|September 16, 2008|
Functional Technologies Announces The Granting Of Australian Patent
|VANCOUVER, BRITISH COLUMBIA - September 16, 2008 - Functional Technologies Corp. (TSXV: FEB) is pleased to announce the granting of a patent in Australia for the company's urea-degrading Phyterra Yeast products. The University of British Columbia (UBC) filed patent, titled "Modulating Urea Degradation in Wine Yeast", protects Functional Technologies' proprietary urea-degrading yeasts in one of the world's largest wine producing regions. Functional Technologies acquired the exclusive world-wide rights to UBC's urea-degrading yeast technology in 2003.|
"We have always approached yeast as a technology as opposed to a commodity. As such we have, and continue to, steadfastly pursue intellectual property protection for our urea-degrading yeast technology in key international markets," commented Howard Louie, CEO of Functional Technologies. "Intellectual property is a key competitive advantage for us today as we enter the commercial wine yeast market, and in the future as we target other fermented food and beverage and animal health markets."
"Our urea-degrading yeast technology is the foundation on which an intellectual property portfolio, based on the functional enhancement of micro-organisms, is being built. We plan to expand our intellectual property portfolio through additional yeast patents and patents on our complementary micro-organism development of micro-algae," added Mr. Louie. "The science of functionally enhanced products is beginning to address a growing need to produce responsible healthier products in the tried and true tradition of marrying knowledge with nature. When proper steps are taken to monitor and regulate this process and its usage, the consumer should have access to an increasing variety and scope of healthier products."
About Functional Technologies Corp.
Functional Technologies is a functional foods and biological health products company that develops and commercializes advanced yeast products, and other novel biological products, for the food and the health care industries. The company is currently commercializing a platform yeast technology that substantially reduces the formation of ethyl carbamate (also known as urethane, which has been recently reclassified by the World Health Organization up to a Group 2A carcinogen - the same carcinogen class as lead, mercury, acrylamide and diesel exhaust), from wines and other fermented beverages and foods. Functional Technologies has licensed the exclusive worldwide rights to this technology from The University of British Columbia (UBC). The company is expanding the development of next generation products in this area, as well as evaluating new yeast based technologies with broad commercial market applications. In addition Functional Technologies, through its wholly-owned subsidiary Phyterra Bio Inc., is developing a platform of proprietary biological products, for animal health, utilizing proprietary science in the field of micro-algae.
This news release contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. The actual results achieved may vary materially from the information provided herein. Consequently, there is no representation by Functional Technologies Corp. that actual results achieved will be the same as those forecast.
For further information, contact:
Functional Technologies Corp.
Hogan Mullally, Investor Relations
Toll Free: 888.442.4106
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