Virogen, Inc. Receives Purchase Orders Totaling $400,000
Virogen, Inc. (PINKSHEETS: VRGI), the developer and patent holder of a revolutionary vaccine to combat Newcastle disease, a deadly disease that kills chickens worldwide, reports that it has received purchase orders totaling $400,000 from its Asian and Middle Eastern distributors. This is truly a milestone for Virogen taking the company from its longstanding R&D phase to become a fully functional commercial enterprise. As anticipated, this purchase order follows shortly after receipt of VRGI's European Union (EU) manufacturing approval and licensing.
Virogen, as previously reported, received a contract calling for minimum revenue of $500,000 per annum. However, with the size of this initial purchase order, the company expects this amount will be quadrupled within the first year. Virogen is continuing to execute its business model as the company continues to penetrate targeted markets worldwide.
Statement by Paul Hogan, CEO
Paul Hogan, CEO of Virogen, Inc. notes that, "Every production bird in the world is required to be vaccinated, and since Virogen's vaccine is breakthrough technology and the most effective Innovo patent-protected product on the market, the company anticipates it will capture this exclusive market for several years. VRGI has prepared for rapid expansion into this worldwide market of approximately 45 billion birds annually (85% of the world market) by establishing a distributor network prior to licensing. With a growth rate of 30% per year and growing, one can anticipate the revenue opportunity for this vaccine is in the tens of millions.
The Company
Virogen is a Minnesota based Corporation formed solely to conduct research, and develop vaccines for the veterinary industry worldwide. The company's flagship product is its Innovo Newcastle Vaccine.
Forward-Looking Statements:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Investors and potential investors are invited to call Paul Hogan, CEO Virogen, Inc. at (415) 367-4058 to request a copy of the company's complete business plan.