Rohto Pharmaceutical has agreed with Pharma Foods International on joint development and equity participation. Under the agreement terms, the two companies will strive to develop materials for functional foods and medicines based on the IgY (egg yolk antibody) technology. Further, Rohto undertook a private placement of 1000 common stocks (a 23% stake) offered by Pharma Foods as of September 15th. Through this placement, the two companies aim to proactively promote joint development efforts while improving their respective corporate values.

—Jcnnewswire.net, 9/22/05