DAYTON, N.J., Aug 31, 2005 /PRNewswire via COMTEX/ -- Phytomedics Inc., a biopharmaceutical company merging health care and plant biotechnology to discover, develop and manufacture novel botanical therapeutics, announced today that it has signed an agreement with McNeil Nutritionals, LLC, a Johnson & Johnson company, for the development and commercialization of novel botanical therapeutics. The terms of the agreement were not disclosed.
"Today's announcement is another key milestone in the development of Phytomedics and demonstrates our leadership in the botanical therapeutics field," said Dr Bertold Fridlender, President and CEO of Phytomedics. "We are delighted to be working with McNeil Nutritionals, a clear leader in the global health and wellness arena."
Phytomedics defines botanical therapeutics as health and wellness products derived from plants and delivered in the form of pharmaceuticals, dietary supplements, functional foods, or cosmetic ingredients. Through state-of- the- art, proprietary approaches, Phytomedics' botanical therapeutics program reconnects plants and human health at a new level of technological sophistication.
About Phytomedics Inc.
Phytomedics Inc. (www.phytomedics.com) uses a broad and innovative proprietary technology platform to discover, develop and manufacture novel, multi-component and multi-functional botanical therapeutics such as botanical drugs and nutraceuticals, as well as recombinant proteins. Through this proprietary technology platform, the Company has produced a pipeline of lead compounds, several of which are in clinical development, some as far as Phase II. Founded by Professor Ilya Raskin, Ph.D., Phytomedics Inc. conducts most of its R&D at the Biotech Center of Rutgers University.