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Phoenix Scientific, Inc. Announces
Investment in CritiTech, Inc.
September 30, 2004
FOR IMMEDIATE RELEASE
St. Joseph, Missouri-Phoenix Scientific, Inc.
announced today that it has made a significant financial investment
in CritiTech Inc., Lawrence, Kansas. CritiTech provides drug
delivery and development technology for the pharmaceutical
industry. CritiTech produces fine particle pharmaceuticals
including nanoparticle pharmaceuticals using patented technologies
developed at the University of Kansas. The processes use compressed
carbon dioxide as the processing medium to produce relatively
residue-free and uniform drug microparticles and coatings.
Sam Campbell, President of CritiTech stated, “We are
extremely pleased to have the support of such an outstanding
company as Phoenix Scientific and its impressive management
team. Through this relationship we believe Phoenix Scientific
will enhance its position as the leading developer of veterinary
therapeutics. We are looking forward to a long and mutually
beneficial relationship.”
Phoenix Scientific, located in St. Joseph,
Missouri, is the United States’ largest manufacturer
of veterinary pharmaceutical formulations and the leader in
differentiated generic animal health pharmaceutical products.
Phoenix Scientific will have the exclusive first right of
refusal for any drug technology with applications in the veterinary
pharmaceutical industry developed by CritiTech. Kevin Schinze,
President and CEO of Phoenix stated “The investment
in CritiTech provides Phoenix with another foundation for
improving formulations and enabling with delivery of poorly
soluble compounds. CritiTech is on the cutting edge of some
very promising technology and we hope to bring these processes
to veterinary medicine.”
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