Hemosol Completes Agreements to License Novel Technology
2004年6月3日 - 6:30AM
PRニュース・ワイアー (英語)
Hemosol Completes Agreements to License Novel Technology Company to
Produce and Sell Valuable Therapeutic Proteins TORONTO, June 2
/PRNewswire-FirstCall/ -- Hemosol Corp. (TSX: HML, NASDAQ: HMSL)
today announced that it has entered into definitive license and
strategic alliance agreements with ProMetic Biosciences Inc. a
subsidiary of ProMetic Life Sciences Inc. (TSX: PLI), ("ProMetic")
to license the Cascade technology developed by ProMetic and its
strategic partner, the American National Red Cross ("American Red
Cross"), for the separation of valuable therapeutic proteins from
human plasma. Hemosol will integrate the Cascade technology into
its state-of-the-art Meadowpine facility and intends to sell the
resulting products to customers, including the American Red Cross.
"With this new business in place and implementation underway, we
have achieved an important milestone in the development of Hemosol
as a leader in the blood protein sector," said Lee Hartwell,
President & CEO of Hemosol. "By adding the products to be
derived from the Cascade technology, Hemosol will have a full
pipeline of therapeutic products that range from early stage
research and development through to those poised to enter the
clinic and beyond." The novel Cascade process integrates proven
technologies to significantly improve the yield and product
recovery of valuable therapeutic proteins isolated from human
plasma such as intravenous immunoglobulins (for the treatment of
immune deficiencies), alpha-1 antitrypsin (for the treatment of
hereditary emphysema), anti-hemophilic Factor VIII (for the
treatment of hemophilia) and others. The plasma-derived protein
market had annual sales of over US $5.6 billion in 2002 and this
market is expected to increase to US $6 billion in 2005. "The
Cascade process allows a yield recovery far exceeding those
obtained by plasma fractionators worldwide, opening up the door to
better access to key life saving drugs," said Pierre Laurin,
President & CEO of ProMetic. The American Red Cross has
committed in principle to supply plasma to Hemosol and subsequently
purchase therapeutic products isolated using the Cascade
technology. Under this license Hemosol will have the right to the
Cascade technology to manufacture therapeutic products from plasma
on an exclusive basis in North America. Exclusivity is subject to
establishing and achieving certain performance thresholds. Under
the terms of the strategic alliance agreement, ProMetic and Hemosol
have also agreed to work together to generate revenues in the short
term through technology transfer support and the supply of clinical
trial material to other forthcoming licensees of ProMetic outside
of North America. Hemosol expects to implement the technology at
its Meadowpine facility over the coming months and be in a position
to manufacture and sell clinical material by the end of 2005.
Commercial scale implementation would follow with full scale
commercial revenue anticipated to begin in late 2007 or early 2008.
Commercial sales of therapeutic products manufactured using the
Cascade process will require advance approval of the applicable
regulatory agency in each relevant jurisdiction and are subject to
the negotiation and entering into of supply agreements with
ProMetic, and the American Red Cross, as supplier's of materials
used in the Cascade process, and purchase agreements with the
American Red Cross and other customers for the purchase of
resulting therapeutic products. In addition to the two million
shares issued by Hemosol in December 2003, Hemosol will pay a
staged license fee of CDN $15.5 million and issue one million
common shares to ProMetic in exchange for Hemosol's rights to the
Cascade technology. One million common shares and CDN $1.5 million
are payable by Hemosol in connection with the execution of the
license and strategic alliance agreements and further cash payments
will be triggered by the achievement of certain pre-determined
milestones. Hemosol will also pay royalties to ProMetic related to
the sale of products manufactured using the Cascade. About ProMetic
ProMetic Life Sciences Inc. (TSX: PLI) is an international
biopharmaceutical company with headquarters in Montreal (Quebec),
and additional facilities in the UK and the USA. ProMetic
specializes in the research, development, manufacture and marketing
of a variety of commercial applications from its proprietary
platform technologies, which are used in the development of
therapeutics, large-scale purification of biologics and the
elimination of pathogens/viruses. About Hemosol Hemosol is a
biopharmaceutical company focused on the development and
manufacturing of biologics, particularly blood-related proteins.
Hemosol is leveraging its expertise in manufacturing blood proteins
and its state-of-the-art Meadowpine manufacturing facility to seek
additional strategic growth opportunities. Hemosol has a broad
range of novel therapeutic products in development, including
HEMOLINK(TM) (hemoglobin raffimer), an oxygen therapeutic designed
to rapidly and safely improve oxygen delivery via the circulatory
system. Hemosol is also developing additional oxygen therapeutics,
a hemoglobin-based drug delivery platform to treat diseases such as
hepatitis C and liver cancers, and a cell therapy program initially
directed to the treatment of cancer. Hemosol's common shares are
listed on the NASDAQ Stock Market under the trading symbol "HMSL"
and on the Toronto Stock Exchange under the trading symbol "HML".
Certain statements concerning Hemosol's future prospects are
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and other
applicable securities legislation. There can be no assurances that
future results will be achieved, and actual results could differ
materially from forecasts and estimates. Important factors that
could cause actual results to differ materially from forecasts and
estimates include, but are not limited to: Hemosol's ability to
obtain regulatory approvals for its products; Hemosol's ability to
successfully complete clinical trials for its products and enter
into satisfactory arrangements for the supply of materials used in
its manufacturing operations and the sale of resulting products to
customers; technical, manufacturing or distribution issues; the
competitive environment for Hemosol's products; the degree of
market penetration of Hemosol's products; Hemosol's ability to
obtain sufficient financing to complete clinical development of its
products; and other factors set forth in filings with Canadian
securities regulatory authorities and the U.S. Securities and
Exchange Commission. These risks and uncertainties, as well as
others, are discussed in greater detail in the filings of Hemosol
with Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission. Hemosol makes no commitment to
revise or update any forward-looking statements in order to reflect
events or circumstances after the date any such statement is made.
DATASOURCE: Hemosol Corp. CONTACT: Jason Hogan, Investor &
Media Relations, (416) 361-1331, 800 789-3419, (416) 815-0080 fax,
, http://www.hemosol.com/; Archived images on this organization are
available through CNW E-Pix at http://www.newswire.ca/. Images are
free to members of The Canadian Press. To request a free copy of
this organization's annual report, please go to
http://www.newswire.ca/ and click on reports@cnw.
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