SCOTTSDALE, AZ, Nov 18, 2011 (MARKETWIRE via COMTEX) -- The board directors of Health Enhancement Products, Inc. HEPI +13.33% , a Scottsdale, AZ-based food ingredients and nutraceutical enterprise, has authorized an expanded study of its algae extracts. Since May of 2011, the Company has been working with Battelle, the world's largest independent research and development organization, to isolate the active molecules in its proprietary algae extract, specifically those natural compounds responsible for supporting a healthy cholesterol balance. Over the intervening months, Battelle research scientists have conducted a series of experiments to separate bioactive fractions of the algae extract in order to isolate and further characterize the bioactive components.
That program has resulted in a number of isolates that can now be tested in vivo. The in vivo portion of this expanded research project will be carried out in several steps. The in vivo study is expected to commence in several days. The isolated samples will be administered to test subjects over the course of 30 days, after which an evaluation process would identify those samples with bioactivity. Battelle scientists would subject those samples to further refinement and validation, or proceed directly to a final analysis.
In February of 2011, Health Enhancement had filed a global PCT patent application specifically detailing the method of cholesterol regulation. In October of 2010, the Company had been issued a US patent for its unique and novel method of extracting the active compounds from its proprietary algae culture. The Company expects to file several additional patent applications in the next two months to protect its growing intellectual property portfolio.
"Health Enhancement Products is committed to seeing this research program through to its ultimate conclusion," states board chairman Stephen Warner. "Following the anticipated success of this research work, we expect to embark on a product development program to establish marketable applications for the derivatives of these natural products."
The Company intends to move forward with a product development plan created by consulting group Great Northern & Reserve Partners. Details of the plan will be released as specific benchmarks and milestones are reached over the course of the next few months.
Philip M. Rice II, the Company's newly appointed Chief Financial Officer, is pleased with the new developments. "We're entering a new era," states Mr. Rice. "The process of managing the research and funding its progress are being streamlined and re-focused. We can look forward to a regular timetable of announcements and real progress on several fronts."
About Health Enhancement Products, Inc.
Health Enhancement Products, Inc. HEPI +13.33% is a health & wellness company engaged in the development of natural products derived from algae cultures for use as dietary supplements and food ingredients. These natural products are extracted from living algae grown in purified water.
As the world's largest independent research and development organization, Battelle provides innovative solutions to the world's most pressing needs through its four global businesses: Laboratory Management; National Security; Health and Life Sciences; and Energy, Environment, and Material Sciences. It advances scientific discovery and application by conducting $6.5 billion in global R&D annually through contract research, laboratory management, and technology commercialization. Headquartered in Columbus, Ohio, Battelle oversees 22,000 employees in more than 130 locations worldwide, including seven national laboratories which Battelle manages or co-manages for the U.S. Department of Energy and the U.S. Department of Homeland Security and a nuclear energy lab in the United Kingdom.
Battelle also is of the nation's leading charitable trusts focusing on societal and economic impact and actively supporting and promoting science, technology, engineering, and mathematics (STEM).
Safe Harbor Statement
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, and the company's ability to secure funding. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and those actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.
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