Readers are referred to the cautionary notes regarding Forward-looking
and risk information at the end of this release
Listed TSX, Symbol: CNJ
TORONTO and WINNIPEG, Sept. 22 /CNW/ - Cangene Corporation today announces that it has finalized two contracts with a non-North American government for a supply of Cangene's vaccinia immune globulin ("VIG") and botulism antitoxin ("BAT"). This is the first sale of the investigational BAT product to a customer other than the United States government; VIG has been sold previously to a number of other government customers. Combined revenue expected from the two contracts currently converts to approximately Cdn$3.3 million and Cangene plans to deliver the products during the current fiscal year.
"Each time we sign a contract with a new customer it increases our visibility as a supplier of these types of products internationally," said Dr. John Langstaff, Cangene's president and CEO. "This sale is part of ongoing efforts to market our biodefence products to new customers, and is especially significant as it is the first time we have sold BAT outside of the United States."
About Vaccinia Immune Globulin Intravenous (Human)
VIG is a hyperimmune product intended for use in treating and preventing certain types of severe complications that may be associated with smallpox vaccination and is considered to be an important component of smallpox vaccination programs.
About botulism and botulism antitoxin
Botulinum toxins are nerve toxins produced by the bacterium Clostridium botulinum that cause a serious paralytic illness known as botulism. Naturally occurring cases are mainly seen in infants or in adults who have consumed improperly processed foods. Botulism can also be used as a bioterrorist weapon and has been identified as one of the highest priority bioterrorism threats. Botulinum toxin was specifically identified as a target for products developed under the U.S. Project BioShield. Cangene's botulism antitoxin is a hyperimmune product whose safety and efficacy are currently being investigated in ongoing clinical studies; it is a heptavalent hyperimmune preparation that contains neutralizing antibodies to the seven different botulinum toxin types.
Hyperimmunes are purified preparations of specific immune globulins isolated from blood plasma. Immune globulins are the class of proteins that function as antibodies. Cangene's proprietary manufacturing process allows it to produce high-quality hyperimmune products aimed at a wide variety of targets. The Company has been manufacturing its WinRho(R) SDF hyperimmune product for nearly 30 years, which has established the manufacturing technology. Most recently, the Company's development efforts have been concentrated on developing products with infectious disease and bioterrorism targets.
About Cangene Corporation
Cangene is one of Canada's largest and earliest biopharmaceutical companies. It was founded in 1984 and is headquartered in Winnipeg, Manitoba. Cangene has approximately 700 employees in eight locations across North America and its products are sold worldwide. It operates three large manufacturing facilities-two in Winnipeg, Manitoba and one in Baltimore, Maryland-where it produces its own products and undertakes contract manufacturing for a number of companies. Cangene operates three U.S. and one Canadian plasma-collection facilities. In addition, it has a regulatory affairs, sales and investor relations office in Toronto, Ontario.
Cangene is focused on developing therapeutics for infectious diseases, and the Company uses patented manufacturing processes to produce plasma-derived and recombinant therapeutic proteins. Cangene has five FDA and/or Health Canada-approved products. In addition, the Company has several more products in development at various stages. Three of Cangene's products have been accepted into the U.S. Strategic National Stockpile-botulism antitoxin, anthrax immune globulin and vaccinia immune globulin, a product used to counteract certain complications that may arise from smallpox vaccination.
Capitalizing on its drug manufacturing expertise, Cangene also operates a significant contract research and manufacturing business using its Winnipeg facilities and the resources of Baltimore, Maryland-based Chesapeake Biological Laboratories, Inc. (a wholly owned subsidiary). Cangene's website, www.cangene.com, includes product and investor information, including past news releases. Chesapeake's website is www.cblinc.com.
"Cangene", "WinRho" and "WinRho SDF" are trademarks belonging to
Forward-looking and risk information
The reader should be aware that Cangene's businesses are subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company's reliance on a small number of customers including government organizations; the demand for new products and the impact of competitive products, service and pricing; availability and cost of raw materials, especially the cost, availability and antibody concentration in plasma; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; costs and possible development delays resulting from use of legal, regulatory or legislative strategies by the Company's competitors; uncertainty related to intellectual property protection and potential costs associated with its defence; the Company's exposure to lawsuits; and other matters beyond control of management. Risks and uncertainties are discussed more extensively in the MD&A section of the Company's most recent annual report and annual information form, which are available on the Company's website or on SEDAR at www.sedar.com.
Scientific information that relates to unapproved products or unapproved uses of products is preliminary and investigative. No conclusions can or should be drawn regarding the safety or efficacy of such products. Only regulatory authorities can determine whether products are safe and effective for the uses being investigated. Healthcare professionals are directed to refer to approved labelling for products and not rely on information presented in news releases, which may not contain all relevant safety information. Drug names and prescribing information may differ in various countries.
The preceding cautionary statements should be considered in connection with all written or oral statements, especially forward-looking statements, that are made by the Company or by persons acting on its behalf and in conjunction with its periodic filings with Securities Commissions, including those contained in the Company's news releases and most recently filed annual information form. Forward-looking statements can be identified by the use of words such as "expects", "plans", "will", "believes", "estimates", "intends", "may", "bodes" and other words of similar meaning (including negative and grammatical variations). Should known or unknown risks or uncertainties materialize, or should management's assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward-looking statements, except as required by applicable law.
SOURCE Cangene Corporation
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