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Calypte Biomedical Announces Signing of Sublicense Agreement with
Abbott Laboratories
PLEASANTON, Calif., Aug. 9 /PRNewswire-FirstCall/ -- Calypte Biomedical
Corporation (OTC:CYPT) (BULLETIN BOARD: CYPT) , announced today that it has
signed a sublicense agreement with Abbott Laboratories, Inc. (NYSE:ABT) for
certain worldwide rights to patents relating to the design, manufacture and
sale of lateral-flow rapid diagnostic tests.
Under the terms of the agreement, Calypte was granted certain worldwide rights
to use a family of patents known as the "Guire/Swanson" patents. The technology
underlying these patents is fundamental to all lateral-flow rapid diagnostic
tests.
"We are pleased to have received a license to the Guire/Swanson patents from
Abbott," said Dr. Richard George, CEO of Calypte. "The technology covered by
these patents is critical to the design of lateral-flow rapid tests. We believe
it is one of the essential licenses that will provide us the freedom to
manufacture and sell our emerging HIV rapid diagnostic tests in the U.S. and
around the world."
Included in the major themes of this year's recently completed XV International
AIDS Conference in Bangkok, Thailand were the availability of low cost
anti-retroviral drugs and the focus on efforts to identify those people
infected with HIV more quickly and enroll them in therapy. Calypte plans to
offer a menu of tests providing the HIV testing community with the opportunity
to choose from a complete line of rapid tests that can be used to test urine,
oral fluid, and blood. Initial evaluations of Calypte's rapid tests in Thailand
show that all three tests were successfully proven to be safe, efficacious and
accurate. All three assays are being moved into manufacturing sequentially. The
technology transfer for the blood rapid test to Calypte's Thailand manufacturer
is underway, with the objective of completing first pilot production later this
third quarter.
Current HIV/AIDS Testing
A May 2004 report by the Global Business Coalition on HIV/AIDS (GBC), based on
their own estimates and that of the World Health Organization (WHO), disclosed
that less than 10% of infected individuals in the developing world know their
HIV status. According to the report, new infections are on the rise, and only
400,000 of the 6 million people in need of antiretroviral therapy have access
to these life saving medicines. Testing for HIV serves as an entry point for
both prevention and treatment. The objective of treating 3,000,000 people by
the end of 2005, the stated goal of the WHO "3 by 5" Initiative, would require
that 500,000 people will need to be tested each day.
About Calypte Biomedical:
Calypte Biomedical Corporation, headquartered in Pleasanton, California, is a
public healthcare company dedicated to the development and commercialization of
in vitro diagnostic tests, primarily for the detection of antibodies to Human
Immunodeficiency Virus (HIV), and other sexually transmitted and infectious
diseases. Calypte's currently marketed laboratory-based tests include an enzyme
immunoassay (EIA) HIV-1 antibody screening test and an HIV-1 antibody western
blot supplemental test, the only two FDA-approved HIV-1 antibody tests for use
on urine samples, as well as an FDA-approved serum HIV-1 antibody western blot
supplemental test. Calypte is actively engaged in developing new test products
for the rapid detection of HIV and other infectious diseases. Calypte believes
that there is a significant need for rapid detection of such diseases globally
to control their proliferation, particularly in lesser-developed countries,
which lack the medical infrastructure to support laboratory-based testing.
Calypte believes that testing for HIV and other infectious diseases may make
important contributions to public health.
Statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Securities Act of 1933, as
amended. Those statements include statements regarding the intent, belief or
current expectations of the Company and its management. Such statements reflect
management's current views, are based on certain assumptions and involve risks
and uncertainties. Actual results, events, or performance may differ materially
from the above forward-looking statements due to a number of important factors,
and will be dependent upon a variety of factors, including, but not limited to,
the Company's ability to obtain additional financing, demand for the Company's
products, the Company's success in designing and developing products, the
Company's research and development costs, the length of development and product
acceptance cycles, the amount that the Company invests in new business
opportunities and the timing of those investments, competition, the degree to
which the Company enters into commercial agreements and strategic transactions
and maintains and develops commercial relationships, foreign exchange risks,
world events, international growth and expansion and changes in laws and
regulations. The Company undertakes no obligation to publicly update these
forward-looking statements to reflect events or circumstances that occur after
the date hereof or to reflect any change in the Company's expectations with
regard to these forward-looking statements or the occurrence of unanticipated
events. Factors that may impact the Company's success are more fully disclosed
in the Company's most recent public filings with the U.S. Securities and
Exchange Commission ("SEC"), including its annual report on Form 10-KSB for the
year ended December 31, 2003 and its subsequent filings with the SEC.
Company Contact:
Dr. J. Richard George, President and CEO
Calypte Biomedical Corporation
Telephone: 925-730-7200
Email:
Investor Relations Contact:
Tim Clemensen
Rubenstein Investor Relations
Telephone: 212-843-9337
Email:
DATASOURCE: Calypte Biomedical Corporation
CONTACT: Company - Dr. J. Richard George, President and CEO of Calypte
Biomedical Corporation, +1-925-730-7200, ; Investor
Relations - Tim Clemensen of Rubenstein Investor Relations, +1-212-843-9337,
, for Calypte Biomedical Corporation
Web site: http://www.calypte.com/