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American Company Spotlight

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Millennium Biotechnologies Group, Inc. Website:
Click Here |
Information As Of
January 15, 2008 |
| Exchange:
OTCBB |
Market
Cap:
12.5 Million |
| Outstanding Shares:
77.9 Million |
52 Low / High:
$0.121 / $0.24 |
|
Price
January 15, 2008:
$0.16
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MBTG Recent Stock Quote and News:
Click Here |
'The Resurgex®
products differ from products currently on the market in that
they do not contain high-fructose corn syrup or corn oil,
ingredients which may be included in many other brands. These
ingredients add calories without adding any nutritional value
and have shown to correlate with an increase in obesity and
may promote insulin resistance, leading to multiple cancer
complications.'
Overview
Millennium Biotechnologies Group, Inc. engages in the
research, development, and marketing of specialized
nutritional supplements as an adjunct to medical treatments
for select medical conditions, as well as for individuals
seeking improved recovery and advanced performance. The
Company’s currently marketed products are targeted toward
immuno-compromised individuals undergoing medical treatment
for diseases, such as cancer†, as well as individuals living
with Human Immunodeficiency Virus (HIV)/Acquired Immune
Deficiency Syndrome (AIDS) and wound healing and
post-surgical healing, among other conditions.
Millennium's three proprietary, marketed products, which form the Company's
Resurgex(R) Continuum of Care, include Resurgex Select(R), Resurgex(R), and
Resurgex Plus(R). Resurgex Select(R) is a whole foods-based, calorically dense,
high-protein nutritional formula developed for cancer patients undergoing
chemotherapy or radiation treatments. Resurgex(R) and Resurgex Plus(R) are
specialized, anabolic nutritional supplements rich in antioxidants that provide
nutritional support post-treatment. Millennium is also recently developed a
Surgex(R) sports nutrition formula, clinically proven to address the nutritional
concerns of both professional and amateur elite athletes. These athletes often
experience similar symptoms post-workout to those battling immunocompromised
conditions, such as fatigue, loss of lean muscle, oxidative stress, and reduced
immune function.
Investment Highlights
- The Company has recently partnered with P4 Healthcare,
LLC to promote its products to hundreds of private oncology
practices, providing Millennium with exclusive access to
www.caring4cancer.com, a primary source of cancer
information for more than 1.2 million cancer patients
annually.
- Millennium has conducted two double-blind
placebo-controlled clinical trials at Rutgers University
with its Resurgex® Fusion sports nutritional formula among
the Men’s Division I Soccer and Football teams. These
studies demonstrated the product’s beneficial effects as a
post-workout recovery aid versus a placebo, assisting the
athlete in recovery parameters that result in improved
performance.
- Millennium owns all rights to Resurgex Select®, Resurgex®,
Resurgex Plus®, and Resurgex® Fusion formulations, with a
compositional patent application filed for each. Each is
also a registered trademark filed with the U.S. Patent and
Trademark Office, with worldwide patents pending in 57
countries.
- During the National Basketball Association (NBA)
2006-2007 season, there were several NBA organizations that
purchased Resurgex® and or Resurgex® Plus and had players
using the products before and after practices and games.
- Millennium has received Medicaid and Medicare approval
for the Resurgex® line of products in the following states:
Connecticut, Florida, Michigan, Nevada, New Jersey, New
York, and Pennsylvania.
- The nutritional supplement market is expected to
increase to over $6 billion by 2011 from approximately $4.7
billion at year-end 2006, according to Nutritional
Supplements in the U.S., a report from Packaged Facts
published in November 2006.
- The Company already has some of the leading medical
institutions in North America prescribing Resurgex
including Cedars-Sinai, Johns Hopkins, NYU Medical,
Sylvester Cancer Center (Univ. of Miami), Beth Israel and
Mt. Sinai among many others.
Products
Resurgex Select®
Resurgex Select® is a whole foods-based nutritional product
that is designed to be used throughout the course of cancer
treatment (chemotherapy, radiation, etc.), as many times
patients lose weight and cannot consume adequate nutrition.
