Final results expected to be released on July 5, 2005
TSX VENTURE EXCHANGE: AVI -- QUEBEC CITY, June 15, 2005 – Advitech Inc. (TSX-V: AVI) a Canadian biotech company, today announced the completion of the treatment phase of the double-blind, placebo-controlled, randomized clinical trial for XP-828L, its new oral treatment for mild-to-moderate psoriasis. The main objective of this study is to confirm the efficacy and the safety of XP-828L.
In 2004, Advitech conducted a first open-label study on XP-828L for psoriasis, and the results were encouraging. The current study was jointly conducted by Robert Bissonnette, MD, and Yves Poulin, MD, two leading dermatologists who have been involved in several clinical studies for the treatment of psoriasis.
This multi-centre, randomized double-blind, placebo-controlled study was conducted over a 112-day period. The study protocol involved two groups: a placebo group, and a second group, in which the patients received a single dose of XP-828L for 56 days. During the 56 days of the double-blind study, the placebo group was then administered a double dose of XP-828L, while the second group remained on the initial single dose of XP-828L.
“The completion of this study is a milestone for our Company,” stated Renaud Beauchesne, President and CEO of Advitech. “In the next few weeks, we hope to be able to confirm the potential of this unique product and provide psoriasis patients with something they have been asking for years: an effective and safe oral product.”
Psoriasis is an immune-mediated chronic inflammatory disease which affects between 2% and 3% of the world population and more than six million adults in North America alone. All existing systemic therapies for psoriasis have significant side effects that limit their long-term use. Various sources estimate the current market for psoriasis treatment at $1 billion US. Advitech is also conducting in vivo studies for other auto-immune disorders such as Crohn’s disease.
Publication of Final Results
Advitech expects to release the final results on July 5, 2005. The management team will present the results to the investment community and the media through a conference call. This presentation will also be available through live webcast. The exact time of the conference and connection details will be provided later.
Advitech is a biotechnology company specializing in the development of bioactive ingredients from dairy proteins. Its key focus areas are in the fields of immunology and inflammation. Its main platform, XP-828L, is a growth factor complex used as an orally administered product for mild to moderate psoriasis and other immune-mediated chronic inflammatory diseases. Advitech’s common shares are listed on the TSX Venture Exchange under the symbol AVI. The number of common shares outstanding is 54,799,818.
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The reader is cautioned not to rely on these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.