Ventana Signs Asian Distribution Deal
September 09 2009 - 9:00AM
Marketwired
Ventana Biotech Inc. ("Ventana") (PINK SHEETS: VNTA), a
biotechnology company developing medicated chewing gums, today
announced that it has signed a deal with GTMC, a Korean
distribution company, for the distribution of Ventana's appetite
suppressant and stress reducing chewing gums.
The deal will see Ventana's products distributed initially to
South Korea and, later, to Japan through GTMC's network of
manufacturing and distribution partners. Under the terms of the
deal, GTMC will negotiate agreements whereby GTMC will cover the
initial costs and, thereafter, manufacturing and distribution costs
will be paid through revenue share agreements.
This arrangement enables Ventana to participate in the lucrative
alternative biotech market without having to provide any of the
upfront costs. In South Korea alone, the import of medical products
has risen approximately 30% per year for the past 5 years. South
Korea is among the top 15 economies in the world and its population
expects a high level of medical care and choice of products.
Medicated chewing gum is on the rise in South Korea and this
agreement positions Ventana to be a leading supplier in an
estimated billion dollar market in 2010.
Ventana's first shipments are expected to be distributed in
South Korea no later than the second quarter of 2010.
About Ventana Biotech Inc
Ventana is positioning itself as the leading bioscience company
in the development and commercial licensure of novel therapeutic
anti-obesity drug treatment. The company leverages cutting-edge
research collaborations to achieve breakthroughs in innovative
anti-obesity treatments, and then licenses these patented drug
product candidates to Big Pharmaceutical and Biotechnology
companies.
FORWARD-LOOKING STATEMENTS:
Statements about Ventana's future expectations and all other
statements in this press release other than historical facts are
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as the term is defined in the Private Litigation
Reform Act of 1995. Ventana's actual results could differ
materially from expected results. Ventana does not undertake any
obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. Should events occur
which materially affect any comments made within this objective;
Ventana will appropriately inform the public.
For more information about Ventana Biotech Inc please contact
investor@ventanabiotech.com
Contacts: Ventana Biotech Inc. Janne Christensen, CEO BCB 1
Bachstrasse Butschwil CH-9606 Switzerland Mobile: +44 7930 732
426
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