Orbus Pharma Inc.
TSX : ORB

Orbus Pharma Inc.

August 10, 2005 16:00 ET

Orbus Signs Co-Development and Supply Agreement

TORONTO, ONTARIO--(CCNMatthews - Aug. 10, 2005) - Orbus Pharma Inc. (TSX:ORB) ("Orbus") today announced that they have entered into a strategic collaboration with Alfred E. Tiefenbacher (GmbH & Co.) ("AET") to co-develop and supply Metoprolol Succinate XR tablets for the European market.

Under the terms of this agreement, the parties will collaborate in the development and regulatory approval of Metoprolol Succinate XR, a once daily, beta-blocker used in the treatment of angina and hypertension. Prior to entering into this arraignment Orbus terminated its co-development agreement with Smartrix Technologies Limited in respect to metoprolol. The delivery system developed by Orbus is unrelated to the Smartrix delivery system and has been developed by Orbus using its in house controlled release technology. Orbus will manufacture the product at its Markham, Ontario plant. AET will assist in the late stage development, registration submission to European regulatory authorities, as well as the supply of raw materials for commercial production.

"I am pleased with this collaboration, which is consistent with our strategy of leveraging our development pipeline, said Jeff Renwick, President and CEO of Orbus. "I am confident that this alliance with Alfred E Tiefenbacher GmbH will lead to the successful launch of metoprolol succinate tablets in Europe."

Global sales in 2004 for the innovator version of the drug were over one billion US dollars.

Alfred E. Tiefenbacher (GmbH & Co.) assists in dossier development, registration submission to European regulatory authorities as well as the supply of raw materials for generic drug production.

Orbus Pharma Inc., listed on The Toronto Stock Exchange under the symbol ORB, pursues a strategy of generating revenue through the licensing of our generic drug developments as well as the manufacturing and selling of pharmaceutical products.

Contact Information

  • Orbus Pharma Inc.
    Jeffrey W. Renwick
    President & Chief Executive Officer
    (905) 943-9444 Ext. 227