MELVILLE, N.Y., Aug. 6 /PRNewswire/ -- V.I. Technologies, Inc.
(Nasdaq: VITX) announced today that its PLAS+SD (Pooled Plasma, Solvent
Detergent Treated) is the subject of yesterday's agreement between the
American Red Cross and Novation, the foremost group purchasing organization in
health care. The agreement offers all Novation customers greater access to
PLAS+SD.
Irving, Texas-based Novation is the supply company of VHA Inc. (VHA) and
the University HealthSystem Consortium (UHC). Novation represents nearly
2,000 health care organizations nationwide, including some of the nation's
most renowned community hospitals and teaching hospitals.
The new agreement also extends to the 4,200 health care organizations that
purchase supplies through HealthCare Purchasing Partners International, LLC
(HPPI), a company that markets Novation contracts to organizations that do not
belong to VHA or UHC.
This is the first group purchasing agreement the Red Cross has entered
into for PLAS+SD. Through the agreement, which goes into effect on September
1, 1999, Novation and HPPI customers have access to PLAS+SD at a price lower
than the current hospital list price. The two-year agreement includes 2
one-year renewal options.
PLAS+SD is the first virus-inactivated frozen plasma product for
transfusion. The FDA approved PLAS+SD in May 1998 as a safe alternative to
fresh frozen plasma for transfusion.
PLAS+SD is pooled human plasma that has been treated with the solvent
detergent (SD) process. This process reliably inactivates all lipid-enveloped
viruses with which it has been tested, including AIDS, hepatitis C and
hepatitis B by destroying their lipid (fatty) coating. The process has been
used since the late 1980s on plasma derivatives such as intravenous immune
globulin and antihemophilic factor.
To date, millions of units of SD-treated products have been transfused
without a single documented case of lipid-enveloped virus transmission. The
SD process does not affect non-lipid enveloped viruses such as hepatitis A and
parvovirus B19. However, all lots of PLAS+SD are PCR tested as "negative for
HAV nucleic acid" prior to release. This is based on measuring the amount of
HAV genomic material present in the product. A negative result means that the
product has been tested and shown to have not more than an average of 9.4 GE
(genome equivalents) of HAV genomic material per mL.
The Red Cross agreement gives Novation and HPPI customers access to
PLAS+SD through all 37 Red Cross blood regions, Medical Distribution, Inc.
(MDI) and several other select distributors across the country at the contract
price. Additionally, non-Red Cross blood centers will be invited to
participate as authorized distributors of the product under the new agreement.
The American Red Cross is the nation's largest supplier of blood, plasma
and tissue products in the United States. The Red Cross supplies almost half
of the nation's blood supply by working with more than 4.5 million donors and
3,000 hospitals through its national network of 37 blood regions. In
addition, the Red Cross supplies one-quarter of the nation's tissue for
transplantation through its network of 15 tissue centers nationwide.
VITEX is a leading developer and manufacturer of a broad portfolio of
blood products that utilize its patented viral inactivation technologies to
achieve the greatest possible safety in blood products. The technologies are
tailored for all blood component applications and other blood-derived
products, including plasma, plasma derivatives, red blood cells and platelets.
The first of VITEX's virally-inactivated products, PLAS+SD, is the first FDA
approved method for viral inactivation of plasma.
Central to VITEX's strategy are collaborations to accelerate the
commercialization of its products. These include agreements with Bayer
Corporation to supply plasma fractions, the American National Red Cross to
distribute PLAS+SD, United States Surgical Corporation for the development and
distribution of fibrin sealant and Pall Corporation for the development and
distribution of systems for the viral inactivation of red blood cells and
platelets.
Except for the historical information contained herein, the matters
discussed are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties, such as quarterly fluctuations in
operating results, the timely availability of new products, market acceptance
of the company's products, the impacts of competitive products and pricing,
government regulation of the company's products and other risks and
uncertainties set forth in the company's filings with the Securities and
Exchange Commission. These risks and uncertainties could cause actual results
to differ materially from any forward-looking statements made herein.
To receive additional information on V.I. Technologies, Inc., via fax, at
no charge, dial 1-800-PRO-INFO and enter code VITX.
SOURCE V.I. Technologies, Inc.
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CONTACT: John Barr or Debbie Bailey of VITEX, 516-752-7314, ext. 6110, 6185; Alison Ziegler, Brian Gill, or Deanne Eagle of the Financial Relations Board, 212-661-8030
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