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Greystone Pharmaceuticals Engages Stanford Group to Explore Platform Technology
FORT MYERS, Florida, June 28 /PRNewswire/ -- Greystone Pharmaceuticals, Inc., a specialty pharmaceutical and medical device company headquartered in Fort Myers, announced today that it had engaged Stanford Group Company to explore strategic and financing alternatives for the commercialization of Greystone's proprietary PHI platform technology. Among the alternatives that will be weighed are out-licensing, development joint ventures and strategic sales. PHI is a patented synthetic compound developed by Greystone that is proven effective in treating a number of skin and wound disorders. Currently, Greystone manufactures three advanced wound care dressings designed to promote healing in chronic wounds such a bed sores and diabetic leg ulcers. These products are sold in the U.S., Europe and the Middle East under the company's own brands and for third parties including 3M Medical. "As a small company, there is only so much we can do to exploit this technology for the benefit of our shareholders and patients," said Martin Doyle, Greystone's president. "Stanford has extensive contacts in the life science industry and knows our technology well. I am confident they will do a fine job of identifying and evaluating opportunities," commented Doyle. "We are honored to be working with the management of Greystone in pursuing financing and strategic alternatives," said Jonathan Burklund, Managing Director and Head of Healthcare Investment Banking of Stanford. "With the product's 510K approval and gaining momentum in the marketplace, the company is at an inflection point in its history." Web site: http://www.greystonepharmaceuticals.com