This product combines dietary fiber (3 g), low sugar (5 g),
and high protein (15 g) with no added antioxidants to be a
high-calorie (350 calorie) supplement. The omission of
antioxidants is important because many oncologists prefer to
avoid the risk that antioxidants may pose during their
patient’s treatments. With this nutritional formula (which
may be administered orally or fed through a gastrointestinal
[GI] tube), the right balance of nutritional support can be
provided in one drink. It is available in three flavors
(Vanilla Bean, Chocolate Fudge, and Fruit Smoothie) and each
can be mixed with water, milk, juices, or in soft cold foods
such as yogurt, apple sauce, or pudding.
Resurgex Plus®
Resurgex Plus® is a high-protein (21 g), high-calorie (400
calorie), antioxidant-rich, enteral nutritional formula
providing multiple comprehensive nutritional regimens into
one drink. This product (which is available in Chocolate and
Vanilla Cream) may serve as a meal replacement or as a sole
source of nutrition when directed by a physician following a
patient’s treatment. Concentrated calories are derived from
high-quality food sources rather than corn oil, sucrose, and
corn syrup, which are commonly found in more well-known
nutritional supplements.
Resurgex®
Resurgex® is a high-protein (12 g), low-sugar (5 g),
low-calorie (90 calorie), antioxidant-rich, nutritional
formula, which may be administered orally or fed through a
GI tube. This drink, which is available in two flavors
(Vanilla Supreme and Fruit Blast), is commonly used as a
nutritional supplement to meals and is intended to promote
wellness. It can also be mixed with water, milk, juices, or
in soft cold foods such as yogurt, apple sauce, or pudding.
Resurgex® Fusion
While Resurgex® and Resurgex Plus® are the first
multi-component nutritional supplements to address the
various dietary needs of immuno-compromised individuals,
Millennium also has (in development) Resurgex® Fusion, a
nutritional support formula that aims to address the
concerns of many elite athletes who suffer from like
symptoms (fatigue, lean muscle loss, lactic acid buildup,
oxidative stress, and stressed immune systems). This formula
includes many of the benefits of the Resurgex® products and
is designed to improve recovery parameters in efforts to
enhance the performance of professional and collegiate
athletes.
While Resurgex® or Resurgex Plus® can be effective when
taken by athletes, the National Collegiate Athletic
Association (NCAA) has specific rules about the use of
certain amino acids, or anabolic agents. In fact, colleges
and universities are prohibited from purchasing any product
that contains amino acids or anabolic agents for athletes.
This led to the development of the Company’s Resurgex®
Fusion nutritional support formula.
The Company’s products are unique in that they deliver
healthy, whole food calories and do not contain high-fructose
corn syrup or corn oil, which are not healthy or suitable
forms of calories for Millennium’s targeted markets. These
ingredients have also shown to correlate with an increase in
obesity, a promotion of insulin resistance, and are implicated
in inflammation and cancer. Additionally, the use of high
levels of Omega-6 fats (corn oil) has been shown to promote
tumor growth in animal models. In contrast, Millennium’s
nutritional products deliver 15 nutraceutical ingredients that
specifically address the needs of chronically ill patients.
Millennium has chosen to focus its current product marketing
efforts toward the medical community, vis-à-vis a
pharmaceutical sales approach and distribution model, as the
Company believes that this approach provides credibility and
legitimacy that competitive brands (which largely target the
mass markets) may lack. Upon reaching the market with its
sports nutritional formula, the Company expects to form
distribution agreements with professional and amateur athletic
organizations.
Growth Strategy & Distribution
Millennium has implemented a variety of strategies and
formed partnerships that are intended to penetrate the various
specialized markets for nutritional products, which are
targeted by the Company (oncology patients, immuno-compromised
individuals, and athletes seeking effective sports recovery).
