TSX VENTURE EXCHANGE: AVI
QUEBEC CITY, March 11 /CNW Telbec/ - Advitech Inc. ("Advitech" or the
"Company") (TSX Venture Exchange: AVI) announces today the result of a
management's review of the Company's business operations and products pipeline
along with key elements of its strategic plan implemented in order to achieve
both short and long-term success. This plan includes the following
- The Company is confident that the pre-clinical results on its Wound
Healing platform are solid enough to consider implementing a strategic
transfer to the pharmaceutical environment and therefore seek alliances
and partnerships with pharmaceutical companies. With this new
application, the Company will move into the pharmaceutical market in
addition to the nutraceutical market where has been its development
since its inception.
- Additional pre-clinical results will be released in the second quarter
of 2008 and a R&D program specific to this application, including a
phase 1 study, is under final review.
- The Company has initiated a full review of its intellectual property
portfolio in light of this new application.
- Finally, an agreement with a U.S. manufacturer has been achieved for
the production of the core ingredients for the application.
DERMYLEX(R) AND PRODUCTS PORTFOLIO:
- Dermylex(R), the Company's product for mild to moderate psoriasis, will
represent more than 50% of the anticipated 2008 and 2009 revenues. As
was the case for 2006 and 2007, revenues are expected to be
concentrated in the last two quarters of these fiscal years.
- The 2008 revenues are expected to be higher than those of 2007
considering that Dermylex(R) is now available for sale in Canada,
U.S.A., France, Belgium and Taiwan. The product has recently been
approved by the regulatory agency in Indonesia and is under review for
Mexico (which review is expected to be finalized by the end of 2008).
- Discussions are ongoing with partners for additional distribution
agreements which should be concluded in the latter part of 2008. The
focus will be on the U.S. and European markets.
- To achieve the expected revenues, the Company intends to recruit new
senior staff members before the end of the current quarter and increase
sales and marketing expenses. In addition, it intends to leverage the
marketing capabilities of its actual marketing partners and further
expand their existing distribution contracts to include new lines of
products to be launched (Microdermabrasion line and Growth factors
mixes) in the current and subsequent years. The Company intends to
capture new market opportunities generated by Advitech's products
- The Company expects to release its 2007 fiscal year-end results on
April 14th, 2008.
Renaud Beauchesne, President and Chief Executive Officer of Advitech
stated, "Over the past four months, our executive team has completed a
thorough review of our products pipeline and business operations with the goal
of creating a strategy optimized for success. We are very confident to move
Advitech in 2008 from a one product company to a company with a strong
portfolio of products and technologies targeting different applications
related to skin disorders".
About Growth factors:
Growth factors are proteins with multiple functions in the human body.
Growth factors modulate immune responses and cell growth. Some growth factors
are produced in the laboratory and used in biological therapy in extremely
lucrative markets such as inflammatory diseases or skin care. However,
synthetic production of growth factors is extremely expensive, which
represents a major concern for product development.
Through an extensive research program, Advitech has mastered the ability
to produce naturally milk derived growth factors at relatively lower cost than
synthetic growth factors. The ability of Advitech to produce such growth
factors opens up new market opportunities in the nutraceutical and
About Wound Healing:
According to Espicom Business Intelligence Ltd., the global wound care
market totalled $7.2 billion in 2006, with a 10% growth rate. Growth factors
based applications for wound healing represent more than 5% of the market,
with an impressive 27% growth rate.
About Advitech Inc. www.advitech.com:
Advitech is a health sciences and technology company with a mission to
discover and commercialize proprietary and evidence-based natural health
products. Effective and safe, these products play a role in the prevention of
immune-mediated inflammatory disorders, such as psoriasis and inflammatory
bowel disease. Advitech produces Dermylex(R) for the treatment of
Advitech has drawn up a research program to develop new applications
related to wound healing. This development is derived from both its XP-828L
and IM technological platforms.
About Dermylex(R) www.dermylex.com:
Dermylex(R), developed by Advitech, is an oral natural health product
formulated to improve mild-to-moderate psoriasis symptoms. Two clinical
trials, including a 112-day, multi-center, double-blind, placebo-controlled
trial with 84 patients, clinically proved the efficacy and safety of
Dermylex (R) for that type of psoriasis. Dermylex(R) is currently available in
Canada and the U.S. (as BioDerm, Dermalyx(R)), as well as in France and
Belgium (as Psopax(R)).
This press release contains forward-looking statements, which reflect the
Company's current expectations regarding future events. The forward-
looking statements involve risks and uncertainties. Actual results could
differ materially from those projected herein. The TSX Venture Exchange
does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Renaud Beauchesne, MBA, President and Chief
Executive Officer, Advitech Inc., (418) 686-7498, ext. 228, firstname.lastname@example.org;
Serge Comeau, Investor's relations, Advitech Inc., (514) 862-4160,