InoLife Technologies, Inc. Enters Strategic Joint Venture with Gulf Coast Pharmaceuticals
InoLife Technologies, Inc. Enters Strategic Joint Venture with Gulf Coast Pharmaceuticals
Agreement Provides National Distribution of DNA-Based Product
May 23, 2011 (GlobeNewswire) --
RALEIGH, N.C. and OCEAN SPRINGS, Miss., May 23, 2011 (GLOBE NEWSWIRE) -- InoLife Technologies, Inc. (OTCBB:INOL), a service based healthcare products development, integration and marketing company, has announced a strategic joint venture with Gulf Coast Pharmaceuticals, Inc. for distribution and sales of its DNA-based products. Gulf Coast is a pharmaceutical supply company specializing in the nationwide distribution of pharmaceuticals and medical supplies to the healthcare industry.
"Our agreement with Gulf Coast Pharmaceuticals provides InoLife Technologies, Inc. with a vital sales channel and vast product outreach to our key customers, including consumers, hospitals, general practitioners and cardiologists," said Gary Berthold, President, CEO of InoLife Technologies, Inc. "Gulf Coast will provide our company with a large-scale distribution warehouse and a North American-wide sales force, allowing us to accelerate market penetration of our DNA-based product line."
Gulf Coast's primary product sales and distribution focus will be InoLife Technologies, Inc.'s Genetic Predisposition Test. This unique product is designed to recognize an individual's DNA and identify key markers that, if present, may cause a person to develop serious diseases prematurely. DNA testing reveals genetic predispositions for 25 diseases and conditions in five major categories. Gulf Coast will also distribute InoLife Technologies, Inc.'s Cytochrome CYP2C19drug metabolism analysis; a test that determines if a patient has a genetic variation that may reduce the effectiveness of Plavix. If that patient has the genetic variation, the risk of having a stroke, heart attack or other serious cardiac event is higher.
"We are extremely proud to have been selected by InoLife as its strategic venture partner," said Ken Ritchey, President and CEO of Gulf Coast. "We are in a unique position because we have an existing sales force and nationwide pharmaceutical and medical supply distribution network that parallels Inolife Technologies, Inc.'s core target markets, especially since their DNA-based products must be prescribed and interpreted by a physician."
About InoLife Technologies, Inc.
InoLife Technologies, Inc. is organized to develop and market DNA Testing products within the US. The Company's mission is to aggressively identify, develop and deliver innovative and affordable healthcare products and services directly to the marketplace. By targeting cutting-edge DNA-based testing and reporting methodologies, the company is able to significantly benefit the health and wellness needs of both individuals and their healthcare providers.
InoLife Technologies, Inc. markets a range of products that will be sold directly to consumers through e-commerce, direct sales, pharmacies, retailers, distributors and healthcare providers. It also offers products that are sold only to physicians, hospitals, outpatient facilities and others in the medical community for use with their patients.
About Gulf Coast Pharmaceuticals, Inc.
Gulf Coast Pharmaceuticals is a full line pharmaceutical supply company that specializes in the nationwide distribution of pharmaceuticals and medical supplies to the healthcare industry. Based in Ocean Springs, Mississippi, we currently distribute pharmaceuticals to hospitals, physician's offices, and other wholesalers both domestic and international.
Forward-Looking Statements
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
CONTACT: INVESTOR RELATIONS:
BUZZBAHN, LLC
Steve Reiss
516-570-3850
inol@buzzbahnllc.com
www.buzzbahnllc.com
INOLIFE TECHNOLOGIES, INC.
Rhonda Lipschutz
RLipschutz@InoLifeTech.com
www.InoLifeTech.com
Source: Globe Newswire (May 23, 2011 - 3:02 PM EDT)
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