BTG Announces Development and Commercialization Agreements With Swiss Serum for Recombinant Hepatitis-B Vaccine.ISELIN, N.J.--(BUSINESS WIRE)--Feb. 11, 1998--Bio-Technology General Corp. (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 :BTGC BTGC Bio-Technology General (stock symbol) BTGC Bukit Tinggi Golf Club (Malaysia) ) today announced that it has entered into development and licensing agreements with Swiss Serum and Vaccine Institute Berne ("Swiss Serum") with respect to BTG's third generation recombinant hepatitis-B vaccine in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). , most of Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and various other countries. Swiss Serum will purchase vaccine from BTG BTG BIT (Built-In Test) Target Generator BTG Bridging the Gap BTG British Technology Group BtG Betreuungsgesetz (Germany) BTG Biomass Technology Group BV BTG Begbies Traynor Group for distribution and BTG will receive milestone payments from Swiss Serum as well as royalties on sales of the vaccine. The recently signed agreements cover the further scaling up and optimization of the hepatitis-B vaccine manufacturing process, the clinical development, registration and marketing of the vaccine in the licensed territory, and development of combination vaccines. BTG's recombinant hepatitis-B vaccine incorporates the S, pre-S1 and pre-S2 hepatitis-B surface proteins. The hepatitis-B antigens are expressed in mammalian cells and manufactured using a cost effective, proprietary process. BTG's vaccine has been administered to over fifteen hundred adults, children and neonates in numerous clinical studies throughout the world, and has been found to be safe and highly immunogenic im·mu·no·gen·ic adj. Producing an immune response. immunogenic producing immunity; evoking an immune response. . The data generated in these studies indicate that BTG's vaccine elicits a quicker immune response immune response n. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. and provides protection utilizing lower doses than existing commercial products. BTG believes, therefore, that its vaccine could represent a competitive and cost effective alternative to other hepatitis-B vaccines. The current worldwide market for hepatitis-B vaccines is approximately $1 billion. Commenting on the relationship with Swiss Serum, Sim Fass, Chairman, President and 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 BTG, stated: "The licensing agreement with Swiss Serum is yet another step towards the full commercialization of our pipeline and the worldwide distribution of all our products. Swiss Serum is a leading manufacturer of vaccines and is in the forefront of technological advances in the development of vaccines. We are therefore delighted to have them as our licensee for the Company's hepatitis-B vaccine and look forward to working together with Swiss Serum towards the product's successful commercialization. Now that almost one hundred countries have adopted compulsory vaccination programs against hepatitis-B virus, we are confident that the commercial potential for our product is significant and that together with our partners, we can become a key player in this market." Swiss Serum is a vaccine company based in Berne, Switzerland, focusing on the distribution of vaccines worldwide as well as on the development of new and innovative combination vaccines. Bio-Technology General Corp. develops, manufactures and markets genetically engineered genetically engineered adjective Recombinant, see there and other products for human healthcare. Statements in this news release concerning the Company's business outlook or future economic performance; anticipated profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions performance or other matters, are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those states in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. CONTACT: BIO-TECHNOLOGY GENERAL CORP. Leah Berkovits, 732-632-8800 or Investor Relations Investor relations The process by which the corporation communicates with its investors. STRATEGIC GROWTH INTERNATIONAL Don Weinberger, 516-829-7111 |
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