Bulova Technologies Group, Inc. News

PanGenex Forms Exclusive Strategic Partnership with BulovaTech Labs November 16, 2009 - Press Release

TAMPA, Fla.--(BUSINESS WIRE)--PanGenex Corporation (Pink Sheets: PGCX), a global nutraceutical and dietary supplement manufacturer and marketer, announced today that it has finalized a strategic partnership with BulovaTech Labs, Inc., ("LABS"), a wholly-owned subsidiary of Bulova Technologies Group Inc., (Pink Sheets: BLVT). The new partnership supports the joint development and commercialization of PanGenex's nutraceutical and healthcare products. The partnership includes an exclusive collaboration agreement that will accelerate the development of proprietary technologies and products, which will be marketed by PanGenex under the PanGenex trademark.

"BulovaTech Labs is an ideal partner for PanGenex," said Jim Mosbaugh, COO of PanGenex. "Through LABS' parent company, Bulova Technologies Group, LABS has access to substantial technical and financial resources. Together, we can continue to drive momentum for sales of unique, condition-specific, and proven effective nutraceutical and healthcare products worldwide."

PanGenex has developed unique patent-protected products, which effectively address cardiac health, soft tissue calcification, and blood lipids. PanGenex's trademarked and patented products include: Calci-Clear TM, LIPIDEMETM and OmeganolTM, all of which are showing strong physician and end user acceptance in the $538 Billion soft tissue calcification treatment market. "LABS is an exciting venture that seeks to invest in high-growth ground floor opportunities, including the rapidly growing market for nutraceuticals. We are confident that by collaborating with PanGenex we can rapidly bring successful commercial products to markets worldwide," stated BulovaTech Chairman John Stanton.

About BulovaTech Labs, Inc.

BulovaTech Labs, Inc. ("LABS"), a wholly-owned subsidiary of Bulova Technologies Group, Inc. (Pink Sheets: BLVT), was founded in 2009 with the purpose to incubate, capitalize on, secure, and expand the market potential for proven market-ready technologies and products in the nutraceutical and health related industries. For more information, please visit http://www.bulovatechgroup.com.

About PanGenex Corporation

PanGenex pursues business opportunities in the $70 billion dollar nutraceutical and dietary supplement industry. With a focus on the cardiovascular health segment, PanGenex develops and markets sector-leading, patented or patent pending, condition-specific nutraceuticals and topical over-the-counter (OTC) drugs and personal care products. Many of its products contain the purest grade of nutraceutical components available anywhere without a prescription.

Pursuant to FDA regulations, since 2006, PanGenex has voluntarily submitted its product labels for review without incidence. PanGenex products are currently sold to healthcare practitioners in 20 U.S. states, Canada, Puerto Rico, Canada, Brazil and Australia, in fine retail establishments and on the Internet including: www.PanGenex.com, www.Calgenex.com and www.HeartHealthyWorld.com.


This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook. The statements in this press release have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.


BulovaTechnologies Group, Inc.
Beverly Mercer, 727-451-6560
PanGenex Corporation
Mindy Rippeto, 813-623-5268
[email protected]

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