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Integrated Pharmaceuticals, Inc. Signs
Supply Agreement with FragChem Corporation
FITCHBURG,
Mass., March 1 /PRNewswire-FirstCall/ -- Integrated Pharmaceuticals,
Inc. (OTC.PK: INTP) announced today it has signed an agreement
with FragChem Corporation of Niles, Illinois to supply FragChem
with all of its requirements of gluconate products for sales
to its customers in five Midwestern states. The five-year
supply agreement effective May 1, 2005, if fulfilled according
to its terms, could represent sales up to $30 million. Integrated
Pharmaceuticals recently commenced production at its facility
in Fitchburg, Massachusetts. The facility was specially designed
and equipped for the production of gluconate products. FragChem
is a sales organization with 14 years of experience in the
sale of clinically active compounds. "We are pleased
to have formed a relationship with an experienced distributor
such as FragChem," said Chinmay Chatterjee, CEO of Integrated
Pharmaceuticals. Kishore Kamdar, the President of FragChem,
said, "The addition of Integrated Pharmaceuticals products
to our portfolio will greatly enhance our ability to sell
to pharmaceutical companies and others. We're proud of our
relationship with this excellent company."
About the Company
IntePharm
is an emerging producer of pharmaceuticals, specialty compounds
and chemicals for the pharmaceutical, neutraceutical and food
industries. In
addition to making products, IntePharm discovers and develops
more efficient and cost-effective manufacturing processes.
These processes are developed using a comprehensive technology
platform that combines metabolic engineering, cellular genetics,
advanced bioprocess engineering, and computer simulation
science.
For further information please contact Dr.
Chinmay Chatterjee, Integrated Pharmaceuticals, Inc. (IntePharm),
at (978) 696-0020, http://www.intepharm.com.
Forward-Looking Statements
Certain statements contained in this press
release that are not historical facts constitute "Forward-Looking
Statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements,
in general, predict, indicate or imply future results, performance
or achievements and generally use words so indicative. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual
results or performance of the Company and its business to
be materially different from that expressed or implied by
such forward-looking statements. Included in those factors
are the following: our dependence on a limited number of potential
customers; limited managerial experience of our executives;
possible needs for additional capital; possible delays in
product development and delivery schedules; deferred or lost
sales because of the complex sales process prevalent in the
industries that we seek to serve; increased competitive pressure;
and rapid technological changes. Forward-looking statements
by their very nature are uncertain. There can be no guarantee
that any forward-looking statement will be fulfilled. The
Company assumes no obligation to update forward-looking statements
to reflect actual results or changes in or additions to the
factors affecting such
forward-looking statements.
SOURCE Integrated Pharmaceuticals, Inc.
Web Site: http://www.intepharm.com
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