Currently, products can be purchased through the Company’s
websites,
www.milbiotech.com and
www.resurgex.com, soon through the website
www.caring4cancer.com, or ordered by phone (877) RESURGX.
Additionally, in select areas, Medicaid-associated pharmacies
distribute the Company’s products. Furthermore, select
international distribution agreements are in place, which are
intended to expand the Company beyond U.S. markets.
Various recognized authorities, such as the Mayo Clinic (www.mayoclinic.com),
the National Institutes of Health (NIH), and the Johns Hopkins
Hospital and Health System agree that nutritional supplements
could offer benefits to patients affected by cancer and other
immuno-compromised conditions, whose required nutritional
demands exceed their current intake. However, many of the
well-known and market-leading nutritional supplements, such as
Boost® by Novartis AG
(NVS-NYSE), Ensure® by the Ross Product
Division of Abbott Laboratories Inc.
(ABT-NYSE), Carnation®
Instant Breakfast® by Nestlé S.A. (NESN-VTX), and various
generic products, contain high amounts of high-fructose corn
syrup and corn oil, and provide low-quality protein,
carbohydrates, and fats.
Many cancer patients have metabolic problems, which include
insulin resistance and hyperglycemia, which makes the use of
high-fructose corn syrup even more dangerous to a patient.
Hyperinsulinemia and hyperglycemia are adverse prognostic
factors that increase risk of distant metastases and shorten
survival. Additionally, diets high in simple sugars have
demonstrated to increase the risk of many types of cancer,
cause an increased increment in plasma glucose comparable to
sucrose, and increase insulin resistance.
PRODUCT DISTRIBUTION
Oncology Market Distribution
P4 Healthcare, LLC
Millennium and P4 Healthcare, LLC formed a strategic alliance
in May 2007 to deliver the Resurgex® line of nutritional
products to cancer patients and oncology practices. The
partnership brings Millennium together with P4 Healthcare, a
leading worldwide provider of customized solutions for
oncology practices featuring premier patient educational
resources and practice management tools.
Through its website,
www.caring4cancer.com, and its own patient guide,
Caring4Cancer, P4 Healthcare reaches more than 1.2 million
cancer patients annually. Additionally, many of the nation’s
largest oncology practices now use the Caring4Cancer patient
guide, a quarterly publication serving the interests and needs
of cancer patients, survivors, and their families, as their
primary patient education tool.
Canadian Distribution
In March 2007, Millennium signed a Letter of Intent with a
Canadian subsidiary of an international pharmaceutical company
on terms for the distribution and marketing of the Resurgex®
product line for the Canadian oncology market. Under the terms
of reference, a distribution agreement may be formalized where
Millennium may grant exclusive marketing rights to this
pharmaceutical company to distribute and market its line of
Resurgex® products for cancer patients in Canada. Being run as
a pilot program, this program has the potential to expand into
other areas of the world.
Greek Distribution
In April 2007, the Company entered into an international
distribution partnership with Nutrimedica, a Greek distributor
of nutritional products with knowledge of the local market and
regulations in Greece. Under this agreement, Nutrimedica is to
import and distribute the Resurgex® products to hospitals,
pharmacies, and directly to patients. Nutrimedica has
initiated introduction of the Resurgex® products to the
market, and sales have steadily increased over the past year.
Filipino Distribution
In April 2007, Millennium signed a Letter of Intent to enter
into a distribution agreement with New Marketlink
Pharmaceutical Corp., a Philippine pharmaceutical company, for
the distribution and marketing of the Resurgex® product line
for the oncology market. Under the terms of the Letter of
Intent, a distribution agreement may be formalized where
Millennium could grant exclusive marketing rights to New
Marketlink Pharmaceutical Corp. to distribute and market its
line of Resurgex® products for cancer patients in the
Philippines. Following the Filipino launch, distribution is
expected to expand to Korea, Malaysia, Singapore, Thailand,
Vietnam, Taiwan, and Indonesia.
