AMARILLO, Texas, June 16 /PRNewswire/ -- Amarillo Biosciences, Inc.
(Nasdaq: AMAR) today announced an agreement with North China Pharmaceutical
Corporation of Shijiazhuang, China for the development, manufacturing and
marketing of ABI's interferon lozenges for hepatitis B in China. Chronic
hepatitis B is a major cause of morbidity and mortality in China, with an
estimated 50 million cases, many of whom, if not successfully treated, will
progress to cirrhosis and liver cancer.
NCPC is the largest Chinese-owned pharmaceutical company in China, with a
major research and manufacturing facility at Shijiazhuang in Hebei Province.
NCPC has 17,000 employees and a sales force of 700. The company has recently
completed the construction of a $30 million state-of-the-art biopharmaceutical
manufacturing unit.
A major clinical study will commence in August 1999 led by the top
scientists in China, and is expected to lead to governmental approval for
production and market launch late in the year 2000 or early 2001. Clinical
trial approval for the study has already been granted by the Chinese
regulatory authorities.
The agreement includes up-front and landmark payments by NCPC, and a
supply agreement with ABI for the components of the interferon lozenges. NCPC
will manufacture the final dosage form at its facilities in Shijiazhuang.
Weichuan Lu, Chairman of NCPC and Dr. Joseph M. Cummins, President & CEO
of ABI, expressed satisfaction in concluding an agreement on this important
biopharmaceutical product for both companies, and indicated a mutual desire to
proceed to market as expeditiously as possible. "We are eager to work with
NCPC to bring our novel oral therapy to chronic active hepatitis B patients in
China," said Dr. Cummins.
Amarillo Biosciences, founded in 1984, is a world leader in the
development of oral interferon alpha as a treatment for a variety of
conditions including Sjogren's syndrome, fibromyalgia, opportunistic
infections in patients who are HIV positive, hepatitis B and hepatitis C. ABI
has ongoing human clinical protocols for each of these conditions. Low dose
interferon has numerous benefits over high dose injectable interferon,
including fever and milder side effects, greater cost effectiveness and
convenient oral dosing.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties, including uncertainties related to product
development, uncertainties related to the need for regulatory and other
government approvals, dependence on proprietary technology, uncertainty of
market acceptance of oral interferon alpha or the company's other product
candidates and other risks detailed from time to time in the company's filings
with the Securities and Exchange Commission. In particular, see "Item 1.
Description of Business" of the company's Form 10-KSB for the year ended
Dec. 31, 1998."
SOURCE Amarillo Biosciences, Inc.
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http://www.prnewswire.com/comp/118055.html or fax,
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CONTACT:
John M. Smith, Vice President Marketing &
Business Development International of Amarillo Biosciences, Inc.,
806-376-1741 x24, or email, jmsmith@amarbio.com
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