London, England ReGen Therapeutics Plc. ('ReGen'), announces that it has today entered into an exclusive licence agreement with Metagenics, Inc. for the commercialisation of ReGen's Colostrinin(TM) as a human nutraceutical in North America(the 'Agreement'). ReGen's shares are traded on the AIM Market of the London Stock Exchange plc (RGT) and are quoted on the Pink Sheets of the United States over-the-counter market in the form of American Depositary Receipts (REGUY:PK).
Headquartered in San Clemente, California, Metagenics is a leading developer, manufacturer and marketer of nutraceuticals, dedicated to researching and evaluating the effects of natural ingredients on genetic expression and protein activity.
The Agreement is conditional on, amongst other things, satisfactory completion of toxicology testing on Colostrinin(TM) and of due diligence by Metagenics on the Colostrinin(TM) manufacturing facilities. Subject to satisfactory completion of the conditions of the Agreement and requisite U.S. regulatory filings, ReGen currently anticipates launch of a human nutraceutical containing Colostrinin(TM)during the first half of 2007.
ReGen produces bulk Colostrinin(TM) in South Dakota and will now work with Metagenics to establish the best commercialisation strategy to introduce Colostrinin(TM) into the North American market. The Agreement provides Metagenics with the exclusive right to market Colostrinin(TM) via healthcare professionals
with an option to extend this exclusivity into the retail channels, such as drugstores and supermarkets. This option is valid for six months after first launch of a human nutraceutical containing Colostrinin(TM) and is subject to Metagenics being able to identify retail partners acceptable to ReGen and the achievement of certain performance criteria.
Percy Lomax, ReGen Executive Chairman and Chief Executive Officer said, 'This agreement with Metagenics is of great significance to ReGen in that it recognises the commercial potential of Colostrinin(TM) in the North American nutraceutical market. After much discussion both parties have decided that the most efficient way to bring this opportunity to fruition is by working together more closely and as an experienced nutraceutical company we see Metagenics as an ideal long-term partner'.
Jeff Katke, Chairman and Chief Executive Officer of Metagenics, added, 'We are very pleased to conclude this exclusive licence agreement with ReGen for the introduction of Colostrinin(TM) in North America. ReGen and Metagenics share a commitment to investment in scientific research in order to set new, higher standards of safety and effectiveness of nutraceuticals. Colostrinin(TM) will be
an important part of our science-based neurological product line, and we believe
it will provide a substantial benefit in maintaining healthy brain function and mental acuity for the ageing patients of over 30,000 healthcare practitioners that we serve in North America.'
About ReGen Therapeutics Plc
ReGen Therapeutics is a UK listed Biotech company which is developing three business lines - human and veterinary nutraceuticals, prescription pharmaceuticals for the treatment of neurodegenerative diseases and a clinical research organisation which oversees Phase I and Phase II both for ReGen and external customers. ReGen's business strategy is to develop its nutraceutical and pharmaceutical products to a state where they can be licensed out and marketed by a third party. Its only direct sales are currently through its clinical research organisation. www.regentherapeutics.com
About Metagenics, Inc.
Metagenics, Inc. is a leading developer, manufacturer and marketer of science-based nutraceuticals and medical foods sold to healthcare practitioners worldwide. The company is headquartered in San Clemente, California. with manufacturing and research facilities located in Gig Harbor, Washington- including its MetaProteomics(R) Nutrigenomics Research Center and its Functional Medicine Research Center(SM) for human clinical research. Metagenics holds multiple proprietary formula patents and produces over 400 research-based products to optimize health. Metagenics demonstrates its commitment to purity and quality through its certifications for Good Manufacturing Practices (GMP) from the National Nutritional Foods Association, NSF International, and the Therapeutic Goods Administration of Australia. www.metagenics.com.