EDMONTON, ALBERTA--(CCNMatthews - Nov. 17, 2004) - CV Technologies Inc. (TSX VENTURE:CVQ) (CVT) today issued a shareholder's advisory on company happenings of note which include the following:
- On November 12, 2004, CVT entered into a distribution agreement with "Extended Care Pharmacy" (ECP) headquartered in Calgary, to sell COLD-fX(R) directly to ECP's customers in United States as well as indirectly to other cross border pharmacies in Canada. ECP's President, Andy Troszok says, "We are very excited about this agreement since our preliminary customer surveys tell us there is a high level of interest in products such as COLD-fX(R). This
coupled with a shortage of flu vaccines in the States presents a very interesting opportunity for both Extended Care Pharmacy and CVT." Extended Care Pharmacy is one of approximately 150 Canadian cross border pharmacies which
specialize in providing prescription drugs into the massive U.S. pharmaceutical market. Currently that market is estimated at $1 Billion Retail (Cdn) annually.
CVT's president and CEO, Dr. Jacqueline Shan, says: "Selling COLD-fX(R) to U.S. consumers through cross border pharmacies located in Canada is a good way for our Company to start developing product awareness. This will also give us a chance to determine consumer acceptance of COLD-fX(R) in the U.S. without compromising our current focus on expanding and strengthening our Canadian market. COLD-fX(R) is the first ever natural health product to successfully complete an FDA regulated Phase II, double-blind, placebo-controlled clinical trial. The study was conducted at 5 U.S. nursing homes and showed that COLD-fX(R) reduced laboratory confirmed upper respiratory infection induced by influenza and Respiratory Syncytial Virus by 89%.
- As a result of media coverage of the recent announcement of the results of our 7th clinical trial conducted by Edmonton's Medical Officer of Health and a senior researcher at the University of Alberta, coupled with promotional
advertising and merchandising support featuring Don Cherry, a significant increase in consumer demand for COLD-fX(R) is continuing on a national basis. Major retailers are experiencing strong sales across all channels with significant repeat orders and full national distribution will help to sustain sales growth of COLD-fX(R) across Canada. This is the first winter with retail penetration within Quebec and combined with stronger Ontario distribution, this should help drive our sales growth and support our Canadian business. The flu season has created much concern among Canadians and COLD-fX(R) is proven to be a safe complement to the flu shot.
- REMEMBER-fX(R), the newest product to be rolled out by CVT is posting strong sales and increased distribution. Continued marketing efforts are planned for this science-based product, which helps promote mental alertness and memory enhancement.
- CVT's alliance with elite athletes has entered a new phase. Recognizing that CFL teams are supporters and strong users of COLD-fX, CVT is pleased to announce that it is a proud sponsor of the 2004 Grey Cup and the CFL. COLD-fX
is the CFL'S choice for the prevention and relief of colds & flu. COLD-fX has exposure during the conference playoff games in Toronto, Montreal and the Grey Cup within Ottawa.
- CVT is a finalist for the 2004 BioAlberta Awards, and a nominee for Alberta Venture magazine's list of the "30 Fastest Growing Companies in Alberta".
- Earlier this month, Dr. Shan gave a major speech at an international meeting of world experts in natural medicines in Taiwan at the invitation of the Taiwanese Government.
- Dr. Shan is scheduled to be a speaker at an investor forum in Toronto on November 18th sponsored by InfoVest, and two days later she will be speaking at an investor forum in Edmonton sponsored by National Bank Financial.
- On November 25th, Dr. Shan is scheduled to speak at the 3rd Annual Price-Waterhouse CEO forum in Edmonton.
About Andy Troszok
Mr. Trozak is a graduate pharmacist, who for four years was a specialist in sports medicine at the Olympic training centre in Calgary (Canadian Sport Centre Calgary).
He has been actively involved in promoting cross border pharmacies and has testified before the U.S. Congress on the safety of Canadian medications.
CV Technologies is a biotechnology company founded in 1992. It aims to become a global leader in the development, distribution, marketing and selling of safe and effective natural health products for disease prevention and health
maintenance. CVT's lead product is COLD-fX(R), a natural health compound which strengthens the immune system and is widely used as a leading anti-cold, anti-flu treatment. The product is patented and is unique and was developed and
standardized according to the Company's ChemBioPrint technology, a patented process that precisely identifies the chemical profile and biological activity of natural health products. This is a combination of chemical and
pharmacological fingerprinting that ensures each batch of products delivers verifiable and provable health benefits, and is both safe and consistent with previous batches.
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.
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