| Star Scientific Plans Worldwide Marketing and Sales of CigRx(TM) Nutraceutical in Partnership with inVentiv Health PETERSBURG, Virginia, November 4/PRNewswire/ --
Star Scientific, Inc. (Nasdaq: STSI) announced today that the company
plans to introduce the CigRx(TM) nutraceutical product developed by its
subsidiary, Rock Creek Pharmaceuticals, for worldwide marketing and sales in
partnership with inVentiv Health, Inc. (Nasdaq: VTIV). inVentiv Health offers
a complete range of commercialization solutions for every stage of the
product lifecycle, in a range of healthcare categories that includes
nutraceutical products. The company has marketing and sales capabilities in
40 countries around the globe. Jonnie R. Williams, Star's CEO, stated,
"Cigarette smoking is the leading cause of preventable death in the world.
However, the global cigarette business, which now exceeds US$300 billion,
continues to grow. Our goal is to make CigRx(TM) available to adult smokers
worldwide who wish to maintain a nicotine-free metabolism." Rock Creek
Pharmaceuticals will be responsible for the manufacturing of CigRx(TM), and
the company anticipates that inVentiv Health will be involved in the product
marketing and sales, with a focus on product education for physicians and
health care professionals, as well as consumers.
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Star also announced that it has retained McColl Partners LLC to advise
the company on a range of corporate finance matters, including the assessment
of strategic initiatives involving new products. McColl Partners, an
independent investment banking firm co-founded by Hugh McColl, former
Chairman of Bank of America, specializes in the needs of management and
owners of middle-market companies. The firm offers strategic advice and
assistance to its clients regarding mergers and acquisitions.
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Star
Scientific, Inc. and its consolidated subsidiaries (collectively, the
"Company") has tried, whenever possible, to identify these forward-looking
statements using words such as "anticipates", "believes", "estimates",
"expects", "plans", "intends" and similar expressions. These statements
reflect the Company's current beliefs and are based upon information
currently available to it. Accordingly, such forward-looking statements
involve known and unknown risks, uncertainties and other factors which could
cause the Company's actual results, performance or achievements to differ
materially from those expressed in, or implied by, such statements. These
risks, uncertainties and contingencies include, without limitation, the
challenges inherent in new product development initiatives, the uncertainties
inherent in the progress of scientific research, the Company's ability to
raise additional capital in the future necessary to maintain its business,
potential disputes concerning the Company's intellectual property, risks
associated with litigation regarding such intellectual property, potential
delays in obtaining any necessary government approvals of the Company's
low-TSNA tobacco products, market acceptance of the Company's new smokeless
tobacco products, competition from companies with greater resources than the
Company, the Company's decision not to join the Master Settlement Agreement
("MSA"), the effect of state statutes adopted under the MSA, and the
Company's dependence on key employees and on its strategic relationships with
Brown & Williamson Tobacco Corporation in light of its combination with RJ
Reynolds Tobacco Company, Inc. The impact of potential litigation, if
initiated against or by individual states that have adopted the MSA, could be
materially adverse to the Company.
Although the Company believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it can give
no assurance that the expectations will be attained or that any deviation
will not be material. See additional discussion under "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December 31, 2008, as
filed with the SEC on March 16, 2009, and other factors detailed from time to
time in the Company's other filings with the SEC, available at www.sec.gov.
This information is current as of this date. The Company undertakes no
obligation to update or advise upon any such forward-looking statements to
reflect events or circumstances after the date of this press release or to
reflect the occurrence of unanticipated events.
About Rock Creek Pharmaceuticals
Rock Creek Pharmaceuticals develops pharmaceutical products for treatment
of addiction and other neurological disorders, and other products such as
nutraceuticals. The company supports third-party academic, educational and
therapeutic advances in both these areas of research. Rock Creek has
scientific and research offices in Gloucester, MA and a regulatory office in
Washington, DC.
About Star Scientific
Star Scientific is a technology-oriented tobacco company with a toxin
reduction mission. It is engaged in the development of dissolvable smokeless
tobacco products that deliver fewer carcinogenic toxins (principally tobacco
specific nitrosamines, or TSNAs), through the utilization of the innovative
StarCured(R) tobacco curing technology, and in sublicensing that technology
to others. Star Scientific has a Corporate and Sales Office in Petersburg,
VA, an Executive, Scientific & Regulatory Affairs office in Bethesda, MD, and
manufacturing facilities in Chase City, VA. For more information, visit
http://www.starscientific.com
About inVentiv Health
inVentiv Health, Inc. (Nasdaq: VTIV) is an insights-driven global
healthcare leader that provides dynamic solutions to deliver customer and
patient success. inVentiv delivers its customized clinical, sales, marketing
and communications solutions through its four core business segments:
inVentiv Clinical, inVentiv Communications, inVentiv Commercial, and inVentiv
Patient Outcomes. inVentiv Health's client roster is comprised of more than
350 leading pharmaceutical, biotech, life sciences and healthcare payor
companies, including all top 20 global pharmaceutical manufacturers. For more
information, visit www.inventivhealth.com.
Contact:
Sara Troy Machir
VP, Communications & Investor Relations
Star Scientific, Inc.
+1-301-654-8300
Source: Star Scientific, Inc.
Sara Troy Machir, VP, Communications & Investor Relations, +1-301-654-8300
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