BELTSVILLE, Md., Jun 9, 2004 -- Spherix Incorporated (SPEX), today reported that its licensee, Arla Foods Ingredients of Denmark, has granted Nutrinova Pty Ltd of Australasia the exclusive rights to distribute the Firm's revolutionary sweetener, tagatose, in Australia and New Zealand. Tagatose is being marketed and produced by Arla Foods for use in foods and beverages under the brand name Gaio(R) tagatose. For more information on the food and beverage uses of tagatose, see Arla's http://www.gaio-tagatose.com website.
On April 29, 2004, the statutory authority Food Standards Australia New Zealand approved the use of tagatose in foods (see Spherix press release of April 29, 2004). Tagatose tastes and acts like table sugar, and can be used as a sugar replacement, or to improve the mouthfeel, sweetness, and flavor profile of products containing high-intensity sweeteners. Unlike table sugar and many other sweeteners, tagatose is low-calorie, full-bulk, prebiotic, and low-glycemic. Importantly, it does not promote tooth decay, greatly enhancing its potential for use in foods and beverages.
In related news, Miada Sports Nutrition of New Zealand has announced plans to develop and market a new line of carbonated, protein-enriched, energy and diet drinks and protein bars, flavor-enhanced with Gaio(R) tagatose, under its product line brand named WHOOP ASS(R). This use of tagatose is in addition to the new line of chocolate products being launched by Miada called Miada(R) ChocoLite(TM) (see Spherix press release of May 27, 2004). For more information, see Miada's website, http://www.miadasport.com.
In 1996, Arla Foods Ingredients licensed the exclusive worldwide rights to produce and commercialize tagatose for use in foods and beverages from Spherix. Arla and Nordzucker, a German sugar producer, have formed a joint venture company named SweetGredients to manufacture and market Gaio(R) tagatose. The first commercial production of tagatose was announced in May 2003.
Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on March 3, 1999.
Under its motto, "A World of Solutions," Spherix's mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in information technology, knowledge management, and biotechnology.