SCOLR Sells Probiotics Business

SCOLR Sells Probiotics Business

BELLEVUE, Wash.SCOLR Inc.(OTCBB:SCLL) reported Jan. 5 that as part of its previously stated plan to focuson the growth and development of its drug delivery business, the company enteredinto an asset purchase agreement to sell its probiotics development andmanufacturing business for $2.7 million. The purchaser is a company formed by Steven Moger, SCOLRsvice president of operations, chief financial officer and general manager of itsprebiotics division. He will resign his position as an officer of SCOLR inconnection with the closing.

We can now move forward as a pure-play drug company andfocus all of our attention and assets on the potential offered through ourportfolio of patented [controlled delivery technologies, CDT], said DanielWilds, president and chief executive officer. He added most of the companysrevenues have been generated by the prebiotics/nutraceutical operations. Thecompany plans to replace these revenues over time with drug delivery-relatedresearch and licensing fees, milestone payments, and royalties.