MONTREAL, QUEBEC, Mar 10, 2006 (CCNMatthews via COMTEX) -- Advitech Inc. (CA:AVI: news, chart, profile) today announced it has reached an agreement with Jamieson Laboratories Limited ("Jamieson") to conduct a special product introduction program for Dermylex, its product for the management of mild to moderate psoriasis. Under this program, Jamieson will make available Advitech's newly developed and clinically proven natural product for psoriasis in the Toronto Metropolitan Area and in Quebec City. Jamieson expects that Dermylex will be available in late March 2006 in designated pharmacies and health food stores. More information about this program will be released later in the month.
Advitech and Jamieson have also reached an agreement in principle regarding the marketing and distribution of its psoriasis product Dermylex for all Canadian provinces. This Agreement in principle is subject to a definitive confirmation to be reached between Advitech and Jamieson before June 30, 2006.
Commenting on the Agreement, Jamieson's Director of Marketing Et Bruno said, "We are thrilled about the prospects of this new product and we believe this is an exciting opportunity for us considering Jamieson's decision to provide superior products for the dermatology market. We see this new product endeavour as a way to expand our long-standing relationship with Advitech in the area of science-based, clinically-proven natural products."
Renaud Beauchesne, CEO of Advitech added, "I am very pleased about this Agreement with Jamieson. The Jamieson and Quest brands and organization have an outstanding reputation in Canada and their experience in launching successful products for health-conscious consumers is going to be very important for us. We are also pleased that by teaming up with Jamieson to make Dermylex available in 2006 to the Ontario and Quebec market, we will be able to accelerate our marketing strategy for the overall Canadian market."
Established in 1922, Jamieson Laboratories is Canada's largest manufacturer and distributor of advanced natural health-care products. Jamieson's state-of-the-art pharmaceutical manufacturing laboratories are located in Windsor, Ontario and Quest's manufacturing facilities in Vancouver, British Columbia. The company is a world leader in the vitamin and nutrition industry, exporting to over 45 countries including the USA, China, Japan, Hong Kong, Korea and Singapore. For more information, please visit the Jamieson Laboratories Web site at www.jamiesonvitamins.com.
Dermylex(TM) is Advitech's orally administered product for mild to moderate plaque psoriasis. Dermylex(TM) is based on Advitech's XP-828L, a bioactive ingredient with proven clinical efficacy. On July 5, 2005, the Company reported positive results from its Phase II clinical trial of XP-828L for treating mild to moderate psoriasis. The 112-day, multi-center, double blind, placebo-controlled 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 bioactive ingredients from dairy proteins. Its key focus areas are in the fields of immunology and inflammation. Its main platform, XP-828L, is a growth factor complex aimed at treating psoriasis, inflammatory bowel diseases and other chronic immune-mediated inflammatory diseases (I.M.I.D.). Advitech has announced agreements for Dermylex with Cothera S.A for the French market and with PhotoMedex (NASDAQ PHMD) for the U.S market. 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.