EDMONTON, Jan. 13 /CNW/ - Cyplasin Biomedical (CPBM: OTCBB and XYI1:FRA)
is a product-oriented, specialty pharmaceutical company focused on
developing products for the multi-billion dollar hepatitis C virus
market. During 2010 we saw the following events occur:
the securing of a worldwide, exclusive license for a platform vaccine
technology from the National Institutes of Health which has
applications initially for Hepatitis C ; but also has use in other
applications such as cancer, nervous system disorders and obesity. The
licensed platform technology has had approximately $10 million invested
in it prior to the Company securing the license.
the development of an in parallel revenue generation strategy within
the $2 billion /year therapeutic Hepatitis C drug market, encompassing
the generic drugs Ribavirin ( C-Virin) and pegylated alpha interferon
entering into a Letter of Agreement with Minapharm Pharma for potential
co-product development and distribution of Cyplasin's products within
identifying a cGMP manufacturer (Aurobindo) for the active
pharmaceutical ingredient (API) of the C-Virin product and initiating
purchase orders from them for use in QA/QC studies.
Negotiating final terms with a formulation specialty company to make a
C- Virin product line.
identifying and securing C- Virin/C-Pegferon distribution channel
agreements with other distribution/Pharma companies in other
territories for when these products become available within these
Completion of a clinical development plan for the Hepatitis C vaccine
obtaining multiple private placement investments throughout 2010 to
provide the needed resource to execute on the business plan.
obtaining a third party valuation of $122 million for the Company as a
component of an overall corporate financing.
Cyplasin CEO Garth Likes commented, "Similar to other biotech companies
in our space the past year has handed out multiple challenges to be
overcome. We are pleased with our overall product and corporate
development with 2010 being a foundation building year for the
Company. In 2011 we anticipate the next phase execution of our
business plan being to expedite the manufacture of the C-Virin product
line and thus bringing us that much closer to revenue generation and
profitability. Also, our C-Pegferon and vaccine programs will continue
to be developed according to our business plan and so consolidate our
position within the Hepatitis C market. Further as previously
announced, we are anticipating the closing of an equity financing in
the New Year which will greatly help accelerate the execution of these
programs during 2011".
Mr. Likes went on to say "the Company is aware of the continued downward
pressure on the share price. However while the capitalization number
does not currently reflect our value; with the third party valuation
number currently being at $122 million and with there being
approximately just under 20 million shares being issued, plus the other
technologies which can be developed from our technology license, we
believe we will demonstrate during the near, mid and long term
execution of our business plan, that we bring value to our
shareholders. We believe the market will reward us accordingly".
ABOUT CYPLASIN: http://www.c-pharma.net/
Cyplasin Biomedical is a publically-traded specialty pharmaceutical
company (OTCBB:CPBM) with headquarters in Edmonton, Alberta. Cyplasin
has amassed a portfolio of key products for the treatment and
prevention of HCV infection, which affects over 4 million people in the
U.S. and several hundred million people worldwide.
Cyplasin's technology encompasses the use of recombinant DNA technology
to manufacture recombinant cytokines and virus like particles (VLPs).
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. Cyplasin is using the technology to develop a
hepatitis C vaccine (C-Vaxin) to prevent hepatitis C viral infection.
The Company is also pursuing a revenue generation strategy by selling
highly profitable drugs (C-Virin & C-Pegferon) for use in the hepatitis
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 offinancial 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 differfrom those projected in the forward-looking
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 Cyplasin Biomedical Ltd.
For further information:
visit our new website www.c-pharma.net or contact:
Mr. Garth Likes, President/CEO, email@example.com
Ph: (780) 990-4539