West Caldwell, NJ and Toronto, Canada, May 02, 2016 (GLOBE NEWSWIRE) -- West Caldwell, NJ and Toronto, May 2, 2016 (GlobeNewswire/-) EastGate Biotech Corp. (PinkSheets: ETBI), an emerging pharmaceutical company aimed at utilizing drug delivery innovations in the development of improved novel formulations and alternative dosage forms of existing biologically active molecules has announced that it has received a large order for Glucora, its natural glucose management product.
The total order was for 15,000 bottles of 60 tablets/bottle for a total of over $270,000.00 USD. The order was placed by Proactive Supply Chain Solutions Inc. (www.proactivegroup.ca) who also serves as a GMP fulfillment services center of varying industrial and commercial products. Proactive anticipates that it will have revolving purchase orders for Glucora.
“We have been very impressed by this innovative product”, says Sam Mancuso, CEO of Proactive. “We believe that Glucora has the opportunity to become an important player in glocose management market”. “I am most grateful to the EastGate team who provided technical support, training and marketing directions to support our ongoing relationship”.
Glucora is a soft capsule product that provides support for healthy glucose metabolism. Glucora contains natural ingredients in a highly efficient self-nanoemulsifying capsulation. Additional information on the product can be found at www.nano-essentials.com.
“We are pleased that we have received our first material order for Glucora” says Anna Gluskin, EastGate Biotech’s CEO. “We believe that Glucora is a product with mass market appeal and will play a key role in the company’s diabetes franchise”.
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions for "safe harbour" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release.
The words "anticipates", "plans", "expects", "indicate", "intend", "scheduled", "estimates", "forecasts", "focus", "guidance", "initiative", "model", "methodology", "outlook", "potential", "projected", "pursue", "strategy", "study", "targets", or "believes", or variations of or similar such words and phrases or statements that certain actions, events or results "may", "could", "would", or "should", "might", or "way forward", "will be taken", "will occur" or "will be achieved" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. The risks, estimates, models and assumptions contained or incorporated by reference in this release, include those identified from time to time in the reports filed by EastGate with the SEC, which should be considered together with any forward-looking statement. EastGate undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.