13th Jul 2006 07:01
ReGen Therapeutics PLC13 July 2006 13 July 2006 ReGen Signs First Commercialisation Deal for Colostrinin(TM) with Metagenics, aLeading Nutraceutical Developer and Manufacturer London, England ReGen Therapeutics Plc. ("ReGen"), announces that it has todayentered into an exclusive licence agreement with Metagenics, Inc. for thecommercialisation of ReGen's Colostrinin(TM) as a human nutraceutical in NorthAmerica (the "Agreement"). ReGen's shares are traded on the AIM Market of theLondon Stock Exchange plc (RGT) and are quoted on the Pink Sheets of the UnitedStates over-the-counter market in the form of American Depositary Receipts(REGUY:PK). Headquartered in San Clemente, California, Metagenics is a leading developer,manufacturer and marketer of nutraceuticals, dedicated to researching andevaluating the effects of natural ingredients on genetic expression and proteinactivity. The Agreement is conditional on, amongst other things, satisfactory completionof toxicology testing on Colostrinin(TM) and of due diligence by Metagenics on theColostrinin(TM) manufacturing facilities. Subject to satisfactory completion ofthe conditions of the Agreement and requisite U.S. regulatory filings, ReGencurrently anticipates launch of a human nutraceutical containing Colostrinin(TM)during the first half of 2007. ReGen produces bulk Colostrinin(TM) in South Dakota and will now work withMetagenics to establish the best commercialisation strategy to introduceColostrinin(TM) into the North American market. The Agreement provides Metagenicswith the exclusive right to market Colostrinin(TM) via healthcare professionalswith an option to extend this exclusivity into the retail channels, such asdrugstores and supermarkets. This option is valid for six months after firstlaunch of a human nutraceutical containing Colostrinin(TM) and is subject toMetagenics being able to identify retail partners acceptable to ReGen and theachievement of certain performance criteria. Percy Lomax, ReGen Executive Chairman and Chief Executive Officer said, "Thisagreement with Metagenics is of great significance to ReGen in that itrecognises the commercial potential of Colostrinin(TM) in the North Americannutraceutical market. After much discussion both parties have decided that themost efficient way to bring this opportunity to fruition is by working togethermore closely and as an experienced nutraceutical company we see Metagenics as anideal long-term partner". Jeff Katke, Chairman and Chief Executive Officer of Metagenics, added, "We arevery pleased to conclude this exclusive licence agreement with ReGen for theintroduction of Colostrinin(TM) in North America. ReGen and Metagenics share acommitment to investment in scientific research in order to set new, higherstandards of safety and effectiveness of nutraceuticals. Colostrinin(TM) will bean important part of our science-based neurological product line, and we believeit will provide a substantial benefit in maintaining healthy brain function andmental acuity for the ageing patients of over 30,000 healthcare practitionersthat we serve in North America." Notes to Editors About ReGen Therapeutics Plc ReGen Therapeutics is a UK listed Biotech company which is developing threebusiness lines - human and veterinary nutraceuticals, prescriptionpharmaceuticals for the treatment of neurodegenerative diseases and a clinicalresearch organisation which oversees Phase I and Phase II both for ReGen andexternal customers. ReGen's business strategy is to develop its nutraceuticaland pharmaceutical products to a state where they can be licensed out andmarketed by a third party. Its only direct sales are currently through itsclinical research organisation. www.regentherapeutics.com About Metagenics, Inc. Metagenics, Inc. is a leading developer, manufacturer and marketer ofscience-based nutraceuticals and medical foods sold to healthcare practitionersworldwide. The company is headquartered in San Clemente, California. withmanufacturing and research facilities located in Gig Harbor, Washington-including its MetaProteomics(R) Nutrigenomics Research Center and its FunctionalMedicine Research Center(SM) for human clinical research. Metagenics holdsmultiple proprietary formula patents and produces over 400 research-basedproducts to optimize health. Metagenics demonstrates its commitment to purityand quality through its certifications for Good Manufacturing Practices (GMP)from the National Nutritional Foods Association, NSF International, and theTherapeutic Goods Administration of Australia. www.metagenics.com. Further information: Andrew MarshallGreycoat CommunicationsTel: 020 7960 6007Mobile: 07785 297111 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TILS.L