OMRIX Biopharmaceuticals Signs Supply Agreement with Talecris Biotherapeutics, Inc.NEW YORK -- OMRIX Biopharmaceuticals, Inc. ("OMRIX" or the "Company") (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 : OMRI), a commercial-stage biopharmaceutical company that develops and markets biosurgical and antibody-based products, announced today that it has signed a long term supply agreement with Talecris Biotherapeutics, Inc. ("Talecris") for Cryoprecipitate cryoprecipitate /cryo·pre·cip·i·tate/ (-pre-sip´i-tat) any precipitate that results from cooling, sometimes specifically the one rich in coagulation factor VIII obtained from cooling of blood plasma. ("cryo"), a plasma fraction containing coagulation coagulation (kōăg'y  lā`shən), the collecting into a mass of minute particles of a solid dispersed throughout a liquid (a sol), usually followed by the precipitation or proteins. Cryo is the raw material from which Omrix manufactures BAC BAC abbr. blood alcohol concentration , the fibrinogen Fibrinogen The major clot-forming substrate in the blood plasma of vertebrates. Though fibrinogen represents a small fraction of plasma proteins (normal human plasma has a fibrinogen content of 2–4 mg/ml of a total of 70 mg protein/ml), its conversion component of its marketed fibrin sealants and fibrin fibrin: see blood clotting. patch development product. Per the terms of the agreement, OMRIX will commit to certain minimum purchases of cryo and have a right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. to additional supply of cryo, thereby obtaining the necessary amounts to meet its entire BAC production demands. Prior to the supply of cryo by Talecris OMRIX purchased source plasma and through fractionation fractionation /frac·tion·a·tion/ (frak?shun-a´shun) 1. in radiology, division of the total dose of radiation into small doses administered at intervals. 2. obtained cryo. "We are constantly evaluating our business model and exploring alternatives for multiple raw material sources and to increase the cost efficiency of our raw materials," stated Robert Taub, President and Chief Executive Officer. "Our agreement with Talecris for the supply of cryo supports our ongoing decision-making process to purchase either plasma or plasma fractions in order to improve our manufacturing economics." By purchasing cryo in lieu of plasma, OMRIX will reduce its dependence on the availability of plasma and secure the supply of its raw material. BAC contains naturally occurring clotting-related proteins, including fibrinogen, Factor XIII, Factor VIII, fibronectin and van Willebrand factor antigen. About OMRIX Biopharmaceuticals, Inc. OMRIX, a commercial-stage biopharmaceutical company, develops and markets innovative biosurgical and passive immunotherapy products, utilizing its proprietary protein purification technology and manufacturing know-how. As part of its business strategy, OMRIX commercializes certain of its biosurgical products through collaborations with companies whose marketing and sales expertise are a complement to OMRIX's own areas of specialty. OMRIX's novel and easy-to-use biological-device convergence products address unmet medical needs. For more information, please visit: www.omrix.com. About Talecris Biotherapeutics, Inc. Talecris Biotherapeutics, Inc. is a global biotherapeutic and biotechnology company that discovers, develops and produces critical care treatments for people with life-threatening disorders in a variety of therapeutic areas including immunology, pulmonology pul·mo·nol·o·gy n. The branch of medicine that deals with diseases of the respiratory system. pulmonology The study of the lungs and respiratory function , and hemostasis. Talecris, which earned revenues exceeding $1 billion through the year ending June 30, 2006, is headquartered in biotech hub Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C., and employs more than 2,000 people. To learn more about Talecris, please visit www.talecris.com. Safe Harbor Statement This press release contains forward-looking statements. Forward-looking statements provide the company's current expectations or forecasts of future events. Forward-looking statements include statements about the Company's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The company's actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors described in the sections entitled "Risk factors" and "Management's discussion and analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of financial condition and results of operations" in the company's Prospectus as filed with the Securities and Exchange Commission on April 21, 2006. Unless required by law, the company undertakes no obligation to publicly update or revise any forward-looking statement to reflect circumstances or events after the date of this press release. OMRI-G |
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