Isotechnika hires advisors to advance strategic alternatives

    EDMONTON, Aug. 27 /CNW/ - Isotechnika Inc. announced today that its Board
of Directors has approved the engagement of Leerink Swann LLC and Deloitte to
advise the Company as it pursues available strategic alternatives to enhance
shareholder value. These alternatives will focus on, but not be limited to,
strategic partnership transactions or licensing with regards to the Company's
lead drug, voclosporin. Isotechnika's Management will work through this
process with Leerink Swann LLC as lead financial advisor and with Deloitte as
a strategic consultant.
    "Isotechnika is currently considering a range of options to enhance
shareholder value and allow for the continued development of voclosporin with
the goal of getting the product to market successfully," stated Dr. Robert
Foster, Chairman and Chief Executive Officer of Isotechnika. "We want to
realize the benefit of voclosporin for patients and their physicians as well
as providing a financial return for our investors. Because we have regained
the transplant indication rights we are able to offer a broad range of
indications to interested parties, which is much more attractive than what we
were previously able to offer."
    Isotechnika provides no assurance that the initiation of a process to
explore strategic alternatives will result in a transaction. No decision has
been made to enter into any transaction at this time. The Company does not
currently intend to disclose developments with respect to the exploration of
strategic alternatives unless and until its Board of Directors has approved a
specific transaction.

    About Isotechnika
    Edmonton-based Isotechnika Inc. is an international biopharmaceutical
company focused on the discovery and development of novel immunosuppressive
therapeutics that are designed to offer advantages over other currently
available treatments. There is a significant unmet medical need in the
treatment of both solid organ transplantation and autoimmune disease. It is
estimated that the market potential will exceed $4 billion annually in sales
for calcineurin inhibitors such as voclosporin by 2010.
    Voclosporin is a next generation calcineurin inhibitor, which recently
completed a Phase 2b North American trial for the prevention of kidney
rejection following transplantation. An extension to the Phase 2b trial and a
combined Phase 3 European/Canadian trial for the treatment of moderate to
severe psoriasis are ongoing. Our partner, Lux Biosciences, is currently
conducting three separate Phase 2/3 pivotal trials investigating voclosporin
(referred to as LUVENIQTM by Lux) for the treatment of uveitis. Voclosporin
has also entered First-in-Man trials as the drug utilized in the CINATRA(TM)
Drug Coated Coronary Stent system developed by the Company's partner, Atrium
Medical Corporation.
    Isotechnika Inc. is a publicly traded company on the Toronto Stock
Exchange under the symbol "ISA". More information on Isotechnika can be found
at or

    Forward-Looking Statements
    This press release may contain forward-looking statements. Forward
looking statements, including the Company's belief as to the potential of its
products, the Company's expectations regarding the issuance of additional
patents and the Company's ability to protect its intellectual property,
involve known and unknown risks and uncertainties, which could cause the
Company's actual results to differ materially from those in the forward
looking statements. Such risks and uncertainties include, among others, the
availability of funds and resources to pursue research and development
projects, the ability to economically manufacture its products, the potential
of its products, the success and timely completion of clinical studies and
trials, the Company's ability to successfully commercialize its products, the
ability of the Company to defend its patents from infringement by third
parties, and the risk that the Company's patents may be subsequently shown to
be invalid or infringe the patents of others. Investors should consult the
Company's quarterly and annual filings with the Canadian commissions for
additional information on risks and uncertainties relating to the forward-
looking statements. Investors are cautioned against placing undue reliance on
forward-looking statements.

    %SEDAR: 00010508E

For further information:

For further information: Mr. Clemens Kaiser, Executive Vice President &
Chief Marketing Officer, Isotechnika Inc., Phone: (780) 487-1600 Ext. 295,
Fax: (780) 484-4105, Email:; Mr. Peter Day, Vice
President, Leerink Swann LLC, Phone: (617) 918-4870, Fax: (617) 918-4900,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890