Adaltis Inc.

Adaltis Inc.

November 05, 2007 12:41 ET

Adaltis Signs Important Cooperation Agreement With the Chinese Medical Doctor Association

MONTREAL, QUEBEC--(Marketwire - Nov. 5, 2007) - Adaltis Inc. (TSX:ADS), a Canadian-based international in vitro diagnostic (IVD) company, is pleased to announce the execution of an important cooperation agreement with the Chinese Medical Doctor Association ('CMDA'), an influential organization closely associated with the Chinese Ministry of Health. This cooperation agreement has been entered into in connection with the Chinese Ministry of Health's intention to automate and improve the safety of laboratory practices in the several thousands of laboratories and health clinics found in the rural areas of China.

The agreement provides that the CMDA and Adaltis will work together with a core objective to support the improvement of clinical diagnostic capabilities and healthcare service levels in Chinese communities, by enhancing the safety and integrity of laboratory results through automation of laboratory practices. Along with CMDA's active support, Adaltis expects to supply its small automated instruments and reagents to community health clinics and laboratories, and will help to train laboratory personnel on good laboratory practices.

Dr. Raymond Tong, Chief Operating Officer of Adaltis said that "this agreement constitutes an important milestone for Adaltis in our mission to become a leading company in the Chinese IVD market. With its more than 2 million members, CMDA is the most influential Chinese medical association in China, and by working jointly with CMDA, Adaltis will have a direct and preferential access to the several thousands of health clinics and laboratories in the rural areas in China in need of improved and automated equipment and services. Adaltis' product offering fits very well with the needs of the clinics and laboratories and provides a tailored solution to those small-sized laboratories and clinics".

Mr. Pierre Larochelle, President and Chief Executive Officer of Adaltis, stated that "Adaltis is proud to be affiliated with a prestigious and far reaching organization such as the CMDA, to help provide Chinese rural communities, with enhanced and safer laboratory solutions. Our products were developed specifically to address the growing needs of the small-sized laboratories in emerging countries, more specifically in China. We are confident that this collaboration will be highly beneficial for all the parties involved".

China Medical Doctor Association

The Chinese Medical Doctor Association (CMDA) is a national, voluntary, not-for-profit, professional association of 2.1 million practicing physicians in China. Representing the collective view of Chinese medical professionals, CMDA is committed to advocating for better public healthcare and providing leadership for the Chinese medical community.

Founded in 2002, CMDA was registered with Ministry of Civil Affairs as a primary-level national association and organized under the Medical Practitioners Act 1999, the most important legal documents regulating the Chinese medical profession. Over the past 5 years, CMDA has become the largest and most influential medical association in China. Managing 26 local associations, 18 subject associations, five specialty committees and 18 medical publications, CMDA has the most powerful voice in the Chinese medical community.

About Adaltis

Adaltis is an international in vitro diagnostic company that develops, manufactures and markets diagnostic systems. It aims to leverage its experience in Europe to become a leading provider of in vitro diagnostic products in emerging markets, with a particular focus on China.
With the assistance of its two strategic shareholders, CITIC Pacific Limited (a large Hong Kong-based conglomerate) and Picchio Pharma Inc. (a joint venture healthcare investment firm owned by FMRC Family Trust (a trust of which Dr. Francesco Bellini is a beneficiary), and Power Technology Investment Corporation, a subsidiary of Power Corporation of Canada), Adaltis has completed building its manufacturing facility in Shanghai. Now operational, the production facility manufactures high-quality products in a low-cost GMP environment, in order to service existing markets in Europe, while providing a platform to penetrate the high-growth Chinese in vitro diagnostic market.

Adaltis is headquartered in Montreal, with offices in China, Hong Kong, Italy, Germany and Mexico.

Caution Concerning Forward-Looking Statements

Certain statements made in this press release, including in particular the impact of the agreement signed with CMDA, both in terms of the future relationship of the parties and the potential for future sales and revenues resulting from this relationship, are forward-looking statements and are subject to important risks, uncertainties and assumptions. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the Company's actual actions or results could differ materially from those expressed or implied in such forward-looking statements. The forward-looking statements contained in this press release represent the expectations of Adaltis Inc. and its subsidiaries as at the date hereof and accordingly are subject to change after such date. However, Adaltis Inc. and its subsidiaries expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

For additional information with respect to the risks and uncertainties and other factors that could cause the results or events predicted in these forward-looking statements to differ materially from actual results or events, please refer to the Annual Information Form of the Company filed with the Canadian securities commissions.

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