New OTC Medical Food for Dietary Management of Asthma Slated for April Test Launch in Select Markets in Carolinas
CHARLESTON, S.C., Feb. 11 /PRNewswire-FirstCall/ -- Pilot Therapeutics Holdings, Inc. (OTC Bulletin Board: PLTT), a specialty pharmaceutical company developing and commercializing a portfolio of pharmaceutical and clinically validated over-the-counter (OTC) products, today announced that it will test market Airozin(TM), its lead OTC medical food product for the dietary management of asthma, beginning April 7, 2003. Airozin(TM) will be available in supermarkets with pharmacies, drug stores and mass merchandise outlets in targeted markets in the Carolinas.
"We are extremely pleased to announce that Airozin(TM) will soon be commercially available. Having our first product on retail shelves will be a significant milestone for Pilot and will be the culmination of over 20 years of research at Pilot Therapeutics as well as Johns Hopkins University and Wake Forest University Medical Centers. The launch will generate validated sales and approaches in preparation for the nationwide product introduction of Airozin(TM)," said Floyd "Ski" Chilton, Ph.D., Pilot's founder, president and chief executive officer.
The retail test will be coordinated by ACNielsen Market Decisions, a wholly owned subsidiary of ACNielsen, the world's leading marketing information company and the leader in custom, in-store sales research for consumer product manufacturers. ACNielsen Market Decisions will distribute the product, collect and report weekly sales data, and provide a year-one national volume forecast. Additionally, they will monitor and report trade and consumer reactions based on actual sales after completion of the test period.
Following the estimated six-month test period, the company will analyze the data collected to refine its strategy for an anticipated national launch. "We expect that the test results will give us valuable information on consumer acceptance of Airozin(TM)," Dr. Chilton commented. "ACNielsen has an outstanding reputation for delivering highly predictive retail sales projections at a national level. We believe we will be able to use this information to maximize our opportunities to create the OTC medical food asthma category and generate revenues from Airozin(TM)."
Airozin(TM) is the first OTC medical food for asthma and is intended to be added as a dietary component of a patient's existing asthma treatment program. It is an oral, once-a-day medical food that has been tested for safety and efficacy in five clinical trials at major medical centers and contract research organizations. Through the diet, Airozin(TM) inhibits the production of leukotrienes, substances that cause many of the signs and symptoms of asthma. Inhibiting leukotrienes is known to decrease the frequency and severity of asthma attacks. Approximately 20 million Americans are afflicted by asthma; this incidence is projected to double by 2020.
Pilot Therapeutics Holdings, Inc. is a specialty pharmaceutical company that, through its subsidiaries, is developing and commercializing a pipeline of novel prescription and over-the counter (OTC) medical food products. The Company's products are positioned to meet the untapped demand in the marketplace for safe and efficacious natural products and the desire of patients to control their own health. The Company utilizes a proprietary, state-of-the-art fatty acid and genomic profiling research platform, "Functional Liponomics(TM)," to discover and develop both medical food and prescription products for chronic inflammatory human diseases. The Company's pipeline of products addresses several disease categories including asthma, elevated triglycerides associated with cardiovascular disease, diabetes, and stroke, arthritis, cancer, and allergic rhinitis. Its lead OTC medical food product, Airozin(TM), is the first clinically proven OTC maintenance product for the dietary management of asthma, a disease that afflicts approximately 20 million Americans. Pilot Therapeutics Holdings, Inc.'s common stock is traded on the Over-the-Counter Bulletin Board under the ticker symbol "PLTT.OB."
Certain statements in this press release are forward-looking in nature and relate to our plans, objectives, estimates and goals. Such statements are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this report. The terms "expect," "anticipate," "believe," "intend," "estimate," "plan," and "project" and similar words or expressions are intended to identify forward-looking statements. The forward-looking statements are based on current expectations, are inherently uncertain, are subject to risks, and should be viewed with caution. Our business is subject to many risks and uncertainties, including our ability to register, commercialize or license our products successfully and to promote physician and patient acceptance of our products, our need to obtain substantial additional capital to fund our operations and the progress of development, and the uncertain regulatory environment (and the resulting requirements and restrictions regarding pre-marketing approval and label and promotional claims), surrounding our lead product. These and other risks and uncertainties, many of which are described in more detail in our Annual Report on Form 10-KSB under "Risk Factors," could cause actual results and experience to differ materially from those expressed or implied by any of these forward- looking statements.
For more information about Pilot Therapeutics, visit www.pilott.com