Orbus Pharma Inc.

Orbus Pharma Inc.

December 15, 2006 16:05 ET

Orbus Signs Cefuroxime Axetil Licensing and Supply Agreement

TORONTO, ONTARIO--(CCNMatthews - Dec. 15, 2006) - Orbus Pharma Inc. (TSX:ORB) ("Orbus") today announced the signing of a 5 year non-exclusive licensing and manufacturing agreement with DAA Pharma, a European pharmaceutical company based in Switzerland.

Under terms of the license agreement, DAA PHARMA will distribute the product in Luxemburg, France, Italy and Belgium and pay Orbus a license fee of 60,000 Euros payable in milestone payments up to registration completion which is expected sometime in the first quarter of 2007. Orbus will manufacture the product in its Cambridge plant and supply DAA PHARMA with bulk blisters.

"This agreement provides Orbus with an important opportunity to continue to build our International antibiotic manufacturing business," said Jeff Renwick, CEO of Orbus.

Cefuroxime Axetil is an antibiotic used to treat certain infections such as bronchitis, infections of the ears, throat, sinuses, urinary tract and skin.

Orbus, headquartered in Markham, Ontario, pursues a strategy of generating revenue through the manufacture of off-patent pharmaceuticals, capitalizing on its ability to support the development and commercialization of a range of products at affordable costs. For more information please visit www.orbus.ca.

Forward looking statements

Certain statements in this disclosure are "forward-looking statements", which reflect management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Many factors could cause results to differ materially from the results discussed in the forward-looking statements, including risks related to dependence on key suppliers, economic conditions, competition, regulatory change, foreign exchange rates, and interest rates, among others. Although the forward-looking statements are based on what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements.

Contact Information

  • Orbus Pharma Inc.
    Jeffrey W. Renwick
    President & CEO
    (905) 943-9444 Ext. 227
    Website: www.orbus.ca