SALT LAKE CITY and TORONTO, September 29, 2014 (PRNewswire/-) EastGate Acquisitions Corporation (OTCBB: ESAQ), an emerging pharmaceutical company exploring drug delivery innovations in the development of novel formulations and alternative dosage forms of existing biologically active molecules, announces that it has entered into a licensing agreement with Purine Pharma LLC (www.purinepharma.com).
Under the licensing agreement Purine Pharma with registered offices in Freehold, NJ and a GMP-facility located in Massena, NY will manufacture, market & distribute of EastGate’s nutraceutical product line (www.nano-essentials.com) under its own private label and promote the products within the international markets within which they already market and distribute. The agreement also provides EastGate the option to use Purine Pharma as a contract manufacturer for its own brand name label for its own customers. Purine Pharma will pay a royalty fee to EastGate on sales of all of the products.
Purine Pharma LLC supplies and distributes liquid and dose over-the-counter medicine and prescription drugs. The company has over 200 products in their portfolio which include cold and allergy, analgesic, topical and vitamin and supplement products.
“Our agreement with Purine Pharma solidifies the company’s progression to commercialization” says Anna Gluskin , EastGate’s CEO. “Opening up the distribution channels for our innovative product line utilizing our sub-micron platform technology, this will reinforce our technology, expand our product line and build a revenue stream for the company.”
About EastGate Acquisitions Corporation
EastGate Acquisitions Corporation with locations in Salt Lake City, Utah and Toronto, Canada, is a pharmaceutical company aimed at utilizing drug delivery innovations for developing of improved novel formulations and alternative dosage forms of existing biologically active molecules. The Company’s model is based on a two-tier business approach that includes development of novel pharmaceutical products and innovative dietary supplements. Both pharmaceutical products and natural supplements are developed using highly effective contemporary technologies and demonstrated already proven usefulness in improvement of bioavailability and biological action of incorporated molecules. The Company’s product candidates address various pharmaceutical markets, including neurological disorders, such as epilepsy and panic attacks, infectious diseases and diabetes. Our natural dietary supplements, also an integral part of our R&D program, include compositions for glucose regulations, urinary tract health improvement, enhanced vitamin delivery and skin conditions. EastGate is working to expand its current product portfolio through targeted investments in pharmaceutical research and development. We are working closely with clinicians and patient advocate groups worldwide to identify existing health issues where EastGate’s approach will be most beneficial for patient care. For more information, please visit the company’s website at www.EastGatePharmaceuticals.com.
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions for “safe harbour” under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release.
The words “anticipates”, “plans”, “expects”, “indicate”, “intend”, “scheduled”, “estimates”, “forecasts”, “focus”, “guidance”, “initiative”, “model”, “methodology”, “outlook”, “potential”, “projected”, “pursue”, “strategy”, “study”, “targets”, or “believes”, or variations of or similar such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, or “should”, “might”, or “way forward”, “will be taken”, “will occur” or “will be achieved” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by EastGate as of the date of such statements, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. The risks, estimates, models and assumptions contained or incorporated by reference in this news release, include those identified from time to time in the reports filed by EastGate with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. EastGate undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Rose Perri 1-647-692-0652
Text: ESAQ to 87804