Adaltis Inc.
TSX : ADS

Adaltis Inc.

December 21, 2007 14:58 ET

Adaltis Signs Short Term Credit Facility

MONTREAL, QUEBEC--(Marketwire - Dec. 21, 2007) - Adaltis Inc. (TSX:ADS), an international in vitro diagnostic company, announced today that it has entered into a short term credit facility with a Canadian bank. The facility is for an amount of up to $7 million, expires on March 31, 2008 and is guaranteed by certain strategic shareholders of Adaltis.

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.

Contact Information