SOURCE: Health Enhancement Products, Inc.

July 12, 2007 08:00 ET

Health Enhancement Products Announces Dr. Robert Cohen to Join Scientific Advisory Board

Manuscripts on Clinical Trials Submitted; Company to Host Conference Call to Discuss Developments

SCOTTSDALE, AZ--(Marketwire - July 12, 2007) - Health Enhancement Products, Inc. (OTCBB: HEPI) (the "Company") announced today that Dr. Robert Cohen has joined its Scientific Advisory Board, significantly strengthening the Company's clinical and pharmaceutical research team. Dr. Cohen has extensive experience in clinical trials involving both traditional and integrative medicine and has consulted on projects at M.D. Anderson, City of Hope, Emory University, Shepherd Spinal Center and Hadassah Hospital in Israel. The Company also announced that two manuscripts describing the Company's clinical trial results have been submitted for consideration for peer-reviewed publication. A conference call will be hosted on July 19, 2007 at 4:00 p.m. Eastern time to discuss these and other developments.

Robert Cohen, M.D., a member of the Emory Clinic, Inc. and faculty of Emory University, also has an academic appointment in the Emory University School of Medicine. He has had years of experience initiating and developing grant applications and helping to obtain necessary funding. Dr. Cohen will consult with HEPI Pharmaceuticals, Inc., the Company's subsidiary, on new drug development and clinical trial design and execution, and with the Company on the further development of ProAlgaZyme®, the Company's nutraceutical product. Dr. Cohen said that "ProAlgaZyme shows great promise, and I am looking forward to assisting the Company in achieving its goals." Thomas Ingolia, the Company's CEO, added, "We are delighted to be able to work with a physician, scientist, and clinical researcher with such an outstanding track record and reputation. Dr. Cohen's input should significantly enhance our ability to plan and execute our research projects."

The Company also announced the submission of manuscripts for possible publication in peer-reviewed journals of the clinical trial results for ProAlgaZyme®, the Company's nutraceutical product. Recent clinical trial results suggest that ProAlgaZyme has the potential to reduce cholesterol by 32% on average and the potential to reduce key markers of inflammation by 57% on average.

Company to host conference call to discuss these and other initiatives

Thomas Ingolia, CEO of the Company, will host a conference call Thursday, July 19, 2007 at 4:00 p.m. (Eastern Daylight Saving Time) (1:00 p.m. Pacific Daylight Saving Time). Interested participants may listen to the call by dialing 1-(866) 814-8476, approximately 5 minutes prior to the call.

In addition to discussing major initiatives of the Company, one goal of the conference call will be to explain the purpose and structure for the Company's recently created subsidiary, HEPI Pharmaceuticals, Inc. In brief summary, in light of recent clinical trial results and findings in laboratory studies, it appeared that a high-potential strategy for the Company was to develop component(s) of ProAlgaZyme® as separate pharmaceutical opportunities. Historically, major pharmaceutical companies do not invest in nutraceutical companies. However, since the primary source for funding to test and develop new pharmaceuticals is through these major pharmaceutical companies, the Company created the pharmaceutical subsidiary to facilitate potential funding by these pharmaceutical companies. The pharmaceutical subsidiary, HEPI Pharmaceuticals, Inc., will now be responsible for developing the potential pharmaceutical opportunities represented by purified, individual components of ProAlgaZyme®. After giving effect to the planned distribution to the Company's shareholders, the Company will control 90% of the newly formed subsidiary and will continue to own 100% of ProAlgaZyme®, subject to the rights of the subsidiary to develop the potential pharmaceutical opportunities. Under the development agreement that conveys the pharmaceutical rights to the subsidiary, the Company continues to have the right to market ProAlgaZyme® as a nutraceutical. Further, external distributors of ProAlgaZyme® are similarly unaffected by placement of the pharmaceutical opportunities. At the present time, there are no inquiries regarding buy-out or investment by a pharmaceutical company and we would not expect any such inquiries prior to development of lead compounds, which may never materialize. Further information about the pharmaceutical subsidiary can be found in the Company's Information Statement filed with the SEC on June 11, 2007.

About Health Enhancement Products, Inc. and ProAlgaZyme®

Health Enhancement Products, Inc. is a nutraceutical company engaged in the development of a Dietary Supplement product using only pure, all-natural ingredients. The company's sole product is ProAlgaZyme®, a liquid product produced from algae grown in 100% distilled water. The liquid in which the algae are grown is drawn off, filtered, tested and bottled as ProAlgaZyme®. ProAlgaZyme®, currently available on the internet as a nutraceutical product at www.heponline.com, is known to have been used in humans since the 1980s. Since that time, clinical trials have been completed in lab animals as well as humans, with encouraging results.

Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, our inability to obtain regulatory approvals necessary to market and sell PAZ as a pharmaceutical, and the company's ability to secure funding, including for the subsidiary's pharmaceutical development of PAZ. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.

For more information, please visit www.heponline.com.

Contact Information

  • Contact information:

    Thomas D. Ingolia
    CEO
    Email Contact: Email Contact
    480-385-3800