MONTREAL, April 11, 2006 (PRIMEZONE) -- Today, Jean-Marie Dupuy, Chief Executive Officer of Viropro Inc., -- "Viropro" or "the company" (OTCBB:VPRO) -- is proud to announce the signing of a new exclusive licensing agreement with the Japanese firm Immuno Japan Inc., thus reinforcing the existing agreement signed between the two parties in November 2004. This licensing agreement gives Viropro exclusive worldwide marketing rights (except for Japan) for patented new therapeutic proteins.
With this important agreement Viropro expands its base of patented and exclusive technology designed for biopharmaceutical manufacturing at industrial scale based on a protein expression system in mammalian cells. The company also possesses a diversified portfolio of cellular lines that enable the production of biopharmaceutical Interferon Alpha, Interferon Beta, Erythropoietin and growth factors such as G-CSF. These therapeutic proteins are used to treat diseases such as cancer, hepatitis and multiple sclerosis.
By 2010, the world market for therapeutic proteins will represent more than 70% of products registered with the Food and Drug Administration (FDA) with sales reaching more than 50 billion American dollars. The portion of original biotherapeutics, and in particular generics, is growing quickly. The biopharmaceutical market represents over 50 billion U.S. dollars, Interferon Alpha products sell for well over 4.0 billion U.S. annually, over $ 1.5 billion for Interferon Beta, $7.1 billion U.S. for Erythropoietin and $2.0 billion U.S. for G-CSF.
In exchange for receiving this exclusive license, Viropro will pay a sum of U.S. $1,050,000 in the form of 3,500,000 shares. This agreement has been reached with a view to preserving the company's liquidity, thereby ensuring the business development outlined in its strategic objectives.
"Bolstered by a portfolio of high-performance and exclusive products, Viropro is in an excellent position to develop new niche markets overlooked by larger multinational firms as well as maximize its potential for partnership agreements in South America, Asia and Africa and to materialize technology transfer projects that will generate both short- and medium-long term revenues," said Dr. Jean-Marie Dupuy. "In the near future Viropro will, according to the terms of this agreement, have access to new therapeutic molecules developed by Immuno Japan Inc. along with an accord for increased scientific and technological collaboration between the two parties," concluded Dr. Dupuy.
Dr. Tetsuo Nakamura, President of Immuno Japan Inc., has wide ranging business experience relating to the pharmaceutical and biotechnology fields. In addition to holding numerous patents, Dr. Nakamura founded and, for the past 25 years, operated the Institute of Immunology Co. Ltd. specialized in the manufacture of biological reagents (antibodies, proteins) and is a leader in this field in Japan. Dr. Nakamura has also been actively involved in many private and public corporations in Japan, the United States and Canada.
"Immuno Japan Inc. has a reputation for developing superior quality biopharmaceuticals products as well as innovative technological platforms -- notably for the development of biopharmaceuticals such as monoclonal antibodies," stated Dr. Tetsuo Nakamura. "We are happy about this partnership with Viropro and want to strengthen it even more at the technological and scientific levels."
About Viropro Inc.
Viropro Inc. operates mainly through its subsidiary Viropro International Inc. with its Head Office in Montreal, Canada. Viropro is a company specialized in marketing its know how and expertise in technology transfer for industrial production of therapeutic proteins. Its primary objective is to assist pharmaceutical companies in regions of the globe with unmet medical needs such as South America, Asia and Africa. Viropro develops and sells therapeutic proteins at a competitive price, in order to deepen its expertise. Besides today's announcement, Viropro has concluded other strategic alliances with renowned scientific and business partners, both at the national and international levels. Viropro relies on a business model built to generate short and medium term recurrent revenues while increasing the value of stock for both the company and its shareholders.
For more information on Viropro Inc., please visit our website on www.viropro.com
Viropro, Inc.'s Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbour created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements." Forward-looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.