Company Profile for Enterologics, Inc.

--(BUSINESS WIRE)-- Enterologics, Inc. (OTCBB:ELGO) is a biotechnology company developing probiotics as biologic drugs for specific gastrointestinal disease indications. Probiotics are live microorganisms, in most cases, bacteria, that are similar to or derived from beneficial microorganisms that are found in the human gut (e.g. for more information see Introduction to Probiotics). They are also called "friendly bacteria" or "good bacteria."

Despite growing evidence that probiotics have medicinal benefits, no product has been sufficiently tested and none have gained FDA approval. This has created an unfulfilled need which Enterologics seeks to fill while becoming the leader in the introduction of new and approved probiotic medical therapies.

On June 20, 2010 the company announced that it is acquiring all the shares of The BioBalance Corporation and its subsidiary BioBalance LLC from New York Health Care, Inc. With this purchase Enterologics is acquiring E. coli M17, or Probactrix®, a probiotic product being developed as a biologic drug under an active Investigational New Drug (IND) application for a pouchitis-related indication. The acquisition also includes BioBalance’s portfolio of intellectual property and regulatory filings. The transaction is scheduled to close no later than September 30, 2011.

Planned formal development of the E. coli M17 including cGMP production, manufacturing and testing will begin shortly after closing and after financing is in place.

Forward-Looking Statements

The forward-looking statements in this Corporate Profile are based upon various assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Actual results could differ materially from those discussed in the forward-looking statements. Reference is made to our filings with the SEC.

Company:

    Enterologics, Inc.
 

Headquarters Address:

1264 University Avenue West, Suite 404
St. Paul, MN 55104
 

Main Telephone:

516-303-8181

 

Website:

www.enterologics.com

 

Ticker:

ELGO(OTCBB)

 

Type of Organization:

Public
 

Industry:

Biotechnology
 

Key Executives:

President: Robert Hoerr

 

Investor Relations

Contact:

Beth Seidman

Phone:

516-303-8181

Email:

[email protected]



KEYWORDS:   United States  North America  Minnesota

INDUSTRY KEYWORDS:   Health  Biotechnology  Infectious Diseases  Pharmaceutical

MEDIA:

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