BASKING RIDGE, N.J., March 24, 2009 (GLOBE NEWSWIRE) -- Millennium Biotechnologies, Inc. a wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (OTCBB: MBTG), a leader in the development, manufacturing and sales of targeted nutritional products in the Clinical and Sports Nutrition Markets, announced today that it has received a $705,000 Purchase Order from Provider Services, Inc. The Purchase Order exclusively requests the delivery of Millennium's two new Ready-to-Drink product lines Resurgex Essential(tm) and Resurgex Essential Plus(tm). Millennium will add a new flavor of Resurgex Essential Plus "Chocolate Truffle," as requested by the customer, in the upcoming production run at Farmland Dairies.
"We made the transition to Resurgex Essential(tm) and Resurgex Essential Plus(tm) in order to better meet the critical nutritional needs of our most important geriatric residents living in our Provider Services community of over 50 facilities and 5,000 beds. Resurgex Essential(tm) and Resurgex Essential Plus(tm) provide superior ingredients and unique flavor choices as compared to the competition. These qualities contributed to our decision to make the Resurgex Essential(tm) product line our nutritional supplementation of choice as opposed to the competitive products Boost(r), Ensure(r), or other brands. Naturally our residents will be more compliant in their nutritional regimens because they enjoy the taste. The increased compliance and enhanced nutritional value should result in better outcomes in residents as evidenced by improved weight maintenance, immune support and management of their medical care while reducing the total cost of care", said Pam Mink, RDLD, Nutrition/Dietary Consultant for Provider Services, Inc.
"Our transition from a Company which exclusively offered powder-based products, to a Company which offers ready-to-drink products allowed us to access the medical institutional long-term care channel. The ready-to-drink products have been well received by distributors both domestically and internationally. Since our first commercialized ready-to-drink products went into distribution in the fourth quarter of 2008 we have received orders for over $1.0MM of ready to drink product in the first quarter of 2009," said, Mark C. Mirken CEO and Chairman of the Board.
Mark C. Mirken added, "This success and the overall acceptance and recognized efficacy of our product now allows us to expand this nutritional product line. We will now expand the line to diabetic residents, a significantly large and growing percentage of the elderly population. As our volume increases by expanding our customer base, we anticipate we will be able to reduce our manufacturing costs. As a result, we anticipate we will be able to compete on a retail platform with reduced prices and attract a broader audience."
About Millennium
Millennium's six marketed products form an advanced line of nutritional formulas. Resurgex Select(r) is a whole foods-based, calorically dense, high-protein nutritional formula developed for cancer patients undergoing chemotherapy or radiation treatments. Resurgex(r) and Resurgex Plus(r) are specialized, anabolic nutritional supplements rich in antioxidants that provide nutritional support post-treatment. Millennium also created Surgex(tm) sports nutrition formula to address the nutritional concerns of professional, Olympic, and amateur elite athletes. These athletes often experience similar symptoms post-workout to those battling immuno-compromised conditions, such as fatigue, loss of lean muscle, oxidative stress, and reduced immune function. Resurgex Essential(tm) and Resurgex Essential Plus(tm) are comprehensive, calorically dense formulas that meet and succeed the nutritional requirements of the assisted living community.
Statements in this news release regarding future financial and operating results, future growth in R&D programs, potential applications of the Millennium's technology, opportunities for the Millennium, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words 'will,' 'believes,' 'plans,' 'anticipates,' 'expects,' 'estimates,' and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward- looking statements including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of Millennium's intellectual property, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in Millennium's periodic reports, including Forms 10-KSB, 10-QSB, 8-K, and other forms filed with the Securities and Exchange Commission ('SEC'). Millennium Biotechnologies, Inc.