SOURCE: Amarillo Biosciences, Inc.
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March 25, 2008 07:00 ET
Amarillo Biosciences Enters Into a License and Supply Agreement With CytoPharm for Low Dose Oral Interferon Use in Animal Diseases in China and Taiwan
CytoPharm to Conduct Animal Clinical Trials and Seek Regulatory Approval for Amarillo Biosciences' Low Dose Oral Interferon
AMARILLO, TX and TAIPEI, TAIWAN--(Marketwire - March 25, 2008) - Amarillo Biosciences, Inc.
(ABI) (OTCBB: AMAR) today announced that it has entered into a license and
supply agreement (Agreement) with CytoPharm, Inc., a Taipei, Taiwan-based
biopharmaceutical company whose parent company is Vita Genomics, Inc., the
largest biotech company and specialty Clinical Research Organization in
Taiwan specializing in pharmacogenomics.
Under the terms of the Agreement, CytoPharm and its subsidiary will conduct
all animal (swine, poultry, cattle) clinical trials and seek regulatory
approvals in both China and Taiwan to launch ABI's low dose oral interferon
for animal diseases. CytoPharm has already commenced clinical studies in
which low doses of interferon are given orally to treat or prevent swine
diseases. According to the Agreement, CytoPharm will make payments to ABI
upon reaching certain milestones and will also pay royalties on low dose
oral interferon sales in the Territory.
"With the fast growing economies and vastly improving animal health care
systems in both China and Taiwan, producers' demands for newer and better
drugs have become much stronger," said Dr. Ellson Chen, Chairman of
CytoPharm, and founder of Vita Genomics. "Blue Ear Disease -- a highly
infectious disease that has swept the Chinese swine population and driven
up pork prices in China -- is a major disease in the region, and
governments are spending billions of dollars and committing vast economic
resources to deal with this deadly disease. This agreement with Amarillo
Biosciences demonstrates CytoPharm's commitment to assist in improving the
health and well-being of China's and Taiwan's animal populations."
Dr. Joseph M. Cummins, President and CEO of ABI, said, "This agreement is
of major significance to ABI because our low dose oral interferon will be
tested in diseases which annually impact livestock worldwide. We are
especially pleased by the professionalism and diligence which CytoPharm has
demonstrated in our dealings to date, and are also pleased that they share
our vision that low dose oral interferon can be a therapeutic agent against
a wide array of animal diseases."
Dr. Stephen T. Chen, President of STC International and an ABI Board member
living in Taiwan, made the introduction of ABI to CytoPharm and was
instrumental in negotiations of the Agreement. "I am very pleased to see
these two fine companies collaborate on the development of low dose oral
interferon. In my estimation, this product will be a huge success in the
Asian marketplace," said Dr. Chen.
About Amarillo Biosciences, Inc.
Amarillo Biosciences, Inc. is a U.S. biotechnology firm operating in global
partnership with the Hayashibara Group, which also holds 11% of Amarillo
Biosciences shares and has provided over $18 million in loans, grants and
equity investments. The Company's primary focus is extensive and ongoing
R&D into the use of low dose, orally administered interferon as a treatment
for a variety of conditions, including Sjogren's syndrome, Behcet's
disease, and opportunistic infections in patients who are HIV positive. In
its 23-year history, the Company has invested nearly $39 million to
establish oral interferon as a therapeutic agent. The majority of those
funds were invested in clinical trials in an effort to achieve FDA approval
for interferon. Additional information is available on the web site at
http://www.amarbio.com/.
About CytoPharm
CytoPharm is a closely held company focusing on the development of
biopharmaceuticals for virus-infected diseases and cancers. It was founded
in 2002 by Ho Tung Chemical, Vita Genomics, and banks and venture capital
firms. Its product pipelines contain a series of cytokines induced by its
proprietary technologies, used for hepatitis, and cancers. Currently, its
product is under clinical trials in China. Both CytoPharm and Vita Genomics
are affiliates of Ho Tung Chemical Inc., one of the largest petrochemical
companies in Taiwan, and a publicly traded company whose 2006 revenues were
approximately NTD 39 billion.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties, including uncertainties related to product
development, uncertainties related to the need for regulatory and other
government approvals, dependence on proprietary technology, uncertainty of
market acceptance of oral interferon or the Company's other product
candidates and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission. In particular, see
"Item 1. Description of Business" of the Company's Form 10-KSB for the year
ended December 31, 2006.