(SYB.) SYNSORB Biotech Inc. Announces Partner for Marketing and
Distribution of SYNSORB Pk in the Netherlands, Belgium and Luxembourg
CALGARY, Alberta, Feb 28, 2000 (BUSINESS WIRE) -- SYNSORB Biotech
Inc.(NASDAQ:SYBB) (TSE:SYB.) SYNSORB Biotech Inc. ("SYNSORB") (TSE:SYB,
NASDAQ:SYBB) today announced that it has signed a marketing and distribution
agreement for SYNSORB Pk(R) in the Benelux countries (the Netherlands, Belgium
and Luxembourg) with Tramedico International BV ("Tramedico"). Tramedico is a
pharmaceutical company based in the Netherlands, with expertise in marketing,
distribution and sale of specialized prescription and non-prescription products
for niche markets.
Under the terms of the agreement, SYNSORB will supply the product and Tramedico
will be responsible for all costs associated with distribution, marketing and
sale of SYNSORB Pk(R) in Benelux. Tramedico will provide SYNSORB with an
undisclosed up-front payment, future milestone payments based on the occurrence
of certain predetermined events and a share of sales revenue.
"We are very pleased to be working with Tramedico in the Benelux," said Dr.
David Cox, President and Chief Executive Officer of SYNSORB. "This alliance
ensures that SYNSORB Pk(R), once approved, will be marketed in these countries
by a company with extensive experience in the sale of specialized products."
"The agreement with SYNSORB to sell SYNSORB Pk(R) in our territory represents a
perfect step forward for us as a pharmaceutical company" stated Harmen de Graaf,
Managing Director of Tramedico. "SYNSORB Pk(R) fits in our strategy and present
product portfolio that is aimed at offering treatments for unmet medical needs"
SYNSORB Pk(R) is designed to prevent serious complications associated with
verotoxigenic E. coli (VTEC) infections, including Hemolytic Uremic Syndrome
(HUS), and is currently undergoing Phase III clinical trials in North and South
America for this indication.
SYNSORB is a Canadian-based pharmaceutical company dedicated to drug development
and manufacturing. The Company has two late-stage products, both of which are
based on SYNSORB's proprietary carbohydrate chemistry platform technology.
SYNSORB Pk(R) is in Phase III clinical trials, and is designed to prevent the
progression to Hemolytic Uremic Syndrome (HUS) in children who have contracted
verotoxigenic E. coli (VTEC) infections, including E. coli O157:H7. SYNSORB
Cd(R) will commence Phase III trials in the first part of 2000, and is designed
to treat recurrent antibiotic-associated diarrhea (CDAD), a common hospital
acquired infection. The USFDA has also awarded Fast Track Product Designation to
SYNSORB Cd(R). SYNSORB has built a cGMP-compliant manufacturing facility that
has the capacity to meet or exceed the expected global demand for the Company's
products. A pipeline of future products is accessible through SYNSORB's
carbohybrid program.
Shares of SYNSORB Biotech Inc. trade on the Toronto Stock Exchange in Canada
(symbol "SYB") and on NASDAQ in the United States (ticker "SYBB").
This release contains certain forward-looking statements which involve known and
unknown risks, delays, uncertainties and other factors not under the Company's
control which may cause actual results, performance or achievements of the
Company to be materially different from the results, performance or expectations
implied by these forward-looking statements. These factors include results of
current or pending clinical trials, actions by the FDA/HPB and those factors
detailed in the Company's registration statement on Form 20 F filed with the
Securities and Exchange Commission.
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