MONTREAL and AHMEDABAD, India, May 10, 2007 (PRIME NEWSWIRE) -- Viropro Inc. (Viropro) (OTCBB:VPRO), and Intas Biopharmaceuticals Limited (IBPL) announced today that the Companies have signed a Memorandum of Understanding (MOU) for the production of an undisclosed therapeutic protein. The MOU offers unique commercial and research collaboration opportunities for the Companies. As a result of this development, Intas Biopharmaceuticals Limited is looking forward to investing equity in Viropro Inc.
Explaining the salient aspects of the MOU, Director, IBPL, Shri Mani Iyer, said, "As part of the MOU, Viropro has developed certain proprietary technologies and sole expertise in a unique molecule dedicated to bio-therapeutic products for which IBPL shall have non exclusive worldwide rights on the finished products and the API (Active Pharmaceutical Ingredient). The Companies are planning to enter a contract to complete pre-clinical and clinical development as well as manufacture and commercially distribute the product. Additionally, IBPL and Viropro desire to evaluate potential areas of collaboration in the future for the development of new molecules."
IBPL will pay Viropro a licensing fee for the development and tech transfer of the manufacturing process. Viropro will receive royalties on IBPL's final product sales. Both companies will be able to out-license the process and will share royalties from third party manufacturers.
Dr Jean-Marie Dupuy, president and CEO of Viropro, said, "The signature of a final contract resulting from this MOU is expected by July 2007. The final contract could provide Viropro with approximate product development revenues of US$ 2.1 million as well as royalties on IBPL sales. We expect to generate revenue in July, 2007 on the signature of the contract. Viropro is very pleased to work with IBPL, a well established biopharmaceutical company that has a proven track record of quickly bringing products to market. This partnership testifies to Viropro's strong intellectual property and process development skills." Development of bio-generics including Cytokines, Hormones, Novel Products, and recombinant blood factors is the priority for IBPL and Viropro. With robust R&D infrastructure, manufacturing facilities, and strong expertise, IBPL has successfully launched several biotechnology products including G-CSF, Erythropoietin, and Interferon. The Companies are constantly exploring novel opportunities for undertaking research initiatives that will lead to expansion of their product portfolios.
About Intas Biopharmaceuticals Ltd.
IBPL is one of the fastest growing bio-pharmaceutical companies in India. As an independent entity of Intas group, the company has carved a niche in the biotechnology sector in the country. The company has fully integrated biopharmaceutical operations with an ultra modern R&D facility and an EU-GMP certified Manufacturing Facility approved to manufacture microbial and cell culture derived bulk drugs and finished products in pre-filled Syringes and vials (Lyophilized).
About Viropro Inc.
Viropro Inc. conducts operations through its subsidiary Viropro International Inc., whose Head Office is located in Montreal, Canada. Viropro is a rapidly expanding biopharmaceutical company specializing in the transfer of its technologies for industrial production of biogeneric therapeutic proteins for the treatment of various diseases including cancer, diabetes, hepatitis or multiple sclerosis. The company's principal objective is to provide manufacturing process technology transfers to pharmaceutical companies in emerging markets with unmet medical needs such as in South America, Asia and Africa. To expand its range of expertise in biopharmaceuticals, Viropro has concluded strategic alliances with various scientific and business partners renowned in national and international spheres. For more information on Viropro Inc., please visit our website at www.viropro.com
Viropro Inc. 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 harbor 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.