MDM Group, Inc. (OTC.PK: MDDM) advises that it has signed an agreement to participate in the Russian Biotechnological Consortium for Medicine and Agriculture (BIOMAC). BIOMAC will use its resources as an interdepartmental instrument of the Russian government-private partnerships to locate technologies from throughout Russia. Further, BIOMAC will also be an advocate for technology transfer.
Consortium BIOMAC was formed in 2001 within the framework of the Agreement between four ministries of the Russian Federation: Ministries of Industry, Science and Technology, Ministry of Health, Ministry of Agriculture, and the Ministry of Education. Since inception, BIOMAC has been expanded to include the Russian Academies of Sciences, of Medical Sciences, and of Agricultural Sciences.
Under the Consortium BIOMAC memorandum:
BIOMAC will assist MDM in locating novel drugs, vaccines, diagnostics, and related technologies that directly apply to MDM's Biodefense Development undertakings; and,
BIOMAC will assist in the area of technology transfer as it relates to the Russian government.
Since MDM's November 10, 2004, announcement of the establishment of its Biodefense Division, MDM's team has been evaluating several technology opportunities from sources around the world. Consistent with its original mandate, MDM's focus is on niche projects in Defense or Homeland Security that have confirmed markets and can progress rapidly to products for countermeasure enhancement.
Dr. Ed Stephen, head of MDM's biodefense division, recently completed a one-month trip to Russia where he visited numerous partner research institutes and discussed many potential projects for MDM's Biodefense Development. Dr. Stephen commented, "Our ISTC Partnership, primarily involving former defense institutes, and now our membership in the Consortium for Medicine and Agriculture creates an immediate and important extension to the scientific capabilities and the facilities available to us. MDM has signed multiple NDAs and is now in the process of signing agreements for technologies that it will pursue in the short-term."
MDM Group is a development stage Company focused on the Security, Biodefense, Law Enforcement and Homeland Security industries.
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.
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