EDMONTON, June 2 /CNW/ - Cyplasin Biomedical (CPBM: OTCBB and XYI1:FRA) had previously announced the successful negotiation and signing of a binding term sheet agreement for the exclusive sales/marketing and distribution by Minapharm SAE of Cyplasin's vaccine product C-Virin for use with chronically infected Hepatitis C patients within the Middle East and MENA regions.
The signed agreement also includes the right for Cyplasin to distribute and market Minapharm's version of pegylated interferon-alpha (PEG-IFN) within the North American, South American markets as well as Korea, Russia, China and other BRIC countries. The approved pegylated interferon product is currently sold in the Middle East and MENA region by Minapharm.
"While we are excited to have Minapharm as our vaccine partner for the region and as distributor of our Ribavirin, we in turn are extremely pleased to be able to offer their pegylated interferon product to our market as well. Further this event moves up our time table in being able to offer both chronic Hepatitis C standard of care products (Ribavirin and pegylated Interferon alpha) at an accelerated pace which in turn accelerates our revenue generation strategy. Previously the plan had called for the commercialization of Ribavirin first and then at some time later the release of the interferon product; as it was developed by us" stated Garth Likes CEO of Cyplasin. "Now our plans call for the manufacture and registration of the Ribavirin product along with the registration and release of the interferon product as well; which represents a large step forward in the revenue generation strategy of the Company".
According to Data Monitor the interferon market was worth approximately $1.4B in 2008 and Ribavirin was worth approximately $500 million. Revenues captured from this approximate $2 billion a year market will be used by the Company to offset the Hepatitis C vaccine development costs.
ABOUT CYPLASIN: www.c-pharma.net
Cyplasin Biomedical (soon to be called C-Pharma Inc.) is a publically-traded specialty pharmaceutical company (OTCBB:CPBM) with headquarters in Edmonton, Alberta. Cyplasin'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 immune adjuvants. Cyplasin is using the technology to develop a Hepatitis C vaccine to prevent hepatitis C viral infection of liver hepatocytes. The Company is also pursuing a revenue generation strategy by commercializing generic therapeutic drugs for use in the Hepatitis C market.
Forward Looking Statements
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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.
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SOURCE CYPLASIN BIOMEDICAL LTD.
For further information: For further information: Cyplasin Biomedical, Mr. Garth Likes, President/CEO, firstname.lastname@example.org, Ph: (780) 990-4539