Compass Announces Expanded Relationship With PanGen Biotech and Enters $13 Billion Global Laboratory Reagents Market


Making prescription drugs affordable

EDMONTON, Sept. 27, 2011 /CNW/ - Compass Biotechnologies (COBI:OB) is a product-oriented specialty biotechnology company focused on offering products for multi-billion dollar markets.  The company is pleased to announce it has entered into an expanded relationship with PanGen Biotech of South Korea, which will allow Compass to offer a globally marketed comprehensive laboratory reagents product line for sale under the Compass Biotech name. The worldwide laboratory reagents market was estimated to be worth $13.7bn in 2010 and is part of the overall Life Science/In Vitro Diagnostics market currently worth globally $45 Billion per year.

Compass Biotech will initially prepare to offer lab reagents known as cytokines along with various cell growth factors. From SEC filings of leading companies in the cytokine and growth factor area, it is estimated these lab products represent an estimated $350 million market in the EU and USA which has been growing steadily in the 15% range over the last 5 years.

Cytokine and growth factor related revenues account for 20% of the total world biopharma revenues or $80-100 billion. Approximately 50% of growth factor revenues are derived from development of recombinant protein therapies, $15 billion for vaccines, $10 billion for plasma-derived proteins and another $5 billion for biosimiliar forms of existing therapeutic products.

"With Compass focused on developing protein therapeutics, biosimiliar and vaccine products, we felt being able to also offer these important laboratory reagents on a worldwide basis would allow a congruence of our expertise and knowledge base, while allowing us access to faster and nearer term revenue from sales of these reagents and cell culture media supplements" commented Compass CEO Garth Likes.  He further stated, "With PanGen as a partner, we will be able to offer these products at very attractive and competitive price points".

Dr. Jaeseung Yoon, founder and CEO of PanGen noted, "our relationship with Compass is growing, and their expertise in product development outside of our target market areas makes great sense for expanding the markets for PanGen products and technology."


Compass Biotechnologies is a publically-traded specialty biopharmaceutical company (COBI:OB) with headquarters in Edmonton, Alberta. The mission of Compass is to develop new and exciting recombinant biosimiliar and bio-better drug products that can bring revenue generation to the company in a near term fashion with a significant longer-term upside potential. The Company has also entered into the laboratory research reagents market by initially offering cytokine and cell growth research products. Furthermore, Compass owns an exclusive worldwide license from the National Institutes of Health (NIH) and has opportunities to develop products from the vaccine and immunotherapy platform technology or sub-licensees and other interested partners. Compass Biotech also owns a subsidiary company called C-Pharma, Inc.


C-Pharma's technology encompasses the use of recombinant DNA technology to manufacture virus-like particles (VLPs).  These VLPs can be engineered to incorporate various viral and non-viral antigens for use as vaccines against many different types of targets such as hepatitis C.  The recombinant antigens presented in the context of a VLP carrier system are much more immunogenic than the antigen alone, and this carrier is so powerful that the subsequent vaccine may not require the use of an immune adjuvant. C-Pharma is using the technology to develop a hepatitis C vaccine to prevent hepatitis C viral infection. The Company is also pursuing a revenue generation strategy by commercializing generic ribavirin and pegylated alpha interferon, the standard-of-care therapeutic drugs for use in the hepatitis C and hepatitis B markets.


PanGen is a leading biotechnology company based in South Korea in developing animal cell lines (particularly Chinese Hamster Ovary cells) and in production of proteins or antibodies from those cells.   PanGen has developed novel CHO cell expression systems that confer the overall efficiency of manipulation to cut down the conventional time and costs to handle the recombinant gene expression in animal cells.  The combination of the patent pending technologies and well-trained researchers has made PanGen one of the leading companies in CHO cell technology.  PanGen produces proteins or cell lines for industry, academic, and governmental organizations for use in high-throughput screening, in vivo studies, diagnostics, research reagents, and the therapeutic purposes. The company's new manufacturing facility will provide the capacity to manufacture products for Compass and other clients on a contract manufacturing basis.

Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Statements in this current report which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors.  Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive and regulatory environments, stock market conditions, unforeseen technical difficulties and our ongoing ability to operate a business and obtain financing.  These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that our beliefs, plans, expectations and intentions contained in this current report are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.  Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our quarterly reports on Form 10-Q and our other periodic reports filed from time-to-time with the Securities and Exchange Commission pursuant to the Securities Exchange Act.

SOURCE Compass Biotechnologies Inc.

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Interactive Business Alliance LLC
Zachary R. Logan

Profil de l'entreprise

Compass Biotechnologies Inc.

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