CALGARY, Alberta, June 1, 2011 /PRNewswire/ -- Fero Industries,
Inc. (OTCBB: FROI) (OTCQB: FROI) (the "Company") is pleased to
announce that independent human clinical trials of Sucanon® have
been successfully completed in the Middle
East. The results of the clinical trials conducted at
the University of Tehran in
Iran have confirmed previous
studies from Canada, China, and Peru, which show Sucanon® to be a safe and
effective treatment for Type-2 diabetes and pre-diabetes.
Completion of the study has enabled the Company to move
forward with plans for registration, licensing, and distribution of
Sucanon® across the Middle
East.
"The results of the University of Tehran human clinical trials have confirmed
the safety and effectiveness of Sucanon® as a treatment for Type-2
diabetes and pre-diabetes across the entire spectrum of the Middle
Eastern population," said Mr. Luis
Lopez, Chief Operating Officer of Fero Industries.
"With this study in hand, the Company has begun the process
of negotiating licensing agreements with established pharmaceutical
distributors and is preparing registration dossiers to be submitted
to the Ministries of Health in several countries across the
Middle East region, including
Iran, Kuwait, Jordan, Saudi
Arabia, Palestine, Qatar,
and Egypt."
The Middle East has one of the
largest and fastest growing diabetic populations in the world.
Six countries in the Middle
East and North African Region rank among the world's top ten
for diabetes prevalence. Current estimates show that 26.6
million people have Type-2 diabetes in the region (7.7% of the
adult population) with that number expected to nearly double in the
next 20 years. Similarly, the number of people with Impaired
Glucose Intolerance ("IGT") or "pre-diabetes" is estimated to be an
additional 24.4 million cases (7.1% of the adult population).
Healthcare costs associated with diabetes in the region were
estimated to be $5.6 billion in
2010.
About Sucanon®
Sucanon® is one of only three approved drugs in the
multi-billion dollar market for a class of diabetic medications
called "insulin sensitizers". Pre-clinical and clinical
studies show that Sucanon® and other insulin sensitizers lower a
patient's blood sugar by increasing the muscle, fat and liver's
sensitivity to the body's own naturally produced insulin.
Sucanon® has been approved for prescription sale in
China and Peru. Sucanon® is also approved as an
OTC treatment for type-2 diabetes by regulatory authorities in
Mexico, and is distributed there
under an exclusive agreement with Merck S.A. de C.V.
For further information regarding Sucanon®, please visit the
Fero Industries Inc. website at www.feroindustries.com, email us at
info@feroindustries.com, or call toll-free (855) 543-4900.
About Fero Industries Inc.
Fero Industries, Inc. (OTCQB: FROI) is focused on diabetes
prevention and treatments. The Company holds the intellectual
property and all exclusive world-wide rights related to the
production, marketing, and distribution of Sucanon®, a treatment
for type-2 diabetes. Sucanon® is a member of a class of
diabetic medications called insulin sensitizers. Insulin
sensitizers lower blood sugar by increasing the muscle, fat and
liver's sensitivity to insulin. Insulin sensitizers are blood
sugar normalizing or euglycemic drugs that help return the blood
sugar to the normal range without the risk of low blood sugars.
Fero's strategy is to increase awareness, acceptance, and
distribution of Sucanon® globally.
For investor relations contact:
Michael Irving
Paramount Advisors, LLC
(407) 878-5462
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "future," "may," "will,"
"would," "should," "plan," "projected," "intend," and similar
expressions. Such forward-looking statements, involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of Fero Industries,
Inc. (the Company) to be materially different from those expressed
or implied by such forward-looking statements.
The Company's future operating results are dependent upon many
factors, including but not limited to the Company's ability to: (i)
obtain sufficient capital or a strategic business arrangement to
fund its expansion plans; (ii) build the management and human
resources and infrastructure necessary to support the growth of its
business; (iii) competitive factors and developments beyond the
Company's control; and (iv) other risk factors discussed in the
Company's periodic filings with the Securities and Exchange
Commission, which are available for review at www.sec.gov under
"Search for Company Filings".
SOURCE Fero Industries, Inc.