QUEBEC CITY, QUEBEC--(CCNMatthews - Sept. 20, 2004) - Renaud Beauchesne, President and Chief Executive Officer of Advitech (TSX-V: AVI), announced today the appointment of Mr. Jean-Luc Martre as Vice-President, Sales and Marketing. The appointment took effect September 13, 2004. Just prior to joining Advitech, Mr. Martre was Director, Sales & Marketing, at Shire Biologics formerly BioChem Vaccines. Advitech is a Canadian biotech company currently involved in developing a new oral treatment for psoriasis for which it has just received positive results without undesirable side effects after 16 weeks of a clinical trial.
"We are very pleased that Mr. Martre has agreed to join our senior management team," said Renaud Beauchesne. "Mr. Martre has over 20 years of sales management experience with leading pharmaceutical companies. He brings both a solid knowledge of our industry and an excellent sales track record which will be very valuable for us as we approach the launch of our psoriasis product in 2006."
In his six years at Shire Biologics, Mr. Martre was responsible for the management of sales, marketing and customer services, including distribution, in Canada, the US and other international markets. His functions included, as well, the recruiting of distributors for international markets. There he acquired a solid understanding of regulatory affairs both nationally and internationally and led multi-functional task forces involving production, quality assurance and logistics. Mr. Martre's experience covers the sale of vaccines in both the public and private sectors including government supplies and services departments as well as NGO's and hospitals, wholesalers and drugstores. He successfully launched products in Canada, the Philippines, Argentina and the USA.
Prior to joining BioChem Vaccines, Mr. Martre served for five years as Sales Manager for GlaxoWelcome in Canada with responsibility for products in the fields of respiratory disease, neurology, antibiotics, infectiology and gastrointestinal diseases both at the specialist and general physicians level and to pharmacists. From 1984 to 1992, Mr. Martre was employed by Ciba Geigy in various and increasingly responsible sales and management positions including over the counter (OTC) products, National Customer Service Manager for Canada and Acting General Manager for the Toledo Division in Canada. He began his career in pharmaceutical sales with Lederle/Cyanamid in Canada for prescription and OTC products such as dermatology products, both topical and systemic agents as well as food supplements such as vitamins and other specialty products.
Pursuant to the company's stock option plan, M. Martre has been granted a total of 300,000 stock options. These options have an exercise price of $0.22 per share and are valid for a period of five (5) years. The grant of options is subject to regulatory approval.
Advitech specializes in the development of bioactive products derived from milk 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.
Psoriasis affects between 2-3% of the global population and more than 6 million adults in North America alone. Advitech has 15 employees, with more than half of them engaged in research and development activities at its facility at Universite Laval in Quebec City.
Advitech's common shares are listed on the TSX Venture Exchange under the symbol AVI. The number of common shares outstanding is 54,723,627.
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.