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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." Contact: |
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