CTD Holdings, Inc. Names President of Newly Formed Subsidiary
HIGH SPRINGS, FL, Feb 17, 2010 (MARKETWIRE via COMTEX) -- CTD Holdings, Inc. /quotes/comstock/11k!ctdh (CTDH 0.07, -0.01, -7.14%) (FRANKFURT: CDJ) announces the installation of Dr. Jeffrey Tate as the President/COO of NanoSonic Products, Inc. ("NSP"), a new, wholly owned subsidiary.
Dr. Tate, former President of J. Jireh Products, LLC, has begun planning for the company's acquisition of a new Pulse Dryer system to be installed at CTD's 40 acre facility in High Springs, Florida. "Dr. Tate has 18 years of experience with the development of products surrounding the utilization of Pulse Drying technologies," stated CEO and Chairman C.E. Strattan. "This Pulse Dryer will allow the company, for the first time, to control the formulation and production of cyclodextrin complexes. Our intent is to have the necessary cGMP manufacturing credentials to formulate complexes for the pharmaceutical and food industries," Dr. Tate explained, "Our increasing involvement in the development of pharmaceutical answers to viral and cholesterol related illnesses makes this investment by the company not only necessary but essential to our ability to provide existing and improved complexes to the research community."
"Jeff Tate brings together a unique set of skills and experience that include achieving and maintaining 100% compliance with Federal FDA regulatory requirements for API's," stated Mr. C.E. Strattan. "With Jeff hitting on all eight cylinders, it is our goal to have a Pulse Dryer producing c-GMP dry API's by year's end," Mr. Strattan finished.
NSP was established to increase the company's exposure to the cyclodextrin complex market. The company intends to manufacture proprietary complexes and develop products for third parties. The ability to manufacture and test proprietary complexes will allow NSP to enter into strategic relationships with a broad spectrum of companies in the pharmaceutical, biotech, alternative energy, chemical and food industries.
Dr. Tate remarked, "There is exciting potential for improving bioavailability and therapeutic efficacy of API's enhanced using NSP's proprietary molecular encapsulation technology. Our current capital project will make pharmaceutical grade materials rapidly available in kilogram to metric ton quantities."
Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CTDH or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.