Advitech inc. ("Advitech" or the "Corporation") (TSX VENTURE: AVI) announced today that they concluded an agreement in principle (the "agreement") with Iprad SantÃ¯Â¿1/2, a pharmaceutical corporation specialized in the development and commercialization of dermatological and gynaecological products. This agreement targets the completion of a marketing and supply agreement for Dermylex(TM) in France, Belgium and, eventually, other European countries. This agreement has two short term objectives:
1. The signature of a definitive marketing and supply agreement for exclusive sale of Dermylex(TM) in France and Belgium before April 30, 2007.
2. The possibility to include, before April 30, 2007, Germany, Switzerland and Spain to the existing statement of agreement and thereafter sign a definitive marketing and supply agreements for each of these countries.
Commercialization of Dermylex(TM) in France and Belgium is planned to start in the third quarter of 2007, and a pre-launch activity is scheduled from June 22nd to June 24th at the 2nd Congress on Psoriasis held in Paris. During this congress, Advitech will realize a scientific presentation of the Dermylex(TM) in one of the congress workshops and a training session for French and European dermatologists will also be presented. The first delivery of Dermylex(TM) to Iprad SantÃ¯Â¿1/2 is planned for June 2007 and others should follow in the following quarters. Dermylex(TM) will be distributed in drugstores: there are more than 22,000 drugstores of these for France alone.
"This agreement is important for Advitech on two points: it sets up a first commercial partnership with a pharmaceutical company with a focus on dermatology and it validates our technological platform and clinical program on Dermylex(TM)" commented Renaud Beauchesne, president and chief executive officer of Advitech.
Pierre-Marie Defrance, president and chairman of Iprad Holding, added: "Right now, there is a new interest from psoriasis patients for a product like Dermylex(TM) and, after the analysis by our experts of the scientific and technical files available on Dermylex(TM), we are confident to position effectively this product on the French and European dermatologic markets. Iprad SantÃ¯Â¿1/2 employs 105 medical visitors and 32 sales representatives and our business plan is forecasting a rapid growth by leveraging our dermatological product portfolio".
Considering this new agreement, Advitech has given a notice to Cothera S.A of the termination to the 2005 agreement. Under this agreement, Cothera had the exclusive right to market Dermylex(TM) in France. Cothera has not reached the objectives defined by the contract and its cancellation has no legal impact.
About Advitech Inc.
Advitech is a health sciences and technology company with a mission to discover and commercialize proprietary and evidence-based natural health products. Effective and safe, these products play a role in the prevention of Immune-Mediated Inflammatory Disorders (IMID), such as psoriasis and inflammatory bowel disease. Advitech's common shares are listed on the TSX Venture Exchange under the symbol AVI. The number of common shares outstanding is 64,881,718.
About Iprad Group
Iprad Group consists of two different business units: Iprad Laboratory develops pharmaceutical products and Iprad SantÃ¯Â¿1/2 commercialises pharmaceutical products and food supplements for the Iprad Group. It employs on the French and Belgium territories 105 medical visitors and 32 commercial representatives. Their main products target the dermatological and gynaecological markets and they have generated, in 2006, sales of more than 40 million Euros. Group Iprad has experienced a strong growth over the past ten years and it intends to maintain this growth by adding up products specific to dermatology.
Dermylex(TM) developed by Advitech, is an oral natural health product relieving mild-to-moderate psoriasis symptoms. Two clinical trials, one of them multi-center, double-blind and placebo-controlled, for 112 days and on 84 patients, clinically proved the efficacy and safety of Dermylex(TM) for that type of psoriasis. Dermylex(TM) is currently available in Canada. For more information, please visit the www.dermylex.ca website.
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.