LANGHORNE, Pa., Jan. 18, 2005 (PRIMEZONE) -- Hydrogel Design Systems, Inc., a subsidiary of Nesco Industries Inc (OTCBB:NESK), announced today that it is in the process of completing the first order under a supply agreement with Vyteris, Inc. signed on December 27, 2004. The agreement covers the supply of a hydrogel-based product to Vyteris for use as a component of the Lidosite(tm) Topical System. The Food and Drug Administration has approved Vyteris' Lidosite(tm) system as a transdermal delivery system to provide local analgesia for venipuncture and other superficial dermatological procedures.
NESCO President Matthew Harriton stated, "We believe the relationship with Vyteris will provide a significant opportunity for Hydrogel to be part of the growing trend of transdermal delivery of medication."
Vyteris, Inc is a product oriented drug delivery technology company that develops and manufactures enhanced versions of approved therapeutics using state of the art, proprietary iontophoresis (electrotransport) technology. Vyteris seeks to eliminate the inconvenience and discomfort from taking medication by providing products that fundamentally improve the medication experience. See www.vyteris.com
Hydrogel Design Systems develops, manufactures and markets high water content, electron beam cross-linked, aqueous polymer hydrogels used for wound care, medical diagnostics, transdermal drug delivery and cosmetics. HDS gels are produced using unique proprietary manufacturing technologies, which enable HDS to produce gels that can satisfy rigid tolerance specifications with respect to a wide range of physical characteristics while maintaining product integrity. HDS gels are also stable in form and composition, adhere painlessly to the human body and are compatible with active ingredients.
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FORWARD-LOOKING STATEMENTS
All statements other than statements of historical fact included in this release, including without limitation, statements regarding the marketability of the products discussed, financial position and business strategy of NESCO and HDS and plans and objectives of management for future operations, are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", "will", "could", "may", and similar expressions, identify forward- looking statements. Such forward-looking statements are based on the beliefs of, as well as assumptions made by and information currently available to, NESCO's and HDS' management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, competitive factors, pricing pressures, capacity and supply constraints; market acceptance of new products and services; risks associated with the entry into new markets; and delays in product delivery. Such statements reflect management's views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to operations, and results of operations. Readers are cautioned not to place undue reliance on these forward-looking statements. Neither NESCO nor HDS undertakes any obligation to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.