QUEBEC – February 23, 2006 - Advitech Inc. (TSX-V: AVI) today announced that PhotoMedex Inc. (NASDAQ: PHMD), will pre-launch Dermylex™ in five U.S. areas (San Francisco, CA, Los Angeles, CA, Dallas, TX, New York, NY and Cleveland, OH) during the last week of February 2006.
PhotoMedex will also introduce Dermylex™ at the American Academy of Dermatology (AAD) Conference, the largest dermatology convention in the United States. The Conference will take place in San Francisco from March 2 to March 6 when more than 10,000 dermatologists from around the world will be welcomed.
Commenting on the news, Renaud Beauchesne, Chief Executive Officer of Advitech said: "We are very pleased with the plan that PhotoMedex has put together for the introduction of Dermylex™ to the U.S. market since the day we signed our agreement, January 11, 2006. The pre-launch program and the introduction of Dermylex™ to dermatologists during the AAD
conference will increase product awareness and will probably open new opportunities for Advitech."
Mr. Beauchesne added: "With this pre-launch and the introduction of Dermylex™ at the AAD conference by PhotoMedex, our plan for the U.S. market is rolling out as scheduled." PhotoMedex markets its XTRACâ laser directly to physicians through its sales organization for the treatment of psoriasis. Physicians also use PhotoMedex skincare products to improve healing, following aesthetic procedures such as laser resurfacing, laser hair removal and microdermabrasion, and for daily use to promote healthy skin and reduce hyperpigmentation, fine lines and wrinkles. PhotoMedex recently acquired ProCyte Corporation, a company that develops and markets therapeutic and daily use skincare and procedure-based products to dermatologists.
PhotoMedex is a leader in the development, manufacturing and marketing of medical laser products and services. In addition, as a result of the merger with ProCyte, PhotoMedex now develops and markets products based on its patented, clinically proven Copper Peptide technology for skin health, hair care and wound care. The Company sells directly to
dermatologists, plastic and cosmetic surgeons, spas and salons and through licenses with strategic partners in the consumer market, including a long-term worldwide license agreement with Neutrogena®, a Johnson & Johnson company. ProCyte brands include Neova®, Ti-Silc®, VitalCopper®, Simple Solutions® and AquaSante®.
Dermylex™ is Advitech’s orally administered product for mild to moderate plaque psoriasis. Dermylex™ is based on Advitech’s XP-828L, a bioactive ingredient with proven clinical efficacy. On July 5th, 2005, the Company reported positive results from its Phase II clinical trial of XP-828L for treating mild to moderate psoriasis patients. The 112-day, multi-center, double blind, placebocontrolled study, involving 84 patients, confirmed the efficacy and excellent safety profile of XP-828L for treating mild to moderate psoriasis.
Advitech is a biotechnology company specializing in the development of clinically tested bioactive ingredients for chronic immune-mediated inflammatory diseases (IMID), such as psoriasis and inflammatory bowel 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 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.