Advitech Announces That Cothera Confirms the Introduction of Dermylex 'TM' in France.QUEBEC CITY, Quebec -- Advitech Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AVI) today announced that Cothera s.a has confirmed its intent to introduce and market Dermylex(TM) in France in September 2006, after securing the appropriate authorizations from the French Regulatory Office (the "AFFSA AFFSA Air Force Flight Standards Agency (USAF) ") to ensure compliance of Dermylex(TM) as an OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). product in France.The introduction will take place in September 2006. Therefore Advitech and Cothera have entered in discussions for the conclusion of a definitive agreement in principle by April 30th 2006.The terms defining the scope of the definitive agreement was part of the principle agreement signed December 19th, 2005.The definitive agreement will grant Cothera exclusive rights to market Dermylex(TM) in specific segments of the French dermatology market. It will also stipulate minimum purchase level that Cothera must achieve in order to maintain its exclusivity. In addition, Cothera will implement a marketing program including specific dermatologists coverage objectives in France. Commenting on the news, Renaud Beauchesne, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Advitech, said "We are pleased with Cothera's success regarding the acceptability of Dermylex(TM) by the AFFSA and with their strategy to quickly introduce Dermylex (TM) in this market." Francois Miceli, president of Cothera, added: "We have been able to work in a very proactive way with Advitech to secure the appropriate authorizations under our regulatory system and by doing so, we will be able to launch Dermylex in the French Market in September 2006." About Cothera Cothera is a company headed by three former senior executives from large pharmaceutical companies. Francois Miceli, one of its co-founders and its non-executive Chairman, is the former CEO of IDEXX Laboratories Italia, a subsidiary of IDEXX Laboratories (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IDXX). Dominique Bourgeade, co-founder and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , is the former Head of the pharmaceutical division of Pharmacia France, a company now part of Pfizer (NYSE NYSE See: New York Stock Exchange : PFE). J.C. Anton, co-founder and Chief Scientific Officer, was previously Marketing Director of Pierre Fabre Laboratories COTHERA(R) s.a.s. (www.cothera.com) is a French-based company which develops, manufactures and markets proprietary nutraceutical formulations to people at risk or suffering from neurodegenerative and/or chronic diseases through health care professionals, as a complementary integrated medicine, that is, one given in conjunction with allopathic Allopathic Pertaining to conventional medical treatment of disease symptoms that uses substances or techniques to oppose or suppress the symptoms. Mentioned in: Traditional Chinese Medicine treatment. COTHERA(R) is dedicated to improving patient quality of life/care by providing scientific and clinically- backed nutraceuticals formulated in collaboration with leading physicians who focus on specific "patient" situations, recommended/initiated by doctors, and delivered directly to the customer/patient. About Dermylex(TM) Dermylex(TM) is Advitech's orally administered product for mild to moderate plaque psoriasis. Dermylex(TM) is based on Advitech's XP-828L, a bioactive ingredient with proven clinical efficacy.On July 5, 2005, the Company reported positive results from its Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II of XP-828L for treating mild to moderate psoriasis. The 112-day, multi-center, double blind, placebo-controlled study, involving 84 patients, confirmed the efficacy and excellent safety profile of XP-828L for treating mild to moderate psoriasis. About Advitech Advitech is a Canadian biotechnology company specializing in the development of clinically tested bioactive ingredients for chronic immune-mediated inflammatory diseases (IMID IMID Immunomodulatory Drug (Celgene) IMID Immune Mediated Inflammatory Disorders ), such as psoriasis and inflammatory bowel diseases. Advitech's common shares are listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol AVI. The number of common shares outstanding is 54,799,818. 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 Company disclaims any obligation to update these forward-looking statements. The TSX Venture Exchange does not accept responsibility for the ad equacy or accuracy of this release. Advitech Inc. (TSX VENTURE:AVI) |
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