25th Mar 2009 07:00
25th March 2009
ReGen Announces Agreement to Tablet and Package Colostrinin™ in Cyprus
ReGen Therapeutics Plc ('ReGen' or the 'Company') is pleased to announce that it signed yesterday an Agreement with Golgi Pharmaceuticals Ltd, Cyprus ('Golgi') to tablet and package Colostrinin™* in the Republic of Cyprus. It is expected that Golgi will be able to supply European and other nearby markets from this base mainly under the brandname Cognase™.
Commenting on this agreement Percy Lomax, Chairman and Chief Executive Officer of ReGen said :
'Golgi is showing its confidence in Colostrinin™ by undertaking to manufacture it for distribution in Europe and other nearby markets'.
Yiannis Pierides Chief Executive of Golgi said:
'We are delighted to be able to extend our relationship with ReGen to include manufacture in addition to our success in marketing Cognase™'.
To date Colostrinin™ is marketed in the US, Canada and Australia under the brand name CogniSure™* and in Cyprus under the brand name Cognase™ ** as a nutritional supplement to 'support healthy brain aging and cognition in humans'. It is currently being test marketed in Poland under the brand name CogniSure™*** prior to a full launch in that country.
*CogniSure™ is a brand name of Metagenics Inc. of San Clemente, California www.metagenics.com
** Cognase™ is a brand name of Golgi Pharmaceuticals Ltd in the Republic of Cyprus www.healthybrainaging.com
*** Colostrinin™ is being test marketed in Poland by Tagerr www.cognisure.eu
For further information:
Percy Lomax ReGen Therapeutics Plc Tel No 020 7153 4920
Roland Cornish/Felicity Geidt Beaumont Cornish Limited Tel No 020 7628 3396
Nick Bealer/David Scott Alexander David Tel No 020 7448 9820
Notes to Editors:
Colostrinin™ is derived from bovine colostrum, a cow's first milk after birth and is currently produced in S Dakota, freeze dried in Oregon and tabletted and blistered at Metagenics Inc plant in California. Metagenics are the distributors in North America and Australia. If full current production and sales were achieved on North American margins revenue to the Company would be $10 million before relatively low head office expenses. It would be possible, by spending around another $550,000 to bring production facilities up to a level to generate revenue of around $50 million.
Colostrinin™ has been available in the professional channel of the healthcare market in North America and Australia for over a year. Although achieving professional awareness and endorsement was a necessary first step, retail distribution, was always and remains our objective. The first retail launch was in Cyprus in October 2008.
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