Bio-Enhancement Systems Corporation (“BESCORP”) today announced the successful completion of a Distribution Agreement with V.M.D. n.v./s.a., (“V.M.D.”) headquartered in Arendonk, Belgium. V.M.D. is a Belgian pharmaceutical company founded in 1973, which is registered with the Belgian Ministry of Public Health. V.M.D. is one of the leading veterinary companies in the Benelux market with operations in the production and distribution of veterinary medicines, feed additives and veterinary surgical instruments. V.M.D.’s more than 50 pharmaceutical products for use in livestock are produced according to good manufacturing practices (GMP) and are available in over 70 countries.
Under the terms of the Distribution Agreement with BESCORP, V.M.D. will serve as the exclusive distributor of BESCORP’s Animal Behavior Modifier (ABM)® product in the territories of Belgium, the Netherlands and Luxembourg (the Benelux countries). The Distribution Agreement has a term of five years, with provisions allowing for renewal of the Agreement. The ABM® is a device engineered to naturally enhance the weight gain of beef cattle and the milk production of dairy cattle without the use of steroids or growth hormones. V.M.D. will distribute the ABM® through its sales and marketing organizations established in the Benelux countries and by collaborating, as necessary, with BESCORP’s European Sales and Marketing group located in Chiasso, Switzerland.
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Dr. Stuart Fielding, CEO of BESCORP stated, “V.M.D. has recognized the importance of offering its customers the necessary products to increase the efficiency of food production naturally, without the use of chemicals.” Dr. Fielding also stated, “We expect the ABM to become a valuable addition to V.M.D.’s high-quality product line. This collaboration with V.M.D. provides BESCORP with a powerful marketing partner for the distribution of the ABM within the Benelux AgriVet marketplace.”
BESCORP’s ABM product was launched in Europe in February of 2000. The completion of this Distribution Agreement with V.M.D. for the Benelux countries follows the recent completion of a similar Distribution Agreement between BESCORP and Labiana Life Sciences, S.A., covering the territories of Spain and Portugal.
In a separate announcement, BESCORP today stated that it recently closed on the placement of $2.0 million of its common stock. These funds were raised by completing two transactions with two unrelated investor groups. One group invested $500 thousand, with the second investing $1.5 million for BESCORP equity.
These funds will primarily be used to enhance the Company’s manufacturing capacity as it experiences increasing customer demand for its ABM product. Funds will also be used to support BESCORP’s general business activities including marketing.
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By GlobalDataBESCORP was founded to commercialize products based on a core proprietary technology that enables the company to naturally stimulate the biological system of beef and dairy cattle in order to increase the production of beef and milk without the use of drug and chemical enhancement techniques. The technology developed by the company is based on a well-established scientific principle that the application of mild, non-painful pressure to the tail of an animal will result in enhanced eating and other motivated behaviors leading to increased efficiencies in food animal products as well as generally improving the health and welfare of food producing animals. BESCORP has developed its Animal Behavior Modifier (ABM)® device based on this technology and launched this product within the European community in February 2000. BESCORP holds patents on this technology in all the major food producing nations in the world.
Additionally, the ABM has been demonstrated that the ABM® yields beneficial results when used in a veterinary capacity on animals that are sick or experiencing a transition period. The ABM® may be utilized to enhance the nutritional status of sick animals due to its demonstrated effect of increasing eating behavior. Improving and maintaining the general welfare of animals presents an important marketing opportunity for BESCORP due to the substantial cost savings associated with hastening the return of sick animals to a healthy condition.
Statements in this press release regarding our business which are not historical facts are “forward-looking statements” that involve risks and uncertainties which could cause the Company’s actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties relating to the need for additional funds and corporate partners, product liability, dependence on third parties for manufacturing and marketing, the early stage of products being marketed or under development, patent risk and competition.
Additional information regarding BESCORP may be found on the company’s web site: http://www.bio-enhancement.com.
