QUEBEC CITY, Mar 26, 2008 (Canada NewsWire via COMTEX News Network) --
TSX VENTURE EXCHANGE: AVI
Advitech Inc. ("Advitech" or the "Company") (TSX Venture Exchange: AVI) announces today the hiring of Luc Clouâtre as Vice-president Business Development, Sales and Marketing and and the appointment of Dr Howard Maibach as Scientific Advisor.
Mr. Luc Clouâtre will be responsible for all global commercial activities at Advitech with a strong focus on the U.S. market for existing products (Dermylex(R), Microdermabrasion lines and Growth Factors) and will lead company's growth in new opportunities generated by the Wound Healing platform.
Mr. Luc Clouâtre was from 1998 to 2006 the Chief Executive Officer of Pierre Fabre Group ( U.S operations, Las Vegas Nevada) and until February 2008 the Chief Executive Officer of Cosmedx Science ( Los Angeles, California). He brings more than 20 years of experience in the commercialization of nutraceutical and pharmaceutical products.
"With the addition of Mr. Clouâtre, we now have the resources and depth to increase our sales and rapidly implement strategies and activities to capture new market opportunities linked to our product portfolio. Also we're implementing an aggressive sales and marketing plan on major markets such as the United States and Europe" commented Renaud Beauchesne, President and Chief Executive officer at Advitech.
Advitech has also appointed Dr Howard Maibach as a scientific advisor to the Company. Mr. Maibach has been a Professor in the Deparment of Dermatology since 1973 at University of San Francisco, CA., and is internationally recognized as a leading researcher in psoriasis and wound healing.
Dr. Maibach has been on the editorial boards of over 30 scientific journals and is a member of 19 professional societies including the American Academy of Dermatology, the San Francisco Dermatological Society, and the International Commission on Occupational Health.
About Growth factors:
Growth factors are proteins with multiple functions in the human body. Growth factors modulate immune responses and cell growth. Some growth factors are produced in the laboratory and used in biological therapy in extremely lucrative markets such as inflammatory diseases or skin care. However, synthetic production of growth factors is extremely expensive, which represents a major concern for product development.
Through an extensive research program, Advitech has mastered the ability to produce naturally milk derived growth factors at relatively lower cost than synthetic growth factors. The ability of Advitech to produce such growth factors opens up new market opportunities in the nutraceutical and pharmaceutical markets.
About Wound Healing:
According to Espicom Business Intelligence Ltd., the global wound care market totalled $7.2 billion in 2006, with a 10% growth rate. Growth factors based applications for wound healing represent more than 5% of the market, with an impressive 27% growth rate.
About Dermylex(R) www.dermylex.com:
Dermylex(R), developed by Advitech, is an oral natural health product formulated to improve mild-to-moderate psoriasis symptoms. Two clinical trials, including a 112-day, multi-center, double-blind, placebo-controlled trial with 84 patients, clinically proved the efficacy and safety of Dermylex(R) for that type of psoriasis. Dermylex(R) is currently available in Canada and the U.S. (as BioDerm, Dermalyx(R)), as well as in France and Belgium (as Psopax(R)).
About Advitech Inc. 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(R) for the treatment of mild-to-moderate psoriasis.
Advitech has structured a research program to develop new applications related to wound healing predicated upon both its XP-828L and IM technological platforms.
This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.