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SAN DIEGO, CA, October 06, 2008 /24-7PressRelease/ -- Salugen (http://www.salugen.com), a life sciences company, announces today that it has been acquired by an affiliate of Switzerland-based investment bank, Sherbrooke Equity (http://www.sherbrookeequity.com). The acquiring entity has been renamed Salugen AG and will be based in Zurich, Switzerland.
"We believe that Salugen is the company of our future, as addiction along with other issues run rampant in our communities, both here and abroad. They can help to shed light on the problem and create solutions to these issues in our lives," said Lee Leblanc, Managing Director of Sherbrooke Equity AG. Specific terms of the transaction were not announced but the Company announced that the transaction would be accretive to Salugen shareholders and would address debt holders of the company as well.
Investor Relations Information Contact: Sherbrooke Equity AG, Louis Philippe Antunes, +41-793-030125, [email protected], http://www.sherbrookeequity.com
Company Information Contact: Salugen AG, 877-258-4360, [email protected], http://www.salugen.com
Forward Looking Statements
Certain statements in this press release are forward-looking. These forward-looking statements include references to the use of our laboratory tests and nutritional products. These forward-looking statements are subject to risks and uncertainties and other factors, which may cause actual results to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that physicians may not use the testing or products correctly; risks and uncertainties relating to the performance of our products; the growth in revenues; the size, timing and success or failure of any clinical trials; whether larger confirmatory clinical studies will confirm the results of initial studies; our ability to establish reliable, high-volume operations at commercially reasonable costs; expected reliance on physicians selling our products for a majority of our revenues; the annual renewal of certain customer agreements; actual market acceptance of our products and adoption of our technological approach and products; our estimate of the size of our markets; our estimates of the levels of demand for our products; the impact of competition; whether payers will authorize reimbursement for our products and services and the amount of such reimbursement that may be allowed; whether the FDA or any other agency will decide to further regulate our products or services; whether actions by the FDA, FTC or any other state regulatory body will restrict our ability to commercialize our products; whether we will encounter problems or delays in automating our processes; the ultimate validity and enforceability of our patent applications and patents; the possible infringement of the intellectual property of others; whether licenses to third party technology will be available; whether we are able to build brand loyalty and expand revenues; and whether we will be able to raise sufficient capital in the future, if required. We do not undertake, and specifically disclaim any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Salugen is a life sciences company offering nutritional ingredients and gene testing to help reduce excessive cravings involved in smoking, weight problems, and alcohol and drug abuse. Salugen has a patent-protected, clinically proven nutritional formulation to reduce stress and cravings, as well as patent-protected gene tests to help identify these persons and customize their treatment. Simply, Salugen's goal is to reduce or eliminate the illness, costs, and deaths associated with these preventable disorders. The company has headquarters in San Diego, CA. For additional information about the company, please visit http://www.salugen.com.
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