PRNewswire
03-AUG-98
PHOENIX, Aug. 3 /PRNewswire/-- Empyrean Diagnostics, Inc. (OTC Bulletin Board:
EMDG), a publicly traded health care company headquartered in Phoenix, Arizona
announced the signing of a sub-license agreement with Prevent-X, Inc., a
Miami, Florida based product marketing group. The agreement provides Empyrean
with exclusive rights to manufacture and distribute the GEDA lotion in the
United States. Under terms of the agreement, Empyrean will give Prevent-X a
combination of 225,000 shares of Empyrean stock and US $50,000 dollars, and a
royalty for 10 years.
Stephen Hayter, President and Director of Empyrean stated, "This sub-license
agreement with Prevent-X gives Empyrean the ability to market both the
contraceptive gel and hand sanitizer lotion in the United States as the
exclusive provider of these exciting new products." Hayter goes on to say
"GEDA lotion is an unique anti-bacterial hand lotion which provides up to four
hours of protection against 99.9% of all common household germs. It also has
first aid antiseptic qualities which makes it ideal for cuts and abrasions. It
contains no alcohol and will not sting when applied. Empyrean will likely
market the contraceptive gel and anti-bacterial lotion under the retail name
of 'Empirynol Plus'".
The hand sanitizer retail market in the United States is approximately $100
million dollars. The worldwide market is $400 million dollars. There is even a
larger institutional market for this product in hospitals, doctor offices,
labs, restaurants, airlines and hotels. Empyrean's hand sanitizer has
advantages over the current products on the market since it does not contain
alcohol and maintains its anti-bacterial effectiveness for a minimum of four
hours. The added ingredient of aloe vera helps moisturize and soften skin.
Empirynol Plus Contraceptive Gel will be launched after the Empirynol Hand
Sanitizer. The gel completed Phase I and Phase II studies which proved safe
and efficacious in killing the sexually transmitted diseases of syphilis,
gonorrhea, chlamydia, HIV, hepatitis, herpes, trichomonas, and other viruses
and bacteria. Currently, the gel is under a Phase III clinical trial funded by
the National Institute of Allergy and Infectious Disease, a department of the
National Institutes of Health. The Phase III study will determine the
product's final status as a spermicide and a microbicide.
The current US market for contraceptive products is $300 million dollars. When
the Empyrean gel is cleared for sale, the additional claims of preventing the
spread of sexually transmitted diseases may expand the Market to $500 million
in the United States, and over $1 billion worldwide.
Empyrean is a health care company specializing in developing and marketing
products to diagnose, prevent, and treat sexually transmitted diseases.
Empyrean's portfolio of products includes a five-minute HIV-1, 2 assay, an
approved hand sanitizer, a female contraceptive gel, and a culture test for
trichomonas. The FDA has cleared the trichomonas test for sale in the US.
This press release includes statements which may constitute forward looking
statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These statements are subject to
risks and uncertainties that could cause actual results to differ materially
from the forward looking statements. Factors which would cause or contribute
to such differences include, but are not limited to, factors detailed in
Securities and Exchange Commission filings.
/CONTACT: Stephen D. Hayter, President and CEO of Empyrean Diagnostics, Inc.,
602-879-6935/
(EMDG) CO: Empyrean Diagnostics, Inc.; Prevent-X, Inc. ST: Arizona, Florida
IN: HEA MTC SU: LIC