HOUSTON, Sept. 15, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) today announced that it has received 1,813 shares of Vetdermal Systems Limited (VDS), Registered in England. These shares represent the first installment of CSJJ's $2M investment program to purchase a major equity interest in VDS. CSJJ is proud to be a major investor in VDS, whose business strategy is to become the leader in the development of specialty transdermal formulations of drugs. CEO Andrea Cortellazzi stated: "This is a significant milestone for CSJJ and instantly transforms us into a viable and profitable technology holding company. VDS has tremendous potential in the multi-billion dollar pharmaceutical market and we are excited to own a major stake in it." Further information on the growth and accomplishments of VDS will be released in the near future.
About Vetdermal Systems Limited (VDS)
VDS is a private UK pharmaceutical R&D company established to develop a new passive transdermal approach to drug delivery. VDS has secured an exclusive license for the use of several innovative technologies, including: (i) a patented, proven, basic emulsion technology for transdermal administration of various molecules. Proof of concept has been achieved in Phase I clinical trials and Phase IIa clinical trials; (ii) novel compounds, able to alter the membrane fluidity directly and indirectly and increase the permeation of the skin to peptide drugs; and (iii) a transdermal drug delivery skin-top device. Going forward, VDS is seeking collaboration to identify and develop other therapeutic compounds that show marketing potential. VDS will increase the company's value through the creation of alliances with major strategic partners.
For more information please contact CEO Andrea Cortellazzi at (647) 886-2703 or visit the Company website at www.coastalholdings.com.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.