Hemosol (NASDAQ:HMSL)
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Hemosol Announces Initial Sales of Hepalean(R) products to
Organon Canada
- First delivery of products from Hemosol's state-of-the-art manufacturing
facility -
TORONTO, July 14 /PRNewswire-FirstCall/ -- Hemosol Corp.
(NASDAQ:HMSLNASDAQ:TSX:NASDAQ:HML) today announced that the Company has
delivered the first shipment of Hepalean(R) products under its contract with
Organon Canada. The initial order was fulfilled after Hemosol received a
license from Health Canada following the regulatory agency's recent inspection
of the Company's Meadowpine manufacturing facility.
"This is a significant milestone as we continue to enhance our capabilities and
expertise in the development and commercialization of blood-related therapeutic
proteins," said Dirk Alkema, Vice President of Operations, Hemosol Corp. "The
Organon business, along with other contracted revenue and anticipated future
relationships will help us realize our fiscal strategy of generating near term
revenue to offset net operating expenses."
In September 2004 Hemosol signed a multi-year agreement with Organon Canada,
the pharmaceutical division of Akzo Nobel. This agreement, with an initial term
of three years, makes Hemosol the exclusive Canadian manufacturer and supplier
of "Hepalean(R)" products to Organon.
As part of this agreement, Hemosol installed and validated aseptic vial filling
equipment. This investment provides the Company with the capability to fill and
package the Hepalean(R) products for delivery. While currently dedicated to the
filling of Hepalean(R) products, Hemosol also expects to use this filling line
in the future, to package therapeutic plasma protein products for clinical
evaluations, slated to begin in 2006. Additionally Hemosol has sterile bag
filling capability that can be used as a part of its fiscal strategy to
generate near-term revenues to offset its net operating expenses.
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About Hemosol
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Hemosol is an integrated biopharmaceutical developer and manufacturer of
biologics, particularly blood-related protein based therapeutics. The Company
is deploying a novel technology, Plasma Protein Chromatography (PPC), which has
the potential to change the business dynamics of the therapeutic plasma
proteins sector. Hemosol also continues to develop its rich and diverse
therapeutic pipeline that includes three technology platforms - Oxygen
Therapeutics for the treatment of high volume blood loss; Drug Delivery for the
treatment of Hepatitis C and liver cancer; and Cell Therapeutics for the
treatment of chronic myelogenous leukemia and chemotherapy-induced anemia.
For more information visit Hemosol's website at http://www.hemosol.com/.
The Common Shares are listed on the NASDAQ Stock Market under the trading
symbol "HMSL" and on the TSX under the trading symbol "HML".
Certain statements concerning Hemosol's future prospects are "forward- looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and other applicable securities legislation.
There can be no assurances that future results will be achieved, and actual
results could differ materially from forecasts and estimates. Important factors
that could cause actual results to differ materially from forecasts and
estimates include, but are not limited to: Hemosol's ability to successfully
implement the Cascade technology and commercialize products derived from that
technology; Hemosol's ability to obtain additional financing which is critical
to the implementation of the Cascade technology and to Hemosol's continued
viability as a going concern; Hemosol's ability to obtain regulatory approvals
for its products; Hemosol's ability to successfully complete clinical trials
for its products; Hemosol's ability to enter into satisfactory arrangements for
the supply of materials used in its manufacturing operations and the sale of
resulting products to customers; technical, manufacturing or distribution
issues; the competitive environment for Hemosol's products and services; the
degree of market penetration of Hemosol's products; Hemosol's ability to
attract and retain clients for its bio-manufacturing services; the risk that
Hemosol may not become profitable; and other factors set forth in filings with
Canadian securities regulatory authorities and the U.S. Securities and Exchange
Commission. These risks and uncertainties, as well as others, are discussed in
greater detail in the filings of Hemosol with Canadian securities regulatory
authorities and the U.S. Securities and Exchange Commission. Hemosol makes no
commitment to revise or update any forward-looking statements in order to
reflect events or circumstances after the date any such statement is made.
DATASOURCE: Hemosol Corp.
CONTACT: Jason Hogan, Investor & Media Relations, (416) 361-1331,
1-800-789-3419, (416) 815-0080 fax, , http://www.hemosol.com/;
To request a free copy of this organization's annual report, please go to
http://www.newswire.ca/ and click on reports@cnw.