CEAPRO INC. - CANDERM PHARMA INC. IS LICENSED TO SELL
LIPSOREX(TM)
Standard & Poors
No. 12G Reg.823486
EDMONTON, June 5 /CNW/ - Ceapro Inc. (''Ceapro'') (ASE: CZO) announced
today that the Company has issued an exclusive license to a Montreal-based
firm, Canderm Pharma Inc., to sell Lipsorex(TM) in Canada with an 8% royalty
payment on sales and rights of first refusal for an American and European
license within four years.
Established in 1972, Canderm, a family-owned and managed company, is
Canada's largest independent skin care company. Canderm specializes in
cosmeceuticals, ethical dermatologicals, and wound care products. Some
products in their line-up include Bain de Soleil, NeoStrata, Condyline,
UltraMOP, Ultraquin, Dermagran II, Epi-Derm, and Omiderm.
The past two years Canderm has been listed in Profit Magazine as one of
Canada's fastest growing companies, with 11 sales representatives and 45
brokers across Canada. Ceapro is pleased to do business with this exceptional
company. Canderm's projections on profitability and sales from Lipsorex are
excellent. Lipsorex has also had its patent approved for the U.S. this year.
Ceapro is a life sciences company engaged in the research, development,
and marketing of products that are primarily oat based. Their current focus
is on medical diagnostics specializing in diabetes type 2, human and animal
dermal care, and marketing international products based on biologically active
oat extracts and natural compounds. Ceapro is based in Edmonton and is listed
on the Alberta Stock Exchange under the trading symbol CZO.
The ASE has neither approved nor disapproved of this release dated June
5, 1998.
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For further information: R.A. (Bob) Binnendyk, President and CEO,
Ceapro Inc., (403) 421-4555, Barry Vogel, President, Canderm Pharma Inc.,
(514) 334-3835, Carol Palmason, Senior Vice President, Pharmaceuticals, Ceapro
Inc., (403) 421-4555 |
