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San Leandro, CA, December 9, 2002
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Sepragen Corporation (OTC BB: SPGNA),
a provider of patented technology and equipment for purification needs in the
biotech and nutraceutical industries, announced today that for the first nine
months of 2002 revenues increased by $688,000 (or 128%) and losses decreased by
$397,000 (or 37%) compared with the
same period in 2001.
Said Vinit Saxena, Sepragen’s President, of the state of the industry, “The
biotech industry faces a critical shortage of both development and manufacturing
capacity.” Stressing Sepragen’s
competitive advantages and positioning in the market place, Mr. Saxena
continued, “Sepragen’s products such as the QuantaSep and Radial Flow
Columns provide high productivity in a small footprint.
Our customers are discovering that Sepragen products can provide the
value of leveraging their existing facilities to scale-up processes quickly to
improve time to market and enhance productivity in manufacturing.”
Mr. Saxena stated, “Increased marketing and sales efforts are needed to
convey Sepragen’s message with more impact.
The results of the last quarter indicate a measure of success in our
initial effort and focus.”
Sepragen is a leading supplier of separation process technology, equipment and
consumables to the biotechnology industry.
In addition to its biotech drug separation business, the Company has
developed patented applications that provide large market opportunities in the
food and beverage industry, including debittering citrus juices, extracting
isoflavone (plant estrogen) from soy as well as extracting proteins from whey.
The Company holds over 14 issued patents relating to its core technology.
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The statements in this release that relate to future events or
performance, statements about growth, future regulatory clearances, levels of sales and
market size and future manufacturing capacity and efficiencies are forward-looking
statements that involve risks and uncertainties, including risks associated with
uncertainties related to the development of markets for and commercial acceptance of the
company's products and services, the availability of components, competitors' product
introductions and other risks identified in the company's SEC filings. Actual results may
differ from those described in these forward-looking statements. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only as of the
date hereof.
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