- U.S.-based Navigant Consulting to provide strategic marketing services
- Industry veteran joins to help secure marketing partnerships
QUEBEC CITY, July 13, 2005 – Advitech Inc. (TSX-V: AVI), a Canadian biotech company, today announced two key initiatives aimed at stepping up its marketing program for the Company’s new oral product for treating psoriasis. Last week, the Company announced positive results from a double blind, placebo controlled clinical study demonstrating the efficacy and safety of XP-828L, its oral product for mild-to-moderate psoriasis.
Advitech announced that it has retained the services of Navigant Consulting Inc. ("Navigant"; NYSE: NCI) to help develop and execute its strategic marketing program for XP-828L. Navigant, a U.S.-based consulting firm with specialized services in the biotech and health care sectors, just completed a major study of the U.S. psoriasis market. Advitech will benefit from Navigant’s in-depth expertise of the U.S. dermatology market to position XP-828L as a successful opportunity for its future business partners.
Advitech also announced today that Pierre Mailloux, an executive with more than twenty years of experience in the pharmaceutical industry, will assist in carrying out the marketing alliance program. Mailloux, who worked previously for Schering Plough, Eli Lilly, Wyeth and more recently with Pierre Fabre Medicament, will provide Advitech with his extensive experience in U.S. and international business development activities. His role will be to help Advitech in identifying potential marketing partners and negotiating distribution agreements.
Renaud Beauchesne, President and CEO of Advitech, declared: “Last week, our company reached an important scientific milestone with the results of our clinical study. Since then, we have received numerous positive comments, both from psoriasis patients and dermatologists, which confirm the unmet demand for a safe and oral product like XP-828L. This week, we are taking major steps toward our objective of bringing our psoriasis product to market. Both Pierre Mailloux and Navigant will help in achieving this objective. ”
Dan Aguiar, Managing Director of Navigant Consulting, stated: “Navigant Consulting is pleased to assist Advitech in developing and executing its strategic marketing program for XP-828L. There is a tremendous patient need and market opportunity for safe and efficacious psoriasis treatments. Navigant Consulting's extensive experience in both product commercialization and dermatology uniquely positions us to assist Advitech. ”
Detailed Study Results
Detailed results of the XP-828L clinical study are available on Advitech’s Website at the following address: www.advitech.com/en/index.php
Psoriasis is an immune system disorder that affects between 2% and 3% of the global population and more than six million adults in North America alone. There is no effective long-term therapy for this chronic disease. All existing therapies have significant side effects that limit their long-term use. In a survey conducted in 2002 by the U.S. National Psoriasis Foundation, 78% of all respondents indicated that they were not using the more aggressive therapies because of their potential side effects. The market for psoriasis treatments is currently estimated by various sources at US $1 billion.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE: NCI) is a specialized independent consulting firm providing strategic marketing, operational, financial, regulatory, and dispute resolution advisory services to companies and government agencies. The Company focuses on industries undergoing substantial regulatory or structural change including health care, energy, financial and insurance services and on the issues driving these transformations. Within Navigant Consulting Inc.'s health care practice, the Life Science Group specializes in strategy consulting for pharmaceutical, biotechnology, medical device and diagnostic companies. Life Science strategy consulting services include corporate and franchise strategic planning, product launch strategies and performance measurement, life cycle planning, new product planning, marketing strategies and optimization, managed market advisory services, pricing and reimbursement advisory services, mergers and acquisition analyses, and strategic partnering.
XP-828L is a patented growth factor complex used as an orally administered product for mild-to-moderate psoriasis.
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. 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.
For further information, please contact:
Michel Lamontagne, MBA
Vice-President and Chief Financial Officer
(418) 686-7498, ext. 237