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Afid Therapeutics Inc Expands Diversification and Market Thrust: Lands Third Order from Major Aerospace Companies for Advanced Glyco-based Reactant

LANSING, Mich., Aug. 19 /PRNewswire/ -- Afid Therapeutics Inc announced today that it had received the third of three anticipated orders from leading aerospace companies for a new high purity reactant that it prepares from plant materials using its large repertoire of carbohydrate-based chemistry. The company utilizes raw materials obtained from readily available high-volume processing residue from crops such as corn and sugar beet. It then carries out chemical transformations on these to make advanced intermediates used in a wide spectrum of applications. The first products were developed for the pharmaceutical and general drug discovery and development industries. The company has more than 100 companies and institutions around the world using its pharmaceutical chemistry. The new aerospace products are part of a continuing evolution in Afid's drive to develop a total chemistry from biomass. Anticipated near to mid-term orders should run into the tens of thousands of pounds. The Federal Government is the end user of the first 1500 pounds of product which is in the final stages of preparation and purification and is due for shipment in a few weeks. "It is especially gratifying to see success in using chemical technology to bridge the aerospace and agriculture industries," said Rawle Hollingsworth President and Founder of Afid. "Michigan is the perfect place for this kind of effort in which agriculture is placed at the center of a budding scientific, technical and economic revolution to provide a sustainable technology base. In many respects, this is the future of the chemical industry."

"Agriculture and the corn industry in Michigan are certainly creating opportunities here in our state," said Jody E. Pollok-Newsom, Corn Marketing Program of Michigan Executive Director. "Our state's farmers have been funding research for more than 15 years targeted at finding new markets and uses for our increasing corn crop. Through technology, farmers are able to grow more corn on less land. As that technology evolves, so does the technology for projects like this, to utilize a crop we grow in Michigan to lessen our dependence on foreign imports and create jobs while strengthening our economy. We are proud to partner with Afid Therapeutics!"

Afid Therapeutics Inc (www.afidtherapeutics.com) is a privately held Michigan corporation that was launched from Michigan State University. It has benefited from funding from the Corn Marketing Program of Michigan, the State of Michigan 21st Century Fund, The Western Michigan University BRCC and Ann Arbor Spark (Michigan).

SOURCE Afid Therapeutics Inc