QUEBEC CITY, QUEBEC – January 27, 2005 - Advitech (TSX-V: AVI), a Canadian biotech company involved in the development of a new oral treatment for psoriasis, announced today that it has substantially strengthened its intellectual property position. French corporation Pierre Jouan Biotechnology, with whom Advitech concluded a licensing agreement, has been delivered a patent by the French authorities under patent number FR 2827290.
According to the licence, Advitech has the right to use Jouan’s technology in the development of products targeting inflammatory diseases resulting from immune system disorders. Jouan’s patent has also been filed in the United States, Canada and in many other European and Asian countries. These applications are currently pending.
“We are very happy about this news because it confirms the value of the intellectual property surrounding XP-828L, our platform for chronic inflammatory diseases such as psoriasis,” stated Renaud Beauchesne, President and Chief Executive Officer of Advitech. “The granting of this patent, combined with other patents filed recently to protect the XP-828L platform, is an important element in our strategy to enhance the value of our intellectual property portfolio.”
Advitech specializes in the development of bioactive products derived from dairy proteins. Its key focus areas are in the fields of immunology and inflammatory processes. Its main platform, XP-828L, is a bioactive complex used in the development of an oral treatment for psoriasis and other immune system disorders. 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 Company disclaims any obligation to update these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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