Advitech to Present Results on New Treatment For Psoriasis at International Psoriasis Symposium
MONTREAL, QUEBEC – JUNE 9, 2004 - Dupont Capital Inc. (“Dupont”) (TSX Venture: DPN.P) announces today that Advitech Solutions Inc. (“Advitech”) will be presenting the results of its on-going open clinical study of its oral treatment for psoriasis at the 10th International Psoriasis Symposium to be held in Toronto, Canada, on June 10-13, 2004 (www.sdefderm.com).
The presentation will be made on June 12 by Dr. Yves Poulin, the principal investigator of the study. Dr. Poulin is a leading dermatologist who has participated as principal investigator in more than 50 clinical studies on psoriasis.
The objectives of the study are to determine the safety and efficacy of the XP-828L, an oral treatment for psoriasis. The XP-828L is a new compound based on growth factors derived from natural proteins. Growth factors play a significant role in the regulation of the immune system and can be used as the foundation of novel therapies for immune system disorders like psoriasis.
“This important international symposium will be the first opportunity for Advitech to present the results of its open study to the scientific community and we believe it should draw the attention of researchers who are looking for effective but also safe treatments for psoriasis”, stated Renaud Beauchesne, CEO of Advitech. “The XP-828L represents a potential breakthrough in the treatment of psoriasis because of its oral administration and also because of the absence of reported side effects during this study”, a key issue for patients affected by this chronic disorder”.
Psoriasis is a common immune-mediated chronic skin disease that comes in different forms and varying levels of severity. This disease affects between 5 to 6 million adults in the United States, and its prevalence in other countries can reach between 2-3% of the total population. The market for psoriasis treatments in the United States alone is estimated at $US1.0 billion in 2005 according to a research report published in March 2003 by Script Report (“Skin Disorders, New Horizons for Psoriasis Management”, Script Report, March 2003).
About Advitech Solutions Inc.
Advitech is a leader in the area of bioactive peptides derived from milk proteins. Its key focus areas are in the fields of immunology and inflammatory processes. The company has 15 employees, with more than half of its staff engaged in research and development activities at its facility at Université Laval in Quebec City.
On May 17, 2004, Advitech and Dupont signed an amalgamation agreement pursuant to which they will amalgamate their respective companies. The Amalgamation will constitute the Qualifying Transaction for Dupont within the meaning of Policy 2.4 of the TSX Venture Exchange (the “Exchange”). The Amalgamation is subject to the completion of a public offering of securities for a minimum gross proceeds of $3 million before July 15, 2004. Pursuant to an engagement letter signed on March 12, 2004, Desjardins Securities Inc. has agreed to act as agent for the public financing.
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to Exchange acceptance, Dupont shareholder approval, Advitech shareholder approval and completion of the proposed offering before July 15, 2004. The transaction cannot close until the required regulatory approvals pursuant to laws, regulations and applicable policies are obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular that has been mailed in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.