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Cyplasin Biomedical Ltd., announces Hepatitis C product licensing deal

2009-10-15 12:48 ET - News Release

CPBM: OTCBB

EDMONTON, Oct. 15 /CNW/ - Cyplasin Biomedical is pleased to announce it has entered into an agreement for a worldwide, exclusive licensing agreement with Arizona-based C-Pharma, Inc. The license gives Cyplasin the rights to the manufacture and commercialization of certain antiviral drugs for the treatment of hepatitis C virus-infected patients. The agreement also licenses the rights for the development of a prophylactic vaccine (called C-Vaxin) for the prevention of chronic hepatitis C disease. While the financial terms of the license have not been disclosed, the agreement calls for standard upfront licensing fees with a low digit royalty. Cyplasin will also fund an R&D contract to develop the C-Vaxin product line.

The antiviral drugs will initially consist of ribavirin in combination with pegylated interferon and with the brand names of C-Virin and C-Pegferon respectively. "We expect to be able to complete the required studies prior to regulatory approval during 2010, with a target of first sales in mid 2011," stated Garth Likes, President and CEO of Cyplasin. He went on to further state, "these two important Hepatitis C therapies are the current standard of care for chronically infected Hepatitis C patients worldwide and will be offered to these patients at generic price points. The market for these two hepatitis C therapies is estimated at over $2 billion per year. As these two products meet their developmental and commercialization milestones, we will look at new product formulations for C- Virin and C-Pegferon as well".

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