Guardion Health Sciences Completes Delivery of $875,000 Order to Malaysian Corporate Customer
Guardion Health Sciences has successfully fulfilled its initial order of Astramern from Astramune Sdn Bhd, a subsidiary of Ho Wah Genting Berhad. The shipment will contribute to the company's operating revenues for the quarter ending June 30, 2020. Astramern and acuMMUNE™ are part of Guardion's immune support product line, which aims to enhance immunity and reduce inflammation linked to respiratory infections. The company is also exploring additional business opportunities in the Far East despite current operational challenges.
- Completed shipment of Astramern will contribute to operating revenues.
- Successful fulfillment of a significant corporate order demonstrates operational capabilities.
- Operational and logistical challenges faced by traditional manufacturers.
Fulfills Initial Order of Astramern from Astramune Sdn Bhd, a Subsidiary of Ho Wah Genting Berhad
San Diego, California, June 30, 2020 (GLOBE NEWSWIRE) -- Guardion Health Sciences, Inc. (“Guardion” or the “Company”) (Nasdaq: GHSI) announced today that it has completed shipment of Astramern to Astramune Sdn Bhd, a subsidiary of Ho Wah Genting Berhad (“HWGB”) (KLSE:9601), a Malaysian company listed on the Malaysian Stock Exchange (Industrial Products sector). As such, the Company will recognize this shipment in operating revenues during the three months ending June 30, 2020. This order was previously announced by the Company on April 1, 2020.
Astramern is a sister product to acuMMUNE™, the Company’s proprietary immuno-supportive complex and the flagship product of the Company’s recently-acquired NutriGuard™ business line. acuMMUNE™ and Astramem are novel nutraceutical formulations designed to support the body’s immune function – including enhancing interferon-mediated anti-viral mechanisms and reducing the inflammation associated with certain respiratory infections. Additional information on acuMMUNE™ can be obtained at https://www.nutriguard.com/acummune/.
Dr. David Evans, Ph.D., Guardion’s interim President and Chief Executive Officer, commented, “We are pleased to announce the successful fulfillment of our first significant corporate order for our immune support product line. We believe that this demonstrates our ability to design, manufacture and deliver large-scale orders that originate from our NutriGuard™ brand, which was accomplished in spite of the operational and logistical challenges faced by traditional manufacturers in this current challenging business environment. Our team is continuing to evaluate other similar business opportunities in the Far East and elsewhere.”
Dr. Evans concluded. “I want to thank our entire team, and particularly Dr. Mark McCarty, the original founder of NutriGuard™, and now a senior scientist/consultant to Guardion, who led the development of this proprietary formulation.”
About Guardion Health Sciences, Inc.
Guardion is a specialty health sciences company (i) that develops medical foods and medical devices in the ocular health marketplace and (ii) that is developing nutraceuticals that the Company believes will provide medicinal and health benefits to consumers. Information and risk factors with respect to Guardion and its business, including its ability to successfully develop and commercialize its proprietary products and technologies, may be obtained in the Company’s filings with the SEC at www.sec.gov.
About NutriGuard™
NutriGuard™ formulates high-quality nutraceuticals, which are designed to supplement consumers’ diets. NutriGuard uses industry standards to establish the safety and efficacy of the products it develops and markets, maintains that commitment through prudent manufacturing and quality assurance programs, and only uses manufacturers who comply with FDA current Good Manufacturing Practices (cGMP) requirements. Guardion plans to increase NutriGuard’s existing customer base and build on its product platform by making NutriGuard products available to patients directly and through recommendations by their physicians.
About VectorVision®
VectorVision® specializes in the standardization of contrast sensitivity, glare sensitivity, low contrast acuity, and ETDRS acuity vision testing. Its patented standardization system provides the practitioner or researcher the ability to delineate very small changes in visual capability, either as compared to the population or from visit to visit. VectorVision’s® patented technology is considered the standard of care for clinical trials. VectorVision® is a wholly owned subsidiary of Guardion.
Forward-Looking Statement Disclaimer
With the exception of the historical information contained in this news release, the matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward- looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the Company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: Porter, LeVay & Rose, Inc.
Michael Porter
Telephone:(212) 564-4700
E-mail:mike@plrinvest.com
FAQ
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