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April
18, 2001 –Minnetonka, MN-LecTec Corporation (Nasdaq National Market:
LECT) LecTec Corporation proudly announces the patent filing and planned
June 2001 introduction of the eleventh member of the innovative
TheraPatch® family of products
- new TheraPatch Psoriasis™.
In accordance with our “First
Patch In Category” strategy, we are excited to be introducing this new
over-the-counter (OTC) ointment on a breathable cloth patch product to
be used for the temporary relief of the intense itching, redness,
scaling, and flaking associated with psoriasis and seborrheic
dermatitis. Medicated TheraPatch Psoriasis™
is steroid- free and contains
aloe vera. TheraPatch Psoriasis
offers a protective covering for the affected area; it is easy to use
and eliminates the inconvenience of messy creams and gels.
Over
7 million people in the U. S. suffer from psoriasis; and there are
150,000-200,000 new cases each year.1 The US OTC anti-itch
category is estimated to be a $392.5 million dollar market with an
attractive annual growth rate of 7.2%1. TheraPatch Psoriasis
is latex free and contains
proven, safe and effective ingredients to relieve itching, redness,
scaling, and flaking, as well as soothe and moisturize the area.
"Our consumer research and consumer focus groups suggest a strong
acceptance of our new psoriasis product," commented Rodney A.
Young, Chairman, CEO and President of LecTec Corporation.
1.
National Skin Centre, National Psoriasis Foundation, medicplanet, planetrx.com
"We
believe TheraPatch Psoriasis will provide valuable comfort for those
individuals who suffer from psoriasis.
The introduction of TheraPatch Psoriasis demonstrates LecTec's
rapid innovation, speed to market capabilities and the multiple
applications of our patented ointment on breathable cloth hydrogel/patch
technology. It is yet another significant innovation in our TheraPatch
line of products,” concluded Young.
With
this new product, a total of eleven TheraPatch products will be
available nationwide at food, drug and mass retailers. The TheraPatch
family of products currently available includes: TheraPatch Cool and
TheraPatch Warm, which provide temporary relief from minor aches and
pains; TheraPatch Anti-Itch "For Kids" and TheraPatch
Anti-Itch "Outdoors," which provide temporary relief from the
itching and pain associated with insect bites, minor skin irritations,
and rashes due to poison ivy/oak/sumac; and TheraPatch Vapor Chest,
TheraPatch Vapor Nose & Chin and TheraPatch Vapor Cherry Patch
"For Kids," which provide temporary relief from coughs due to
colds, TheraPatch Cold Sore, and TheraPatch Headache and TheraPatch
Fever “Cooling comfort patches”, which are non drug adjuncts to oral
headache and fever medication.
LecTec
is a health care and consumer products company that develops,
manufactures and markets products based on its advanced skin interface
technologies. Primary products include over-the-counter topical drug
delivery patch products.
This
press release contains forward-looking statements that may include
statements regarding intent, belief or current expectations of the
company and its management. These forward-looking statements are not
guarantees of future performance and involve a number of risks and
uncertainties that may cause the Company's actual results to differ
materially from the results discussed in these statements. Factors that
might cause such differences include, but are not limited to, buying
patterns of major customers, market acceptance of LecTec's products,
competitive products, impact of interruptions to production,
availability of capital to finance growth, regulatory risks and other
risks and uncertainties detailed from time to time in the Company's
filings with the Securities and Exchange Commission, including the
Company’s Form 10-Q for the quarter ended December 31, 2000.
Contact:
Rodney A. Young, CEO or Timothy R. J. Quinn, Vice President of Consumer
Products Division (952-933-2291)
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