Cortecs Launches New Point-Of-Care Platform Technology; First IN U.K. For Helisal One Step Test.

LONDON--(BUSINESS WIRE)--December 30, 1996--Cortecs International ("Cortecs") (NASDAQ:DLVRY / LSE:COR / ASX:CRI) the U.K. based pharmaceutical company, has announced that its subsidiary, Cortecs Diagnostics Limited, has launched a new product, "Helisal One Step" based on the Company's new proprietary One Step rapid point-of-care diagnostic technology. The One Step device is a new, simple and streamlined point-of-care test whose technology potentially can be applied to diagnosing or monitoring a range of disease states.

Helisal One Step is the first product launched using the new technology and is the most technologically advanced rapid point-of-care test for Helicobacter pylori, the bacterium that causes peptic ulcers, gastritis and is linked with gastric cancer. The test can be carried out in the GP's surgery and gives an easy to read result. The Helisal One Step test pack contains a finger pricking device and the completely self-contained test. With Helisal One Step the blood sample is simply collected on a comb-shaped key which is then pushed into the Helisal One Step body and snapped shut. The result can then be read within five minutes from a specially designed window in the device. Once closed the device cannot be re-opened. There is no extra handling of the blood sample which means the new one-step procedure makes testing even easier and safer to carry out in the doctor's surgery. The development of this uniquely simple test opens the opportunity for over the counter sales in appropriate markets.

Commenting on this new test, Mr. John Curtis, Managing Director of Cortecs Diagnostics Limited, said: "Helisal One Step is the first in an exciting new range of efficient diagnostic tests being developed by Cortecs. It is our aim to link diagnosis with appropriate treatment and provide important disease management capabilities to the medical profession in diseases such as Helicobacter pylori, osteoporosis, diabetes, tuberculosis and nasopharyngeal cancer. When tested on over 400 volunteers, Helisal One Step had an accuracy of over 90%, which compares favorably with other serology based tests. The test will be distributed by Cortecs by Boehringer Mannheim for Europe and the U.S., Axcan for Canada and Zenyaku Kogyo for Japan who have the rights to the new test under existing agreements with them."

Dr. Paul Moayyedi, Research Fellow in Gastroenterology, Leeds General Infirmary, added: "This new test, which costs about #12 in the U.K., will make it even easier for doctors to test their patients for H. pylori and initiate eradication when appropriate, contributing to significant savings for the NHS and improved outcomes for patients."

Cortecs believes it is at the leading edge of rapid point-of-care diagnostics. The new technology will assist the Company to maintain its position as a source of innovative near patient tests. These aim to improve patient benefits and outcomes and to enable healthcare providers to reduce costs by reducing the referral chain, providing early diagnosis and treatment and hence the potential to avoid complications in the disease being diagnosed.

Cortecs is a British based company quoted one the London Stock Exchange, the Australian Stock Exchange and on Nasdaq. The Company specializes in the development of new oral pharmaceutical delivery systems, new oral mucosal vaccines and point-of-care rapid diagnostics which provide the opportunity to advance the management of serious diseases such as:

OSTEOPOROSIS Oral Calcitonin - An oral therapy for the prevention of bone breakdown. In Phase II/III.

Osteosal - A rapid doctors' office test to detect increased bone breakdown indicating the risk of the disease osteoporosis and also to monitor the adequacy of therapy. In development.

HELICOBACTER PYLORI Helisal - A rapid doctors' office whole blood test for the detection of H. pylori. In the market. A 'one-step' whole blood test for the detection of H. pylori. In development. A rapid saliva test. In development.

Oral Therapeutic Vaccine - In development to stimulate immunity.

Oral Therapeutic - In research to improve eradication results.

DIABETES Glycosal - Three rapid doctors' office tests in development to assist in the management and identification of diabetes.

Oral Insulin - Preparing for Phase II trials.

Neurulin - A topical product to treat diabetic neuropathy. In Phase II trials.

CYSTIC FIBROSIS & CHRONIC BRONCHITIS Pseudostat - An oral therapeutic antigen to treat and prevent lung infection with Pseudomonas aeruginosa now in Phase II trials.

INFLUENZA Flustat - An oral vaccine against influenza entered Phase I trials.

TUBERCULOSIS Diagnostics - Rapid point-of-care, self-contained diagnostic kits, designed for use without any special training. In development.

THRUSH Moniliastat - An oral therapeutic vaccine against vaginal thrush. Enters human trials in current financial year.

MALE HORMONE DEFICIENCY Halo Testosterone - An oral male hormone replacement therapy in development to treat male hypogonadism. In development.

Cortecs also markets a range of ethical and OTC medicines and diagnostic products in the U.K.

"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual results or events could differ materially from those described in the forward looking statements due to a variety of factors, including those set forth in the Company's filings with the U.S. Securities and Exchange Commission.

Press releases and other Cortecs International Limited information are available on the Cortecs International Limited web site: http://www.cortecs.com.

CONTACT: Dr. Geoffrey Hill

Cortecs Limited

011 44 1244 288 781

or

John Curtis

Cortecs Diagnostics

011 44 1244 288 781

or

Dr. Geoffrey Brandon

Brandon Harris

011 44 171 407 6854

or

John P. Kehoe/Van Negris

Kehoe, White, Savage & Company, Inc.

[phone]

or

Zena Bates/Lisa Baderon

Buchanan Communications

011 44 171 489 1441