Health Sciences Group Acquires Apple Peel Technologies

Health Sciences Group Acquires Apple Peel Technologies

LOS ANGELES, ITHACA, N.Y. & PLANT CITY, Fla.HealthSciences Group Inc. (NASDAQ:HESG), an integrated provider of science-basedproducts and ingredients to customers in the nutrition, skin care, food andbeverage industries, and UTEK Corp. (AMEX:UTK), a technology transfer company,announced Health Sciences Group has acquired Apple Peel Technologies Inc., awholly owned subsidiary of UTEK, in a stock transaction.

Apple Peel Technologies holds the exclusive worldwide licenseto a patent-pending process to produce Apple Peel Powder, a proprietaryingredient developed at Cornell University that may be added to a variety offoods and beverages to enhance the nutritional content.

We are enthusiastic about the various applications forApple Peel Powder as it presents us with an opportunity to enhance nutraceuticalsupplements and many foods and beverages with beneficial antioxidant activity,said Fred E. Tannous, co-chairman and chief executive officer of Health SciencesGroup.