IRVINE, Calif., April 1, 2004 (PRIMEZONE) -- BioGentech Corp. (OTCBB:BGTH), a pharmaceutical company specializing in over-the-counter anti-allergy medications, announced today that it has recently received the Official Notice of Acceptance from the Australian Government regarding Patent Application Number 24865. The acceptance was issued in the name of BioGentech's wholly owned subsidiary, BioGentec, Inc. and is based on the use of Cyanocobalamin (Vitamin B12) for the treatment of allergic disease. The Company believes that this patent enables them to broaden the protection around its primary development product, Prehistin(tm).
According to the official notice of acceptance by the Australian Government, "The examiner has reported no objections to the application..." and further, "The application and specifications were accepted on February 18, 2004 and a notice of the acceptance will appear in the Official Journal of Patents on April 1, 2004 under the serial number 771728." Third parties will have the opportunity to oppose the application for the next three months, and if there is no opposition, the Deed of Letters Patent will be issued thereafter.
Chaslav Radovich, President of BioGentech, commented, "The issuance of this patent expands our intellectual property and positions us to become the global leader in the preventative treatment of allergies by modulating the level of ImmunoglobulinE (IgE) in the body, reducing the overproduction of histamines in reaction to allergens. The acceptance of our patent application for Australia is a significant milestone, enhancing long-term value growth potential for BioGentech and its shareholders, further validating 16 years of research and development behind our science."
BioGentech has been issued a total of three patents and currently has patent applications pending in Canada, Europe, Japan and Mexico. BioGentech's patents cover the delivery and use of cobalamin for seasonal and year-round allergies (allergic rhinitis) and asthma.
BioGentech's upcoming Phase III FDA Trials will study the effects of Prehistin on approximately 1,000 allergy sufferers across the Untied States. It is estimated that the study will begin enrollment in the summer of 2004 at approximately 25 sites throughout the United States and take place during the peak pollen (ragweed) season. These studies, required to complete the Company's New Drug Application (NDA) with the FDA, will be twin, multi-centered, randomized, double-blind, placebo-controlled trials.
About BioGentech Corp. -- Prehistin(tm)
Headquartered in Irvine, California, BioGentech Corp. is an over-the-counter pharmaceutical company. Its flagship product, Prehistin, designed to prevent the primary cause of airborne allergies, is scheduled for Phase III clinical trials in the summer of 2004 and initial marketing in the U.S. will commence upon final FDA marketing approval. The U.S. anti-allergy medication market was $7.2 billion in 2003 and is expected to exceed $10 billion by 2010. Prior studies have shown that the active ingredient in Prehistin appears to have essentially no risks of adverse effects to the general population, including sedation and drowsiness found in many of the allergy products currently available.
For further information please visit the website at www.biogentec.com.
Safe Harbor
This news release includes statements that are not historical facts and are considered "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect BioGentech Corp's current views about future events. They are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate", "possibility" and similar expressions identifying their forward-looking character. Investors should not rely on these forward-looking statements as assurances of future events, because such statements are inherently subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from the Company's expectations. The factors that may affect the outcome of such expectations include, but are not limited to factors detailed from time to time in the Company's filings with the Securities and Exchange Commission.