Sports Nutrition Market Product Distribution
In order to penetrate the sports nutrition market, the Company
expects to directly target the strength/conditioning coaches
of professional sports teams. During the National Basketball
Association (NBA) 2006-2007 season, there were several NBA
organizations that purchased Resurgex® and or Resurgex® Plus
and had players using the products before and after practices
and games. Importantly, since many of the NBA coaches have
come from the NCAA, many coaches at the collegiate level are
aware of the Resurgex® line of products. However, due to NCAA
rules of fairness, no university may offer or distribute
supplements containing amino acids or anabolic agents to its
athletes. For that reason, Millennium has developed an NCAA-compliant
Resurgex® Fusion sports nutrition formula, devoid of amino
acids or anabolic agents, which is fully compliant with the
NCAA rules and could therefore be used by universities. In
addition, each batch of Resurgex® Fusion is certified by the
BSCG to not contain any banned substances.
Other Distributors - Medicare/Medicaid
Millennium has received federal government approval to have
its nutritional products covered by Medicare. After receiving
Medicare approval by the federal government, Millennium
started lobbying state governments for Medicaid approval,
which would allow the Company to have its products distributed
or retailed in HIV clinics, oncology centers, and pharmacies
throughout each state. Currently, Millennium has received
Medicaid and Medicare approval for the Resurgex® line of
products in the following states: Connecticut, Florida,
Michigan, Nevada, New Jersey, New York, and Pennsylvania.
Medical Institutions Prescribing
Resurgex
Many hospitals and pharmacies already prescribe
Millennium’s products for support during oncology treatments
or for recovery. A listing of some of these medical
institutions is provided below:.
|
MEDICAL INSTITUTIONS WHERE RESURGEX IS
PRESCRIBED IN ONCOLOGY OUTPATIENT CLINICS |
| Cedars-Sinai |
MD Anderson |
| City of Hope |
Montgomery Cancer Center |
| Cleveland Clinic |
Northwestern Medical Center |
| Dana Farber Cancer Center |
NYU Medical |
| Fox Chase Cancer Center |
Rush University Medical Center |
| Hillman Cancer Center |
Sammons Cancer Center |
| Johns Hopkins |
Sylvester Cancer Center (Univ. of Miami) |
| Massachusetts General |
University of Illinois Chicago |
Product Distribution in Infectious Disease Markets
The hospitals currently dispensing Millennium’s products
through their infectious disease outpatient clinics are listed
below:
|
MEDICAL INSTITUTIONS WHERE RESURGEX IS
PRESCRIBED IN INFECTIOUS DISEASE OUTPATIENT CLINICS |
| Albany Med |
Gouveneur |
Mt. Vernon |
| Bellvue |
Harlem Hospital |
North Central Bronx |
| Beth Israel |
Interfaith |
Presbeterian |
| Bronx Lebanon |
Jacobi |
St. Barnabas |
| Brookdale |
Kings County |
St. Lukes |
| Brooklyn Med |
Lenox Hill |
St. Vincents |
| Cabrini |
Mary Immaculate |
St. Vincents Midtown |
| Catskill Regional |
Montefiore |
Strong Memorial |
| Downstate |
Mt. Sinai |
Westchester Medical |
Resurgex® Metabolic/Virological:
Quality of Life Study
A six-month study of 26 HIV-1-infected patients on HAART was
conducted at the Center for Family Health at the University
of Medicine and Dentistry of New Jersey (UMDNJ)/St. Mary’s
Hospital (Hoboken, New Jersey). In the study, patients were
given Resurgex® twice daily. A standardized quality of life
questionnaire, approved by the Investigational Review Board
(IRB), was completed at baseline and follow-up visits. The
results of this questionnaire are summarized in the chart
below:

Recent & Potential Milestones
Recent Milestones
- Millennium has recently entered into an agreement with P4
Healthcare, LLC to provide large, private oncology practices
with a means of offering the Resurgex® Continuum of Care to
their patients. The partnership brings together Millennium
with P4 Healthcare, one of the leading providers of
customized solutions for oncology practices featuring
patient educational resources and practice management tools.
