ALDA Enters Into Joint Venture with Seavan
Vancouver, BC - ALDA Pharmaceuticals Corp. (APH:TSX-V) (the “Company” or “ALDA”) announces that a joint venture agreement has been established with Seavan Health & Beauty Partnership (“Seavan”). Under the terms of the agreement, Seavan will manufacture ALDA’s products and ALDA’s personnel will undertake the marketing and sales of Seavan’s products and services in addition to those of ALDA. The acquisition of substantially all of the assets and undertakings of Seavan by ALDA is still in progress.
Dr. Terrance Owen, President & CEO states, “During our discussions with Seavan, it became clear that it would be beneficial for us to work together now because the two companies are very complimentary and can benefit from each other’s strengths. This joint venture will allow us to combine our resources, fine-tune our delivery of both ALDA’s and Seavan’s products and services and grow both businesses as we work on the acquisition. The ultimate goals are for ALDA to manufacture as well as distribute T36® products, acquire expertise in R&D, quality assurance and regulatory matters and re-focus on the therapeutic applications of the T36® technology”.
About Seavan Health & Beauty Partnership (www.seavanlabs.com)
Seavan, located in Vancouver, manufactures pharmaceutical, nutritional and personal care products under licenses from Health Canada and the FDA. Examples of products manufactured at Seavan include glucosamine and magnesium supplements, sun screens, topical delivery systems, pain relievers, body washes, hair care products and ALDA’s T36® products.
