Interleukin Genetics Announces Strategic Divestment of Alan James Group
02 Julho 2009 - 8:00AM
PR Newswire (US)
WALTHAM, Mass., July 2 /PRNewswire-FirstCall/ -- Interleukin
Genetics, Inc. (NYSE Amex: ILI) announced today that on June 30,
2009 it executed an agreement to sell the Alan James Group assets
of its subsidiary AJG Brands, Inc. to Pep Products, Inc., a
subsidiary of Nutraceutical Corporation, for approximately $4.6
million in cash. The transaction was completed following the close
of business on June 30th. "While the Alan James Group business saw
an increase in sales during the last fiscal year and we were able
to introduce two new products to the market in the past seven
months, this transaction allows us to focus our efforts on growing
our core genetic testing business. The sale of AJG provides
non-dilutive cash to continue development and promotion of our
genetic testing services and products including our new brand of
Inherent Health tests," said Lewis H. Bender, CEO, Interleukin
Genetics. About Interleukin Genetics Interleukin Genetics, Inc.
(NYSE Amex: ILI) develops and markets genetic tests, including its
new brand of Inherent Health genetic test products that empower
consumers to maintain health and wellness, and assists
pharmaceutical companies in the development and marketing of
targeted therapeutics. The Company leverages its research,
intellectual property, and biomarker development experience to
facilitate the emerging personalized health market. Interleukin
Genetics is headquartered in Waltham, MA. For more information
please visit http://www.ilgenetics.com/. Certain statements
contained herein are "forward-looking" statements including
statements regarding the Company's ability to develop genetic tests
that identify genetic variations that affect risk of heart disease,
periodontal disease and osteoporosis, nutritional needs and optimal
weight-loss methods, to identify nutritional and lifestyle
decisions that favorably affect such conditions, to provide such
information in a format tailored to the individual, and to
otherwise make progress in advancing the Company's core
technologies. Because such statements include risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements include,
but are not limited to, the risk of market acceptance of the
Company's products, the risk of technology and product
obsolescence, delays in product development, the performance of
commercial partners, the availability of adequate capital, the
actions of competitors and other competitive risks, and those other
risks and uncertainties described in the Company's annual report on
Form 10-K and other filings with the Securities and Exchange
Commission. The Company disclaims any obligation or intention to
update these forward-looking statements. DATASOURCE: Interleukin
Genetics, Inc. CONTACT: Investor Relations: Stephanie Ascher of
Stern Investor Relations, +1-212-362-1200, Web Site:
http://www.ilgenetics.com/
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