Through its website,
www.caring4cancer.com, and patient
guide, Caring4Cancer, more than 1.2 million cancer patients
are reached annually. Many of the nation’s largest oncology
practices now use the Caring4Cancer patient guide, a
quarterly publication serving the interests and needs of
cancer patients, survivors, and their families, as their
primary patient education tool. With coverage of all aspects
of cancer care—from diagnosis and treatment to side effect
management, nutrition, finances, sexuality, spirituality,
and lifestyle matters—Caring4Cancer has become a key patient
education resource prescribed by doctors and nurses just as
they prescribe medication or therapy.
- Millennium conducted two double-blind placebo-controlled
clinical trials for its sports nutritional formula at
Rutgers University among the Men’s Division I Soccer and
Football teams. These studies demonstrated the product’s
beneficial effects as post-workout recovery aid versus
placebo, assisting the athlete in maximizing training
responses and assisting in optimal recovery.
- Millennium recently created (not yet on the market) a
compliment to the Resurgex® Continuum of Care in the form of
confectionary bars and freeze pops. These newly developed
line extensions are expected to provide the same quality
nutrition as the beverages. The freeze pops could become an
attractive option for head and neck cancer patients who have
difficultly or are incapable of swallowing, whereas the bars
may become a more attractive option for athletes.
- Received AIDS Drug Assistance Program (ADAP) approval in
New York.
- Received Special Pharmaceutical Benefits Program approval
in Pennsylvania.
- Resurgex® has been dispensed in over 315 different
pharmacies in seven different states.
- Resurgex® is available through large national and regional
pharmaceutical wholesalers, including Kinray Inc., Cardinal
Health Inc.
(CAH-NYSE), Amerisource-Bergen Corp.
(ABC-NYSE),
McKesson Corp.
(MCK-NYSE), Bellco Health Corp., and
Rochester Drug.
- Resurgex® is now being prescribed in many prestigious
medical institutions nationwide.
Potential Milestones
- Millennium is expected to launch its Resurgex® Fusion
sports nutrition formula into the market by the end of 2007.
- The Company is in the process of developing a formula to
address the tube-feeding market and has targeted to enter
this market by the first quarter 2008.
- Millennium is expected to bring to market its
confectionary bars and freeze pops, which could provide the
same quality and benefit as the beverages.
- The Company is expected to enter into additional
distribution agreements.
Recent News and Press Releases
MILLENNIUM BIOTECHNOLOGIES GROUP INC Financials
(Fri, Dec 14)
MILLENNIUM BIOTECHNOLOGIES GROUP INC Files SEC form
8-K, Unregistered Sale of Equity Securities,
Financial Statements (Fri, Dec 7)
Millennium Ships and Records the First $200,000 of
Revenue Generated From the Five-Year $20,000,000
Exclusive Purchase Order (Thu, Dec 6)
Millennium Biotechnologies, Inc. Launches SURGEX(TM)
the First Scientifically Validated Sports
Nutritional Product Created from the Medical Markets
(Mon, Nov 26)
MILLENNIUM BIOTECHNOLOGIES GROUP INC Files SEC form
10QSB, Quarterly Report (Mon, Nov 19)
Millennium Biotechnologies Inc. Signs Five Year
$20,000,000 Purchase Agreement with Provider
Services Inc. of Cleveland, Ohio (Tue, Nov 13)
MILLENNIUM BIOTECHNOLOGIES GROUP INC Files SEC form
8-K, Change in Directors or Principal Officers,
Financial Stateme (Tue, Sep 11)
MILLENNIUM BIOTECHNOLOGIES GROUP INC Files SEC form
8-K, Unregistered Sale of Equity Securities,
Financial Statements (Fri, Sep 7)
MILLENNIUM BIOTECHNOLOGIES GROUP INC Files SEC form
10QSB, Quarterly Report (Mon, Aug 20)
Management
Jerry E. Swon, President, Chief Executive Officer, and
Chairman
Mr. Jerry E. Swon, a founder of Millennium, has been the
Company’s president and chief executive officer (CEO) since
its formation, and its president, CEO, and chairman of the
Board since July 2001. Prior to joining Millennium, and
since 1992, he was the CEO of Royal Capital Inc., a New
Jersey-based company that provided financial consulting and
corporate structuring services to private and public
companies. In 1998, Mr. Swon served as CEO and as a director
of Magnitude Information Systems Inc., a company engaged in
the design and development of ergonomic software for office
uses. He was also co-founder of the Tax Transfer Corporation
of New Jersey in 1999. Mr. Swon received a B.A. from Hamline
University in 1972.
