Medical Discoveries Inc. Engages Strategic Advisor to Explore Alternatives
SALT LAKE CITY, March 20, 2007 /PRNewswire-FirstCall/ -- Medical Discoveries, Inc., a development-stage biopharmaceutical company, today said its Board of Directors has engaged the Emmes Group to assist management in evaluating strategic alternatives to enhance shareholder value.
"Following a recommendation by management, our board of directors approved a proposal to hire the Emmes Group to help develop and evaluate various strategic opportunities," said Judy Robinett, president and CEO of Medical Discoveries Inc. "We are considering a wide range of options, including partnerships, mergers, acquisitions, and divesting certain drug development programs. There is, however, no guarantee that Medical Discoveries will pursue any of these alternatives. Medical Discoveries does not plan to make future comments on this process unless there are material developments."
The Emmes Group is a strategy consulting firm supporting clients engaged in the technology and healthcare industries. With offices in Boston and San Francisco, the Emmes Group works in partnership with its clients to build lasting economic value. The firm's managing partners' expertise spans a number of key areas, including: Strategy Consulting, Mergers & Acquisitions, Strategic Marketing, Technology Licensing, Corporate Finance, Market Research & Modeling, and Investor Due Diligence. The firm's website is located at: http://www.emmesgroup.com
About Medical Discoveries
Medical Discoveries, Inc. develops cures for major diseases though its novel oxidative therapy program ("MDI-P"), and in-licensing promising technologies that address some of today's most serious illnesses. The Company was founded on MDI-P, a novel oxidative therapy that is a stable solution rich in highly reactive hydrogen, chlorine and oxygen chain species. MDI-P has demonstrated potential to work directly on pathogens, or as an enhancer to the immune system. The Company's European partner, Eucodis, a biotechnology company located in Austria, is developing Formestane cream, a topical treatment for breast cancer. http://www.medicaldiscoveries.com
Forward Looking Statements
This news release contains forward-looking statements that involve significant risks and uncertainties, including those discussed below and others that can be found in the Company's Form 10 KSB for the year ended December 31, 2005, and in the Company's periodic reports filed with the Securities and Exchange Commission. Medical Discoveries is providing this information as of the date of this news release, and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
CONTACT: Medical Discoveries, Inc., +1-801-582-9583
Web site: www.medicaldiscoveries.com
Ticker Symbol: (NASDAQ-OTCBB:MLSC)
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Posted: March 2007
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