Cyplasin Biomedical Ltd., announces Licensing of Cyplasin technology.


    EDMONTON, Feb. 13 /CNW/ - Cyplasin Biomedical Ltd., announced today that
it has completed the granting of a worldwide exclusive license to Bioxen Ltd
for its Cyplasin technology for therapeutic use. Under terms of the license
Bioxen will further develop the Cyplasin protein for use in skin cancer,
melanoma and other potential therapeutic uses.
    Financial terms were not disclosed but the license includes a financial
upfront payment with an option for Bioxen to purchase the Cyplasin IP at some
future date.
    Cyplasin Biomedical Ltd has retained the non therapeutic rights to the
technology and in the event such products are developed Cyplasin will pay a
small single digit royalty to Bioxen Ltd. In the event Bioxen exercises its
option to purchase the Cyplasin IP, Cyplasin will be granted an irrevocable,
fully paid, world wide exclusive, license to all non therapeutic products.

    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. Such forward-looking statements include, among other things:

    -   the completion of the acquisition of all the issued and outstanding
        shares of PTL;

    -   the receipt of director approvals required for the acquisition; and

    -   the satisfactory completion of due diligence reviews by the parties
        to the acquisition.

    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 environment for cancer treatments, 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.

For further information:

For further information: Garth Likes, Cyplasin Biomedical Ltd., Email
Address:, Website URL:

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