Frank Guarino, Chief Financial Officer
Mr. Frank Guarino has been Millennium’s chief financial
officer (CFO) since October 2001. He was previously employed
from December 1997 through February 2001 as the controller
with First National Funding Corporation of America, a
mortgage banking firm with 55 branches nationwide producing
over $350 million in annual volume at the time of his
departure. Mr. Guarino earned a B.S. in accounting from St.
Peter’s College in 1997.
Carl Germano, Executive Vice President, Research and
Product Development
Mr. Carl Germano serves as Millennium’s executive vice
president of research and product development. He is a
registered, certified, and licensed nutritionist. Mr.
Germano holds a Master’s degree in clinical nutrition from
New York University and has over 27 years of experience
using innovative, complementary nutritional therapies in
private practice. For the past 20 years, he has dedicated
his efforts to research and product development for the
dietary supplement and medical foods industries, where he
has been instrumental in bringing unique nutritional
substances and formulations to the health/dietary supplement
industry. From April 1999 to July 2001, Mr. Germano was
senior vice president of research and product development
with Nutratech, Inc., a nutraceutical raw materials
supplier. From 1992 to 1999, he was vice president of
product development and research with Solgar Vitamin and
Herb (noting that in 2005 NBTY Inc.
[NTY-NYSE] purchased the Solgar Vitamin and Herb Co. from Wyeth Consumer Healthcare
[WYE-NYSE]).
Contacts
Millennium Biotechnologies, Inc.
665 Martinsville Road, Suite 219
Basking Ridge, New Jersey 07920
Phone: (908) 604-2500
Toll Free: (888) 412-9179
Order : 1-877-RESURGX (737-8749)
Fax: (908) 604-2545
email:
info@milbiotech.com
FORWARD LOOKING STATEMENTS
This report includes forward-looking
statements that reflect Millennium
Biotechnologies, Inc. current
expectations about its future results, performance,
prospects and opportunities.
Millennium Biotechnologies, Inc. has
tried to identify these forward-looking statements by using
words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to
a number of risks, uncertainties and other factors that
could cause Millennium
Biotechnologies, Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and
other factors include, without limitation, the Company's
growth expectations and ongoing funding requirements, and
specifically, the Company's growth prospects with scalable
customers, and those outlined above. Other risks include the
Company's limited operating history, the Company's history
of operating losses, consumers' acceptance, the Company's
use of licensed technologies, risk of increased competition,
the potential need for additional financing, the terms and
conditions of any financing that is consummated, the limited
trading market for the Company's securities, the possible
volatility of the Company's stock price, the concentration
of ownership, and the potential fluctuation in the Company's
operating results.
Disclaimer
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company web site and other publicly available sources deemed
reliable. For more information see our disclaimer section, a
link of which can be found on our web site. This document
contains forward-looking statements, particularly as related
to the business plans of the Company, within the meaning of
Section 27A of the Securities Act of 1933 and Sections 21E
of the Securities Exchange Act of 1934, and are subject to
the safe harbor created by these sections. Actual results
may differ materially from the Company's expectations and
estimates. This is an advertisement for
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advertising, is to provide coverage and awareness for the
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