JACKSONVILLE, Fla., June 26, 2006 (PRIMEZONE) -- Phlo Corporation (Pinksheets:PHLC) ("Phlo") announced today that one of its affiliates (the "Company") has organized two business units to pursue the application of certain of its technology base to cosmeceuticals and animal health and is currently evaluating joint venture proposals pertaining to such fields. More specifically, the initial focus of the cosmeceutical unit will be sunscreens, sports creams and anti-aging facial products. The animal health unit plans to develop and promote animal electrolyte products, pest control products and nano-particle delivery systems for vaccines.
The animal health chemicals annual market is forecasted to be over $8 billion in 2006, with vaccines and diagnostic chemicals expected to be the fastest-growing product segments.
Anti-aging facial products are part of the U.S. "prestige beauty" industry which represents an annual market of $8 billion. One in every three dollars spent in the prestige skincare market is spent on anti-aging face products. The sunscreen and sports cream markets are approximately $273 million and $400 million annual markets, respectively.
In addition to commercialization and production experience (particularly with regard to technological preparations), the professional expertise represented by such business units of the Company includes some of the top liposomal and drug delivery-system experience available in the United States and beyond. Certain of this expertise sources back to The Liposome Company, a leader in the design and development of novel liposome and other drug delivery systems for the treatment of disease in animals and humans, including encapsulated anti-microbial agents.
The Company will announce material developments in these areas as they occur.
Phlo is a biotechnology company and a manufacturer and marketer of products (primarily liquids) containing patented and patent-pending biotechnologies which are sold on a commercial basis to governmental and institutional purchasers and to high volume chain stores, such as supermarkets and drug and convenience stores. Phlo is focusing its technology generation and acquisition efforts on those technologies related to enhancing cognition and personal performance, reducing the effects of aging, and preventing or ameliorating cancer.
Certain statements made herein that are not historical constitute "forward-looking" statements within the meaning of the Private Litigation Reform Act of 1995 and may contain words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify such forward-looking statements. Such statements are based on a number of assumptions and on information and estimates supplied to Phlo Corporation by sources currently available to it. Such assumptions and estimates are subject to uncertainties, contingencies, and other factors, many of which are beyond Phlo Corporation's control. Actual results may differ materially from the statements set forth above.