur Pharmaceuticals today announced the creation of the joint venture company, Vet Ex Inc. Vet Ex is a new Alberta-based company that has licensed the veterinary rights for CV Technologies' nutraceutical products and its ChemBioPrint(TM) technology. The license is exclusive in the U.S. and most markets around the world. Vet Ex will use the ChemBioPrint(TM) technology and CVT's products to create, further develop and then commercialize nutraceutical products for the veterinary market.
The ChemBioPrint(TM) technology is unique in both the veterinary and human natural health industry. The technology provides consumers an unparalleled level of assurance of both effectiveness and safety.
Kim Lucas, CVT's president & CEO, stated: "This is another significant step forward for CVT in the commercialization of our products and technology. Centaur Pharmaceuticals is a strong partner for CVT. They have depth in experience, proven capability and bring established relationships with key players across North America. Within a short period of time, I expect Vet Ex to form a valuable part of our revenue."
Centaur Pharmaceuticals, through its fully owned subsidiary Centaur VA Animal Health, is one of the most dynamic Canadian - owned animal health companies. The management of the privately owned Centaur has extensive experience in international animal health. Centaur manufactures and distributes a range of pharmaceuticals, nutraceuticals and allied preparations to the veterinary profession. Centaur's president Dr. Chas Povey cites the Vet Ex joint venture with CV Technologies as "an ideal combination of breakthrough science in the pharmaceutical evolution of natural extraction with the innovative ability to solve some of the most important needs in today's global animal health marketplace. VetEx will provide veterinarians and animal agriculture with new, safer, quality-assured answers to disease control and health maintenance."
CV Technologies Inc. developed its premium line of HerbTech(R) Natural Health Products, using its proprietary ChemBioPrint(TM) technology and is now commercializing them worldwide. CVT's vision is to empower personal wellness by becoming a global leader in the development, distribution, marketing and selling of safe and effective natural substances for disease prevention and health management. More information about CV Technologies, Inc. can be found at www.cvtechnologies.com and www.sedar.com
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "intends", "expects" and similar expressions are intended to identify forward-looking statements. Such risks and uncertainties include, but are not limited to, the need for capital, changing market conditions, completion of clinical trials, patient enrolment rates, uncertainty of pre-clinical, retrospective and early clinical trial results, the establishment of manufacturing processes and new corporate alliances, the timely development, regulatory approval and market acceptance of the Company's products, and other risks detailed from time to time in the Company's filings with Canadian securities authorities.