"This is an important event, because it demonstrates that we are successfully executing our new corporate strategy, part of which is to drive sales through our established marketing channels overseas."
Dr. Hun-Chi Lin, President and Chief Scientist, Grant Life Sciences
Grant Life Sciences Inc. (OTC BB: GLIF) announced today that it has received a purchase order from an arm of the Indian government for two million of its point-of-care (POC), 'rapid' malaria tests, to be delivered by year-end. Grant intends to ship approximately 25 percent of the total order immediately. These malaria tests are part of the 'AccuDx' rapid-test product line to which Grant holds exclusive rights from AccuDx Corp.--a biotechnology company founded by Ravi Pottathil, Ph.D., one of the world's leading authorities in the field of HIV/AIDS diagnostics and therapeutics. The AccuDx portfolio includes additional rapid tests for HIV-1, HIV-2, for example, and Dengue Fever.
"When we acquired exclusive rights to the AccuDx rapid-test portfolio, we said that we expected to generate revenues from these products in specialty diagnostic markets outside of the United States," said Dr. Hun-Chi Lin, President and Chief Scientist, Grant Life Sciences. "Certainly, this sizable order from India bears strong testimony to the opportunities ahead of us. Indeed, this order demonstrates that we are making considerable progress toward executing our new corporate strategy: (1) to acquire new products and technologies via in-licensing activities; (2) out-license products for further development and sales; and (3) drive sales through our established marketing channels--as is the case with this significant order from India," said Dr. Lin.
About Grant Life Sciences, Inc.
Grant Life Sciences, a development stage company, engages in the research, development, marketing, and sale of diagnostic kits for the screening, monitoring, and diagnosis of diseases with emphasis on women's health, infectious diseases, and cancers.
Forward-Looking Safe Harbor Statement
With the exception of historical information, the matters discussed in this press release are "forward-looking statements" that involve a number of risks and uncertainties. The actual future results of Grant Life Sciences could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities, results of clinical trials, and market acceptance of the Company's products. In some cases, "forward-looking statements" can be identified by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," or other comparable terminology. Although Grant Life Sciences believes that the expectations reflected in the "forward-looking" statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such "forward-looking statements" will be achieved. Grant Life Sciences undertakes no duty to update any of the "forward-looking statements," whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such "forward-looking statements." For further risk factors associated with our Company, review our SEC filings.