BASEL, Switzerland, Jan. 18 /CNW Telbec/ - Neuro-Biotech Corp.
(PINKSHEET: MRES) (OTCQB: MRES) announces that it has concluded a
Business Development Agreement with Credo-TM, a Russian company. The
Agreement provides for an exclusive right to distribute all
Neuro-Biotech proprietary blood analysis kits and NeuroCeuticals™ in
territories such as Russia, Belarus, Ukraine and Kazakhstan.
Furthermore this agreement binds Credo-TM to a minimum yearly order of
500,000 test units for a term of 10 years. Both parties have agreed on
an initial price of $55.00 USD per unit for its initial launch. The
pricing for subsequent years may be subject to change.
Over the next three month, Credo-TM will be selecting the laboratories
mandated to undertake the tests analysis. Neuro-Biotech will be
overseeing the technician training program for protocol analysis
Credo-TM, a private entity, was created by a group of professors and
doctors from one of Russia's oldest and largest human physiological
health laboratory. The company is based in the Techno Park area of
Kazan City in the Russian Federation. Over the past several years
Credo-TM has developed, with the help of government grants, a solid
distribution network of advanced and modern medical products in
countries such as Russia, Belarus, Ukraine and Kazakhstan. Close to
1200 medical centers and hospitals are using the services of Credo-TM
today. The Company's initial effort was the distribution of diagnostic
tests for diabetes, pregnancy as well as tuberculosis (early stage).
Over the past 3 years, more than 300 employees have joined Credo-TM.
FORWARD LOOKING STATEMENTS
This release contains statements that are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Act of 1995.
Certain statements in this press release may contain words such as
"anticipates," "believes," "could," "expects," "intends," "may,"
"projects," "targets" and other similar language that is considered
forward-looking statements. These forward-looking statements are
subject to certain risks and uncertainties and persons reading this
release are cautioned that such statements are only predictions, and
that the Company's actual future results or performance may be
materially different. The Company disclaims any intention or obligation
to update or revise forward-looking information, whether as a result of
new information, future events, or otherwise, could cause the company's
actual results to differ materially from those indicated in any
SOURCE Neuro-Biotech Corp.
For further information:
Dr. Claude Poulin
41 61 500 05 16