Advitech Inc. ("Advitech" or the "Company") (TSX Venture Exchange: AVI) announces today that it has signed an exclusive collaboration agreement with Laboratories Urgo, one of the European leaders in the wound healing market.
The partnership focuses on the technological platforms IM and XP-828L developed by Advitech, which have demonstrated in in-vitro and in-vivo preclinical studies the dual ability to accelerate the wound healing process and to control the remodelling of collagen. Both partners view these abilities as a unique property when compared to existing products. Additionally, this partnership entails the implementation of a reciprocal collaboration process on current Advitech's research program encompassing the two platforms and the negotiation of a development or a co-development agreement to take place by mid-2009.
Urgo has validated the preclinical results obtained by Advitech, its R&D program on wound healing and the potential of Advitech's platforms to generate commercial applications in the field of wound healing.
"An agreement with a key player such as Urgo in the wound healing area is an important milestone of Advitech's 2008 plan. We are proud of this new step and partnership with Urgo which, we believe, demonstrate the ability of our technological platforms to deliver innovative solutions," commented Mr. Renaud Beauchesne, President and CEO of Advitech.
"Laboratories Urgo is committed to become the European leader in wound healing. Our strategy of partnerships and research and development is oriented towards this goal. The collaboration with Advitech is one of these elements," commented Mr. Pierre Moustial, General Manager at Laboratories Urgo.
ABOUT LABORATORIES URGO: http://www.urgo.fr
Urgo, through its division Urgo Medical, is the leader of wound healing in France and Germany, and No. 4 in Europe. Thanks to its dynamic innovation policy, this French family corporation, family owned, has always demonstrated a strong will to pursue an international development. In 2000, Urgo has revolutionized the market for wound healing by inventing the lipid-Colloids technology. In 2007, Urgo repeated this feat with Cellostart, the first bandage that boosts the wound healing process.
Urgo now offers a wide range of products that meets the expectations of the medical profession to improve the quality of care for the most difficult wounds (burns, ulcers, bedsores). With its introduction into new markets and the continuation of its intensive research and development, Urgo has the ambition to become the European leader in wound healing. In 2007, Urgo has generated revenues in excess of 249 million Euros, nearly half of which is international sales.
ABOUT ADVITECH INC. http://www.advitech.com:
Advitech is a health sciences and technology company with a mission to discover and commercialize proprietary and evidence-based natural health products. Effective and safe, these products play a role in the prevention of immune-mediated inflammatory disorders, such as psoriasis and inflammatory bowel disease. Advitech produces Dermylex® for the treatment of mild-to-moderate psoriasis.
Advitech has drawn up a research program to develop new applications related to wound healing. This development is derived from both its XP-828L and IM technological platforms.
ABOUT WOUND HEALING:
According to Epsicom Business Intelligence Ltd., the global wound care market totalled $7.2 billion in 2006, with a 10% growth rate.