Stellar Pharmaceuticals Inc. and InnoGen Ltd. Sign NeoVisc'R' Licensing Agreement for Turkey.LONDON -- Stellar Pharmaceuticals Inc. ("Stellar") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SLXCF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:SLX SLX Student Loan Xpress SLX Smartlet Xml SLX Secure Links SLX Super Luxe ), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today announced that it has signed an exclusive licensing agreement with INNOGEN ILAC ILAC International Laboratory Accreditation Cooperation ILAC International Laboratory Accreditation Conference ILAC Institute for Latin American Concern ILAC In-Line Amplifier Card ILAC International Association of Lactation Consultants SAN. TIC. LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . STI STI systolic time intervals. . ("InnoGen Ltd.") for the sale of NeoVisc(R) in Turkey. NeoVisc is Stellar's proprietary viscosupplementation therapy for the treatment of osteoarthritis ("OA") of the knee. Sales of NeoVisc will not commence until the receipt of all required approvals from Turkish authorities. However, Stellar believes that sales of NeoVisc in Turkey should commence in late 2006, with Stellar recognizing revenues from such sales in Q4 2006. Peter Riehl, President and Chief Executive Officer of Stellar, commented, "Stellar continues to make progress in implementing its international sales partnering strategy. Turkey joins the following list of countries and regions in which NeoVisc is currently licensed: United States, Germany, Latin America, Mexico, the Caribbean, Malaysia, the Middle East, Singapore and Brunei. Viscosupplementation therapy is well established in Turkey, representing a market that is estimated to be in excess of US $12,000,000 per year. NeoVisc has demonstrated comparable efficacy to currently available viscosupplementation therapies in Turkey. About NeoVisc(R) NeoVisc offers patients a drug-free method to treat the pain of OA. Three injections of NeoVisc into the affected joint administered over a three-week period has been shown to provide symptomatic relief of OA pain for an average of 6-12 months. NeoVisc is manufactured using a synthetic hyaluronan, unlike competitors that use hyaluronan extracted from cock's combs. Because it is synthetic, NeoVisc eliminates the adverse reactions experienced with animal-based hyaluronan. About Stellar Pharmaceuticals Inc. Stellar has developed and is marketing direct in Canada and in countries around the world through out-license agreements, three products based on its core polysaccharide technology: NeoVisc(R), for the treatment of osteoarthritis; and Uracyst(R) and the Uracyst(R) Test Kit, its patented technology for the diagnosis and treatment of interstitial cystitis (IC), an inflammatory disease of the urinary bladder wall. Stellar also has in-licensing agreements for Skelite(TM) a proprietary synthetic bone-grafting product and NMP NMP New Millennium Program (NASA) NMP National Military Park (National Park Service) NMP N-Methylpyrrolidone NMP Network Management Protocol NMP Not My Problem 22(R) BladderChek(R), a proteomics-based diagnostic test for the diagnosis and monitoring of bladder cancer which are expected to positively impact sales in 2005. About INNOGEN LTD. InnoGen Ltd. is a full-service, privately-held, Turkish-registered company, with expertise in licensing to market, promoting, distributing, and selling pharmaceutical end products in the territory. InnoGen Ltd. is conscious about the importance of human health and life and in this direction it presents qualified and reliable products to Turkish market. In particular, InnoGen Ltd. seeks to source new and innovative medical and pharmaceutical products and to introduce them to Turkey. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations, to attract and retain qualified professionals, technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; general economic conditions; and other risks detailed time to time in the Company's filings. 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. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Stellar Pharmaceuticals Inc. (TSX VENTURE:SLX) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :SLXCF) |
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