EDMONTON, ALBERTA--(Marketwire - March 26, 2008) - CV Technologies Inc. (TSX:CVQ) - CV Technologies' recent financial and operational performance sets the stage for successful long-term growth through product line and geographic diversification, said President, CEO and Chief Scientific Officer Dr. Jacqueline Shan, speaking today to the Company's Annual General Meeting of shareholders at the Alberta Research Council in Edmonton.
"Our road map is predicated on our belief that CV Technologies will continue as a leader in our product category in Canada, and that we will extend the COLD-fX® line and introduce other new products," Dr. Shan said. She observed that "Canada will remain our engine, serving as a showcase for our products and generating the financial and other resources that we expect will ultimately permit us to thrive in the global market".
"Our initial investment of money and time in establishing U.S. relationships continues to demonstrate benefits. We have maintained favorable profiles with respected U.S. opinion leaders in the scientific, regulatory, medical and journalistic communities. And we are confident their goodwill will translate into support for future efforts, when the time is right," she said.
"Recently, the U.S. Food and Drug Administration approved the first botanical drug product. We are exploring the possibility of obtaining U.S. botanical drug registration for COLD-fX, which would allow us to make therapeutic claims," Dr. Shan remarked. "In addition, we are in early stage discussions with potential strategic partners about the prospects for developing new products and extensions to our existing lines for global distribution. We are also exploring licensing our intellectual property for use in industries like functional foods and animal supplements."
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