Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biotech Holdings -- Ignore unavailable to you. Want to Upgrade?

To: William Whitehead Jr. who wrote (175)	7/29/1999 5:50:00 PM
From: Richard Strutz	Read Replies (1) \| Respond to of 224

Biotech Holdings announced today another distribution agreement in Peru. They will "own" the entire So. American market someday, which by the way has MORE revenue potential than the current domestic US market. Biotech Signs Peru Licensing AgreementFor Distribution of Its Diabetes Drug, DIAB II VANCOUVER, British Columbia, July 29 /PRNewswire/ -- Robert B. Rieveley, President of Biotech Holdings Ltd. ("Biotech") (OTC Bulletin Board: BIOHF), is pleased to announce that Biotech has signed a licensing agreement for the distribution of Biotech's Type II or Adult-Onset Diabetes drug, DIAB II, in Peru. Under the agreement, Biotech has granted marketing and distribution rights to co-licensees Laboratorios Cofana ("Cofana") and to Marfan S.A.C. ("Marfan"). "Cofana and Marfan," Mr. Rieveley said, "are among the most dynamic pharmaceutical companies in Peru. Together they market more than fifty ethical pharmaceuticals, for distribution both in the private sector and through state institutions. Cofana and Marfan," Mr. Rieveley added, "will co-operate with Biotech in the preparation of a registration dossier for DIAB II in Peru." DIAB II, an oral diabetes drug, is an insulin-receptor sensitizer. DIAB II, taken daily, works by improving the patient's ability to utilize insulin, the hormone that controls blood sugar levels. Studies of the drug have shown it to be both effective and safe. DIAB II, which is controlled world-wide by Biotech, has received regulatory approval in China and is sold there as a prescription treatment for Type II Diabetes. Latin America, which according to the World Health Organization has over 20 million diabetics, represents a significant market for DIAB II. Biotech's distribution plan in Latin America was initiated with a licensing agreement for the Brazilian market, signed with Biobras, S.A. in September 1998. In March of this year, Biotech signed a licensing agreement for the Argentine market with Craveri, S.A. In June, Biotech signed an agreement with Elmor, S.A. for registration, marketing and distribution of DIAB II in Venezuela. Discussions with potential licensees in a number of other key Latin American countries are also underway. 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 lead to submitting DIAB II for approval to the U.S. FDA as part of a licensing agreement for North America and Western Europe. Biotech Holdings Ltd. is based in Vancouver, British Columbia and has its laboratory and plant facility in Richmond, B.C. Biotech Holdings trades on the Over the Counter Bulletin Board in the United States and on the Alberta Stock Exchange (Alberta: BIO). For inquiries, contact Austin Rand at Biotech Holdings Ltd. 888-216-1111 (toll-free), 8 a.m. to 5 p.m. Pacific time, or by e-mail at biotech@direct.ca. Please visit Biotech's website at biotechltd.com . This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ for reasons that include but are not limited to political and economic conditions in the countries in which the Company does or intends to do business, regulatory action, product pricing and competitive market conditions. These forward-looking statements represent the Company's judgement at the date of this release and any changes in assumptions or external factors could produce significantly different results. SOURCE Biotech Holdings Ltd. CO: Biotech Holdings Ltd. ST: British Columbia IN: MTC SU: LIC 07/29/99 06:59 EDT prnewswire.com