Neptune Technologies & Bioressources Inc. ("Neptune")
(Nasdaq:NEPT) (TSX-V:NTB) provides guidance on its expected sales
results for the fourth quarter and fiscal year ended February 28,
2010, and Acasti Pharma Inc. ("Acasti") announces the addition of a
new member to the Acasti management team.
Neptune Preliminary Sales Result
Neptune expects nutraceutical business revenue for the fourth
quarter ended February 28, 2010 to be in the range of $4,000,000 to
$4,500,000, compared to $3,772,000 for the third quarter ended
February 28, 2009, representing an increase of 6% to 19%.
Nutraceutical business revenue for the fiscal year ended
February 28, 2010 is expected to be in the range of $12,000,000 to
$12,500,000, compared to $11,648,000 for the corresponding
twelve-month period ended February 28, 2009, representing an
increase of 3% to 7%.
"We are very pleased to announce that we expect to be reporting
higher sales figures this year compared to the corresponding
previous year, even though we have been affected for more than four
months by a plant shut down required to increase capacity," stated
André Godin, Vice-President, Administration and Finance of Neptune.
"The plant is currently running at full capacity and we are looking
forward to announcing our plan for further expansion in the
following months," he added.
Acasti Management Team
Dr. Tina Sampalis, President of Acasti, is proud to announce
that Mr. Pierre Lemieux joined Acasti on April 12, as the Chief
Operating Officer ("COO"). He will be involved in the
operation of Acasti and in the different pharmaceutical programs
Acasti is pursuing. Mr. Lemieux holds a post-doctoral degree
in Oncology from the Health Science Center, University of Texas,
USA, and a PhD in biochemistry from Laval University, Canada,
jointly with the University of Nottingham, England.
"In addition to his pharmaceutical development experience, Mr.
Lemieux's extensive experience and knowledge of Medical Food ("MF")
and Over the Counter ("OTC") development and markets, which he
acquired at his previous employer BiolActis as the Chief Executive
Officer, will be a great asset to Acasti. His broad
understanding of the development of MF and OTC products from
inception to the commercialization will be a tremendous value added
to our team," stated Dr. Tina Sampalis.
Mr. Lemieux has been granted 50,000 incentive stock options of
Neptune, exercisable at $2.50 and expiring in 3 years, 250,000
incentive rights on warrants of Acasti, with an aggregate exercise
price of $0.50, expiring on October 8, 2013 and 200,000 incentive
rights on warrants of NeuroBioPharm, with an aggregate exercise
price of $0.25 expiring on October 15, 2013. The options and
warrants granted to Mr. Lemieux will vest gradually over time and
are and may be subject to approval by the board of directors,
regulatory authorities and shareholders.
About Neptune Technologies & Bioressources Inc.
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing
consumer health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The
Company sponsors clinical trials aimed to demonstrate its product
health benefits and to obtain regulatory approval for label health
claims. Neptune is continuously expanding its intellectual
property portfolio as well as clinical studies and regulatory
approvals. Neptune's products are marketed and distributed in
over 20 countries worldwide.
About Acasti Pharma Inc.
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the
major component of cell membranes and are essential for all vital
cell processes. They are one of the principal constituents of
High Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti
Pharma's proprietary novel phospholipids carry and functionalize
the polyunsaturated omega-3 fatty acids EPA and DHA, which have
been shown to have substantial health benefits and which are
stabilized by potent antioxidants. Acasti Pharma is focusing
initially on treatments for chronic cardiovascular conditions
within the over-the-counter, medical food and prescription drug
markets.
About NeuroBioPharm Inc.
NeuroBioPharm is pursuing pharmaceutical neurological
applications, and a clinical study for a medical food product with
a multinational partner is already initiated. The development of a
prescription drug candidate is currently in progress. Advanced
clinical development and commercialization is planned to be carried
out with multinational partners.
"Neither NASDAQ nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of the Company to be materially different from
historical results or from any future results expressed or
implied by such forward-looking statements. In addition to
statements which explicitly describe such risks and uncertainties,
readers are urged to consider statements labeled with the
terms "believes," "belief," "expects," "intends," "anticipates,"
"will," or "plans" to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described
from time to time in the Company's reports filed with the
Securities and Exchange Commission and the Canadian
securities commissions.
CONTACT: Neptune Technologies & Bioressources Inc.
Andre Godin, V.P. Administration and Finance
+1 450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
Acasti Pharma Inc.
Dr. Tina Sampalis, President
+1 450.686.4555
t.sampalis@acastipharma.com
www.acastipharma.com
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