Thursday June 10, 7:00 am Eastern Time
Company Press Release
SOURCE: ImmuNis Corp
DIAB II's Sales Growth Strategy Continues to Focus
on Latin America With Third Distribution Contract Being Completed
FAIRFIELD, N.J., June 10 /PRNewswire/ -- ImmuNis Corp (OTC Bulletin Board: IMMC - news) reported today that
Laboratorios Elmor S.A. has signed a licensing agreement for the distribution of DIAB II, in Venezuela. The agreement signed
June 3, 1999, gives Laboratorios Elmor S.A. a seven-year distribution license. This third distribution agreement for Latin
America is in keeping with ImmuNis Corp's pursuit of gaining market share for DIAB II through working with strong local
partners in selected regional markets where Adult Diabetes affects large segments of the population.
DIAB II was developed by Biotech Holdings Ltd., a Canadian-based pharmaceutical company, which controls the worldwide
manufacturing and marketing rights to the drug. ImmuNis purchased a 25% interest in the commercial rights to DIAB II in 1998
for territories outside of Oriental Asia. DIAB II, an oral diabetes drug, is one of a small number in a new class of drugs known
as insulin-sensitizers.
DIAB II is an insulin-receptor sensitizer which alleviates the symptoms of Type II Diabetes by improving the patient's ability to
absorb insulin, whether endogenous or injected. Laboratory and clinical studies indicate that DIAB II is effective and very safe.
DIAB II does not have the pancreas-stressing characteristics of sulfonylurea drugs, widely used for treating Type II Diabetes,
and is free of the liver toxicity that is associated with some insulin-sensitizing drugs.
This newest agreement with Laboratorios Elmor S.A., which has 400 employees and is the largest Venezuelan based
pharmaceutical company, is in addition to those signed for Brazil with Biobras S.A., the world's fourth largest insulin producer,
in September of 1998 and in March 1999 with Craveri S.A., a leading distributor of diabetic drugs in Argentina.
As part of the June 9, 1999 announcement Biotech also pointed out that there is a sizable and very lucrative market potential
for DIAB II in Latin America -- that for each one percent of the diabetic population in Brazil, Argentina and Venezuela using
DIAB II (a total of 100,000 one-year prescriptions) -- DIAB II sales revenues generated would be over $20,000,000
annually.
Mr. Colin Leech Porter, President of ImmuNis stated that, ''Our management agrees with Biotech's step by step strategy of
finding the right distribution partners for Latin America. The World Health Organization estimates that there are over 20 million
Type II diabetics in the countries of Brazil, Argentina, Venezuela, Chile, and Mexico.'' Dr. Leech-Porter added that, ''We also
firmly believe that it is in IMMC's best interests that Biotech establish a strong market presence for DIAB II in Latin America
now while discussions are ongoing to find a distributor for the drug in the U.S.''
ImmuNis Corp. owns interests and invests in innovative health care modalities that address health problems afflicting
populations in both developing countries and Western nations. The Company's interests may be in the form of strategic
partnerships, direct ownership interest in patents, or participation in or control of commercial or marketing rights.
Contact Rich Kaiser at YES International Investor Relations Services, (800) 631-8127.
Included in this release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes the
expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations
reflected in such forward looking statements will prove correct. The Company's actual results could differ materially from those
anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition
trends and other market factors.
SOURCE: ImmuNis Corp
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