Colostrinin approved for marketing in Turkey
May 04 2010 - 2:00AM
UK Regulatory
TIDMRGT
ReGen's ColostrininTM Approved for Marketing in Turkey
<AIM: RGT>
04/05/2010
ReGen Therapeutics Plc ('ReGen' or the 'Company') announces that its Turkish
licensee Eczacibasi Ilac Pazarlama A.S ('Eczacibasi')1 has received final
approval to market ReGen's nutritional supplement Colostrinin(TM) in the
Republic of Turkey.
This approval now triggers a $50,000 milestone payment to ReGen. Eczacibasi has
placed an order with ReGen for a launch stock of blistered tablets for which
ReGen will receive a fee for the active ingredient component. These will be
packaged locally by Eczacibasi under the brand-name 'Dyna' with product launch
intended in May. Net Revenues to ReGen from Eczacibasi pursuant to the minimum
annual purchase commitments in the distribution agreement are estimated to be
$52,000 in the first year after final approval is obtained, and $104,000 in the
second year. No further details of the launch will be disclosed at this time.
This announcement comes only a week after ReGen reported that Colostrinin(TM) is
expected to be launched in India during the second quarter of 2010. Launch in
these markets are key targets for ReGen as it seeks to achieve sustainable
profitability in 2010.
Colostrinin(TM) is marketed as a nutritional supplement to 'support healthy
brain ageing and cognition in humans'. To date the product is marketed in the
US, Canada and Australia under the brand name CogniSure(TM) 2 , in Cyprus3 and
Poland 4 under the brand name Cognase(TM) and in the UK5 under the brand name
MemoryAid.
1 Eczacibasiwww.eczacibasi.com <http://www.eczacibasi.com/> is a leading
turkish industrials group with 40 companies, approximately 9,300 employees and
revenues of $3.2bn in 2007. Eczacibasi's Ilac Pazarlama A.S. division is based
in Levent-Istanbul, Turkey.
2 Colostrinin(TM) for use as a human nutraceutical is licensed in North America
and Australasia to Metagenics Inc. of San Clemente, Californiawww.metagenics.com
<http://www.metagenics.com/>).
3 Colostrinin(TM) is distributed in the Republic of Cyprus by Golgi
Pharmaceuticals Ltd (www.healthybrainaging.com
<http://www.healthybrainaging.com/>)
4 Colostrinin(TM) is is distributed in Poland by Tagerr Polska an affliate of
Tagerr a professional services and trading company established in Köln, Germany.
(www.cognisure.eu <http://www.cognisure.eu/>)
5 Colostrinin(TM) is distributed in the UK by PRG Nutraceuticals Ltd
(www.memoryaid.com <http://www.memoryaid.com/>)
For further information, please contact:
Percy Lomax
ReGen Therapeutics Plc
Tel: 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish Limited
Tel: 020 7628 3396
David Scott/Nick Bealer
Alexander David Securities Limited
Tel: 020 7448 9820
.
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