Thursday April 15, 7:03 am Eastern Time
Company Press Release
SOURCE: ImmuNis Corp
ImmuNis Corp Growth Strategy Focused on Latin
America Sales of DIAB II
FAIRFIELD, N.J., April 15 /PRNewswire/ -- ImmuNis Corp (OTC Bulletin Board: IMMC - news) reported today that the
key focus for sales growth in 1999 is on the distribution of the Type II Diabetes Drug DIAB II in Latin America.
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 control the formation of glucose. DIAB II reduces insulin resistance and thus
helps to manage the chronically high blood sugar levels that characterize diabetes.
Biotech Holdings announced a seven-year licensing agreement for Brazil with Biobras S.A. the worlds fourth largest insulin
producer, in September of 1998. On March 30, 1999, they followed with the announcement of a licensing agreement for the
distribution of DIAB II with a leading distributor of diabetic drugs in Argentina, Craveri S.A.
As part of the March 30, 1999 announcement Biotech also pointed out 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 and Argentina 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 assessment of the size of
the market in Latin America for DIAB II. Also, the World Health Organization estimates that there are over 26 million Type II
diabetics in the countries of Brazil, Argentina, Peru, Ecuador 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.''
A recent Business Week article highlights the fact that the direct and indirect costs of Diabetes in the United States are
estimated at close to $100 billion annually. These costs are likely to grow as the number of diabetes sufferers is expected to hit
22 million by 2010. The same dynamics are at work throughout Latin America where in many countries, Type II diabetes
effects more than 10% of the population over 40 years old. Business Week quoted Lars Srensen of Novo-Nordisk, a leading
insulin manufacturer, who stated that ''Diabetes is an epidemic.''
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 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 |
