REDMOND, Wash.--April 3, 2003--SCOLR, Inc. (OTCBB:SCLL) announced today that the Company is preparing to ship its patented CDT(TM) Glucosamine/Chondroitin to its first-to-market European customer, Springfield Nutraceuticals BV. Initial deliveries of the tablets are scheduled to coincide with the customer's product roll-out in May.
Glucosamine is a BCS (Biopharmaceutical Classification Scheme) class 1 ingredient, and as such is highly suited to CDT(TM) controlled delivery technology. Glucosamine and chondroitin are used to help diminish the joint damaging effects of osteoarthritis. SCOLR's CDT(TM) Glucosamine/Chondroitin provides the consumer with the convenience of a once-daily dosage by supplying a smooth, prolonged release of glucosamine in the gastro-intestinal tract, thereby providing for control of symptoms over 24 hours.
Springfield Nutraceuticals BV, located in Oud-Beijerland, The Netherlands, provides science-based nutritional products to countries such as Germany, the United Kingdom, Belgium, Switzerland and others.
According to Peter van Hogerhuis, General Manager of Springfield: "The company expects to expand distribution in Southern Europe later this year. In the short five-year period the Springfield trademark has existed, Springfield has become known as an innovative, science- and marketing-driven company. Springfield intends to roll out the unique CDT(TM) Glucosamine/Chondroitin all over Europe through selective partners, such as well established wholesalers and drugstore chains. SCOLR's CDT(TM) Controlled Delivery Technology, combined with glucosamine/chondroitin, offers a great advantage over the competition and will strengthen our position as an innovative supplier of nutraceuticals."
David Howard, President and CEO of SCOLR, stated: "We are confident that CDT(TM) glucosamine & chondroitin will provide a significant marketing advantage to Springfield and will help it to compete in a category that has many competitors offering products lacking differentiation and meaningful benefits to consumers.
"This first European commercialization of our patented CDT(TM) technology will help to generate early revenue streams from dietary supplement products -- which will provide some support for the significant longer-term investments necessary to bring a prescription drug utilizing our CDT(TM) technology to market after 2005. We believe that the important manufacturing advantages provided by our CDT(TM) technologies and platforms will result in additional partnerships to develop unique products utilizing these platforms.
"This is the classic example of what we do. We take proven products and make them better so that the consumer is buying a better product and the marketer of the product can position its product so as to stand out from its competitors. Once again, SCOLR has been first to introduce a major new delivery platform into a growth market and to answer unsatisfied market needs through innovative technology.
"We are pleased with our on-going progress to provide the nutritional, OTC and pharmaceutical industries with science-based, innovative products. We continue to collaborate with companies seeking innovative delivery solutions which offer their products a commercial advantage. In an increasingly competitive marketplace, the ability to garner attention over multiple competitors often relies on the edge afforded when superior technology is backed with targeted marketing," Howard concluded.
Based in Redmond, Washington, SCOLR, Inc. (formerly Nutraceutix, Inc.) is a biopharmaceutical company leveraging specialized knowledge, proprietary and patented products, and technologies, such as the patented CDT(TM) Controlled Delivery Technology platform, to introduce distinctive and novel OTC products, prescription drugs and dietary supplements. SCOLR currently operates in two business segments -- drug delivery and nutraceuticals. Its CDT(TM) drug delivery platform provides distinctive products with tangible benefits for the consumer and competitive commercial advantages for licensees. Established partnerships with pharmaceutical, OTC and natural products industry companies enable SCOLR to co-develop new products and to add value and protection to existing product franchises. For more information on SCOLR, please call 1-800/548-3222 or visit http://www.SCOLR.com.
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 37A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties, including activities, events or developments that the company expects, believes or anticipates will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward- looking statements, including the Company's ability to continue to successfully market and provide its products and services and maintain their effectiveness, the continuation of the arrangements with the Company's product development partners, the ability of the Company to meet its financial projections, and general economic conditions. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information or otherwise.