Eugene Science, Inc.: Eugene Science Signs Major Distribution Agreement With RexGene Biotech
Eugene Science Signs Major Distribution Agreement With RexGene BiotechRexGene to Manufacture and Market Several CZ(TM) Products LOS ANGELES, CA — (MARKET WIRE) — November 14, 2006 — Eugene Science, Inc. (OTCBB: EUSI), adeveloper and marketer of advanced nutraceutical products, today announcedit has established a strategic distribution alliance with
RexGene Biotechunder which RexGene will manufacture and market severalcholesterol-lowering nutracuetical products containing Eugene Science’spatented CZ™ ingredient.
Founded in 1995, Seoul, Korea-based RexGene is a publicly traded (Kosdaq)major manufacturer, marketer and distributor of various health andnutritional products. With sales of more than $20 million, it has aproprietary catalog of 180 popular products ranging from a phytoestrogenfemale hormone supplement to gamma-linoleic acid for blood circulation andglucosamine for joint function.
The companies have signed a signed a memorandum of understanding underwhich RexGene will purchase Eugene Science’s water soluble CZ™ plantsterol ingredient for inclusion in a new line of RexGenecholesterol-lowering nutraceutical products such as capsules, beverages andmore.
Definitive product distribution agreements will be put in place in theweeks ahead as RexGene is to develop and launch the first of severalCZ™-based products beginning in January, followed by other productlaunches throughout the first half of 2007. Based on its considerableexperience, RexGene’s forecast for CZ™ purchases to support amass-market,multi-product line of cholesterol-lowering supplements indicate RexGenewould become one of Eugene Science’s largest customers in early 2007.
RexGene has large-scale nutritional supplement manufacturing facilities,extensive marketing reach and capability with nearly 30 distributionchannels including large corporations such as KT&G (Korean Tobacco andGinseng), High-living (network marketing), Korea’s largest drugstore chainOnnuri (1,500 member stores), Sanga Pharmaceutical Co., online shoppingmalls and many others.
To build brand value rapidly, RexGene will market its CZ™ product linethrough multiple channels including network marketing, drug store chains,online shopping malls and direct response home shopping television startingin January.
Additionally, the Eugene Science retains overseas distribution rights, toinclude the United States, for RexGene-manufactured CZ™ finishedproducts, providing Eugene Science distribution leverage with added productto push through its existing and new distribution channel partnersthroughout Asia and elsewhere.
“The Eugene Science water soluble CZ™ ingredient is the ideal platformupon which RexGene will create a large and important new product line thatwe are confident will by met with strong demand by South Korea’s 50 millionconsumers,” said IL Jae Jung, Senior Marketing Manager, RexGene. “Bothcompanies share a deep commitment to bringing state-of-the-artnutraceutical products to market, and we believe this strategic allianceoffers great potential.”
“RexGene is a terrific company with powerful integrated development,manufacturing and marketing ability,” said Seung Kwon Noh, Chief ExecutiveOfficer, Eugene Science. “Their product development and sales capability issecond to none and will enable Eugene Science to rapidly build CZ™ salesin Korea while putting new products through our growing overseasdistribution network.”
“Our marketing team is continuing to develop new product and marketopportunities and I expect we will establish additional distributionagreements in the weeks ahead,” Mr. Noh added.
About RexGene Biotech
For additional information about RexGene Biotech, please visit its websiteat http://www.RexGenebio.co.kr/english/home/main/Info.php?code=AA.
About Eugene Science
Based in Bucheon, Kyunggi-Do, Korea, Eugene Science is a globalbiotechnology company tackling ailments such as heart disease, obesity anddiabetes through innovation in the nutraceutical field. Its firstcommercial heart disease product, CZ™, is a patented, nanoscience-based,water-soluble functional food ingredient containing natural plant sterolsthat help maintain healthy cholesterol levels by inhibiting its absorption.CZ™ is available in capsule form, or as a food or beverage additive.These plant sterols are approved by the U.S. FDA for health claims relatedto cholesterol lowering efficacy. Please visit www.eugene21.com.
This document contains forward-looking statements within the meaning ofSection 27A of the Securities Act of 1933, as amended, and Section 21E ofthe Securities Exchange Act of 1934, as amended. In addition, from time totime, Eugene Science, or its representatives, have made or may makeforward-looking statements, orally or in writing. The words “estimate,”"project,” “potential,” “intended,” “expect,” “anticipate,” “believe” andsimilar expressions or words are intended to identify forward-lookingstatements. Such forward-looking statements may be included in, but are notlimited to, various filings made by Eugene Science with the United StatesSecurities and Exchange Commission (available at www.sec.gov), pressreleases or oral statements made with the approval of an authorizedexecutive officer of Eugene Science. Actual results could differ materiallyfrom those projected or suggested in any forward-looking statements as aresult of a wide variety of factors and conditions. Reference is herebymade to Eugene Science’s Annual Report on Form 10-KSB for the fiscal yearended December 31, 2005 for information regarding those factors andconditions. Among the important factors that could cause actual results todiffer materially from management’s projections, estimates and expectationsinclude, but are not limited to: changing economic influences in thenutraceutical industry; dependence on key personnel; actions of thirdparties; the market for nutraceutical products containing Eugene Science’sCZ™ ingredient, and availability of adequate financing. Readers arecautioned not to place undue reliance upon these forward-looking statementsthat speak only as of the date of this press release. Eugene Scienceundertakes no obligation to update publicly any forward-looking statementsto reflect new information, events or circumstances after the date of thispress release or to reflect the occurrence of unanticipated events.
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