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March
1, 2000
Company
Press Release
Galileo Laboratories
and Procter & Gamble Sign Agreement
Iams &
Galileo Form Research and Development Alliance
Santa
Clara, CA, & Dayton, OH, March 1, 2000 - Galileo Laboratories,
Inc. [www.GalileoLabs.com] and the Iams Company [www.Iams.com],
a Procter & Gamble (P&G) subsidiary, announced today that
they have entered into a strategic alliance to build a new generation
of companion animal nutrition products. Iams, a world's leader and
innovator in companion animal nutritionals, and Galileo, a biotechnology
company focused on energy metabolism, are joining forces to develop
a suite of products focused on meeting the specific needs of companion
animals based on lifestyle and age.
"The
Iams Company was founded on a basic value - to enhance the well-being
of companion animals by providing world-class quality foods,"
said Dr. Diane Hirakawa, Senior Vice President of Research and Development
at Iams. "To achieve this goal, the Iams Company invests considerable
capital in the research and development of beneficial companion
animal nutrition products. Galileo Laboratories further enables
Iams to implement its core mission of employing innovative technologies
to build superior companion animal nutritionals," further stated
Dr. Hirakawa.
Galileo
Laboratories is focused on identifying functional food ingredients,
complementary medicines and pharmaceuticals that enhance function
during conditions of oxidative and metabolic stress. As oxidative
and metabolic stress has been implicated in aging, performance and
disease, Galileo is developing an array of products that address
these conditions in humans, companion and farm animals.
The
two companies will leverage Iams' franchise in the premium companion
animal marketplace and Galileo's discovery expertise to develop
state-of-the-art products that enhance the health and quality of
life of companion animals.
"The
partnership with Iams was logical," stated Dr. Guy Miller,
CEO, Galileo Laboratories, Inc. “Iams is a global leader in
the premium companion animal food marketplace, they possess enhanced
marketing and distrubution capabilities and are a respected innovator
in developing nutritionals for companion animals. Galileo embraces
the same core value as the Iams Company - improving the quality
of life through innovation," further stated Dr. Miller.
About Iams
Iams
is a leader in the premium segment of the global companion animal
food market. This segment, reportedly the fastest-growing sector,
represents 10 percent of the estimated $25 billion global market.
Financial terms of the agreement between Iams and Galileo were not
disclosed.
The
Iams Company, which was purchased by P&G in 1999, has enhanced
the health and well-being of dogs and cats by providing world-class
quality foods for more than 50 years. As a global leader in science-based
companion animal nutrition, the company's Eukanuba and Iams brands
of dog and cat food are sold in 77 countries.
About Galileo
Laboratories
Galileo
Laboratories, Inc. is a biotechnology company involved in the discovery
and development of compounds associated with the prevention and
treatment of diseases caused by oxidative and metabolic stress.
The Company develops these compounds as functional food ingredients,
complementary medicines, medical foods and pharmaceuticals. In addition
to Iams, Galileo alliances include Warner-Lambert, DMV International
Nutritionals, Phytera, Inc. and academic institutions such as John
Hopkins University, University of Texas, and University of California.
Contact
Peter
Leighton, Vice President Marketing
Galileo Laboratories, Inc.
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