Orbus Pharma Inc.

Orbus Pharma Inc.

June 23, 2005 18:03 ET

Orbus Signs Drug Development and Licensing Agreement

TORONTO, ONTARIO--(CCNMatthews - June 23, 2005) - Orbus Pharma Inc. (TSX:ORB) ("Orbus") today announced the signing of a drug licensing and development agreement with Docpharma NV ("Docpharma") a European pharmaceutical company.

The agreement provides for payments on development milestones of 100,000 Euro plus expenses and a future supply agreement. Docpharma will market the product in Europe, the Middle East and North Africa and Orbus will retain the marketing rights outside of these territories. Orbus will develop and manufacture the product in its Markham plant. The development is expected to be completed within one year with regulatory submission to follow. Marketing approval of the product is expected in 2008.

The agreement with Docpharma gives Orbus a strong partner in the European Union for further licensing opportunities of its generic product dossiers. Generic product dossiers are regulatory documents required by pharmaceutical companies planning to market generic drugs. A dossier details specific analytical and manufacturing technical data conducted on a specific generic product to ensure it meets the requirements of the appropriate regulatory bodies. The process of developing the dossier for submission to the European Health Authorities for the licensed out product is currently underway.

Docpharma is a Belgian based company and a fast growing provider of affordable quality health products, with a presence in the Benelux, France and Italy focused on generic drugs. (www.docpharma.com).

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.

Contact Information

  • Orbus Pharma Inc.
    Jeffrey W. Renwick
    President & CEO
    (905) 943-9444