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| Kibow Biotech, Inc. and Vétoquinol S.A. expand their veterinary licensing and marketing agreement for worldwide applications |
Philadelphia, PA - February 25, 2008 -- Kibow Biotech, Inc. today announced that it has signed an exclusive world-wide licensing and marketing agreement for Kibow Biotics® with Vétoquinol, S.A. (Euronext Paris: VETO), a French company specialized in animal health. In exchange, Kibow has received an upfront license fee and will also receive royalties on worldwide sales of its "Kibow Biotics®" product formulation for veterinary applications. The financial terms of this expanded licensing agreement have been held in strict confidence. U.S. and Canadian marketing and distribution rights were sold to Vétoquinol in June 2006. |
| "We are very pleased to have extended our partnership with Vétoquinol," stated Dr. Natarajan Ranganathan, VP R&D of Kibow Biotech Inc. "Vétoquinol is a recognized leader in the field of animal health as demonstrated by its portfolio of outstanding innovative products, and by its steady growth." |
| "Vétoquinol is happy to expand that collaboration with Kibow Biotech Inc at a worldwide level. This is an outstanding opportunity for us to reinforce our presence in the field of cardio-nephrology, one of our key strategic domains of development. This agreement also allows to set up a still tighter partnership between both companies, already demonstrated by the success of Azodyl™ in USA and Canada," assured Christian Schirvel, Group Director for Business Development of Vétoqunol S.A. |
| The veterinary formulation of Kibow Biotics® is a breakthrough 100% natural microbial (probiotics) patented product formulation for the reduction of azotemia in dogs and cats with renal failure. Already successfully marketed and sold by Vétoquinol in North America and Canada, under the brand name "Azodyl™", Kibow Biotics® has been shown to reduce nitrogenous uremic toxin buildup and thus may help prevent further kidney damage. The result is slower disease progression and a better quality of life as observed by veterinarians and respective pet owners who have opted for the use of "AZODYL™" with their kidney failure cats or dogs. Kibow Biotech believes that a similar application is highly feasible for human chronic kidney failure patients. |
| The United States Food and Drug Administration (US FDA) recognizes probiotics as "Generally Recognized As Safe (GRAS)". However, this classification is for its intended use either for digestive or intestinal applications. Since "Kibow Biotics®" is also intended for human use in uremic or kidney failure conditions, Kibow is currently conducting a multi-site, limited clinical trial for the human formulation. Results are expected in 4Q 2008 so the Company may validate the safety of Kibow Biotics® and provide a self claim premarket "GRAS" certification to US FDA. |
About kidney failure in companion animals
A leading cause of death among geriatric cats and dogs, the term "kidney failure" or "renal failure" refers to persistent azotemia, a build-up of uremic toxins in the blood, usually caused by a loss of nephron function in the kidneys. |
About Kibow Biotics®
Kibow Biotics® is an orally administered patented formulation of specially developed strains of naturally occurring bacteria or microbes which metabolize targeted uremic toxins in the gut and incorporate them as nutrients for growth. Clinical evidence shows that it may reduce bloodstream concentrations of urea, uric acid, creatinine, indoles and phenols, nitrosamines and related uremic metabolites. Kibow also believes that Kibow Biotics® promote maintenance of normal healthy gut flora. |
About Kibow Biotech
Kibow is a ten year-old Philadelphia suburban based biotech company focused on the development of innovative probiotics and prebiotics that help slow disease progression and improve patients’ quality of life.
Kibow has currently developed three types of probiotic products: Kibow Biotics® for chronic kidney failure patients, "Azodyl™", a veterinary formulation of Kibow Biotics®, and Kibow Flora™ for Metabolic Syndrome patients. Kibow Biotics® is in an ongoing, five-country human clinical trial. The veterinary formulation of Kibow Biotics® is marketed in the US and in Canada under the brand name of Azodyl™ by Vétoquinol US. Kibow Flora™ and other Kibow supplements targeting metabolic syndrome are available on-line from Kibow. |
About Vétoquinol S.A.
Vétoquinol is a family-owned but publicly traded European company exclusively dedicated to all aspects of animal health: research, development, manufacturing, marketing and sales. Since 1933, they have been helping veterinarians with their acknowledged expertise in the fields of anti-infectives, pain and inflammation, cardiology, nephrology and nutraceuticals. Based in France, Vétoquinol ranks 12th worldwide and supplies products over the 5 continents with a network of subsidiaries in 18 countries and distributors in over 80. |
For additional information, contact:
Dr. Natarajan Ranganathan
CEO and VP Research and Development
Kibow Biotech, Inc.
4629 West Chester Pike
Newtown Square, PA 19073 USA
Tel: (610) 353 5130
Fax: (610) 353 5110
Email address: info@kibowbiotech.com
Web site: http://www.kibow.com
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Forward-Looking Statement
This press release contains forward-looking statements that reflect management’s current views of future events, including the status of development of the dietary supplement formulation, Kibow Biotics®, for kidney failure applications, and the possible benefits of Kibow Biotics® in slowing the progression of chronic kidney failure or helping patients feel better. Kibow is not a pharmaceutical company. Kibow products are not drugs and may not be considered as a treatment or a therapy. The dietary supplement formulation of Kibow Biotics® will not cure, prevent or mitigate any disease. Actual results may differ significantly from the above forward-looking statements due to a number of factors including but not limited to the possibility that Kibow Biotics® may not prove to be safe or show evidence of clinical activity in the current limited human trials or that data from patients enrolled in the study may not be useful or conclusive or sufficient to guide future development of Kibow Biotics®. Other factors that could cause or contribute to differences in actual results include, but are not limited to, whether or not the Company or any of its collaborators will be able to develop dietary supplements using the technologies of the Company, risks associated with completing clinical trials of product candidates, the possibility that clinical testing may reveal to be undesirable and unintended side effects or other characteristics that may prevent or limit the commercial use of proposed products; whether the cash resources of the Company will be sufficient to fund operations as planned; reliance on key employees, especially senior management; the uncertainty of the Company’s future access to capital; the risk that the Company may not secure or maintain relationships with collaborators, and the Company’s dependence on intellectual property. The Company expressly disclaims any intent or obligation to update these forward-looking statements except as required by law. |
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