NEWS OUT IMMC
ImmuNis Corp.
9 Law Drive, Fairfield, NJ 07004
PRESS RELEASE
DIAB II LICENSING AGREEMENT FOR DISTRIBUTION IN ARGENTINA
TO BENEFIT IMMUNIS
Fairfield, New Jersey - (March 31, 1999) - IMMUNIS CORP (BB: IMMC) announced today that DIAB II, Biotech Holdings Ltd.'s Type II or Adult Diabetes drug,has been licensed to Craveri S.A. for distribution in Argentina. This agreement for Argentina follows a similar agreement for distribution and saleof DIAB II in Brazil. Argentina has the highest per capita income in Latin America and one of the highest per capita drug expenditures in the world.There are approximately two million cases of Type II Diabetes in Argentina,
where the illness affects over 10% of those over 40 years of age. Dr. Colin
Leech Porter, President of ImmuNis stated, “This new agreement should greatly
accelerate the planned introduction of DIAB throughout Latin America.”
Craveri S.A. is well-positioned in the distribution of diabetic drugs in
Argentina. Craveri's goal is to establish DIAB II as the dominant drug for
the treatment of Type II Diabetes in Argentina. Craveri plans to market DIAB
II through its existing channels including sales to drugstores, hospitals and
government agencies, as well as directly to consumers.
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. Traditionally, diabetes has been treated
with medications that either increase production of insulin, the hormone that
controls blood sugar levels, or that controls the formation of glucose. DIAB
II reduces insulin resistance and thus helps to manage the chronically high
blood sugar levels that characterize diabetes.
The announcement made by Biotech on Tuesday, March 30, 1999 also pointed out
there is a sizable and very lucrative market potential for DIAB II in Latin
America. The example was given that for each one percent of the diabetic
population in Brazil and Argentina using DIAB II (a total of 100,000 1-year
prescriptions) DIAB II sales revenues generated would be over $20,000,000 per
year.
The announcement went on to say that Biotech and Craveri will cooperate in the
preparation of a registration dossier for DIAB II in Argentina and assist in
obtaining the support of the medical community throughout Argentina. Craveri
sales representatives regularly call on endocrinologists and general
practitioners with diabetic patients throughout Argentina. Craveri opened a
new pharmaceutical plant in Buenos Aires in 1997 and has 200 employees.
ImmuNis is looking for Biotech to continue to expand the number of markets
were DIAB II will be distributed. Biotech's management has been quoted as
saying, “Biotech will continue to establish its position in selected regional
markets where Adult Diabetes affects large segments of the population by
pursuing a strategy of winning market share through working with strong local
partners. Biotech's business plan for North America and Western Europe is
based on the company's continuing discussions with a number of international
pharmaceutical companies to examine partnering potential. The goal is to
create a relationship that would submit DIAB II for approval to the U.S. FDA
as part of a licensing agreement for North America and Western Europe.”
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.
For more information, contact YES International -
International Investor Relations Services, (757) 631 1094.
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.
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