Navigation Links
Biopure Gives Update on Malaysia Joint Venture Discussions
Date:8/22/2007

CAMBRIDGE, Mass., Aug. 22 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR) announced today the status of discussions with Malaysia about a possible joint venture. The possibility of such a venture was described by a Malaysian government official to the Malaysian national news agency Bernama in early July.

As indicated in the July statements in Malaysia, Biopure and officials representing public and private interests in Malaysia have been in discussions related to a possible joint venture between the company and a Malaysian entity under the Malaysian Ministry of Science Technology and Innovation.

The Malaysian Ministry has expressed to Biopure its wish to pursue a Hemopure joint venture licensing agreement for Malaysia and certain other countries in Asia upon Biopure's receipt of marketing authorization for Hemopure in the United Kingdom. The investment as discussed, would be well over $100 million. The following broad terms have been discussed:

-- A direct investment in Biopure common stock-up to 19.9% of the company.

-- Licensing rights for Hemopure(R).

-- The funding by Malaysia of a joint venture company to be owned by

Biopure and a Malaysian entity.

-- A large-scale plant for manufacturing Hemopure in Malaysia, at an

estimated cost in excess of $100 million, with government financing.

Many details and final agreements must still be reached between Biopure and Malaysia should the company receive U.K. market approval for Hemopure. Malaysia has conducted business, medical and regulatory due diligence, including diligence in the United States and South Africa.

Biopure continues to believe there is a reasonable chance that Hemopure can be approved for a surgical patient population when blood is not available or an option in the United Kingdom. There is no prescribed time frame for a final decision from the U.K. licensing authority once Biopure makes its submission addressing pending MHRA questions, but four to six months is typical. Biopure expects to meet with the MHRA and make its response in September.

Biopure Corporation

Biopure Corporation develops, manufactures and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body's tissues. Hemopure(R) [hemoglobin glutamer - 250 (bovine)], or HBOC-201, is approved for sale in South Africa for the treatment of surgical patients who are acutely anemic.

Biopure has applied in the United Kingdom for regulatory approval of a proposed orthopedic surgical anemia indication. The company is developing Hemopure for a potential indication in cardiovascular ischemia, in addition to supporting the U.S. Navy's government- funded efforts to develop a potential out-of-hospital trauma indication. Biopure's veterinary product Oxyglobin(R) [hemoglobin glutamer - 200 (bovine)], or HBOC-301, the only oxygen therapeutic approved by the U.S. Food and Drug Administration and the European Commission, is indicated for the treatment of anemia in dogs. Biopure has sold approximately 186,000 units of Oxyglobin, which have been used to treat an estimated 100,000 animals.

Statements in this release that are not strictly historical are forward- looking statements, including those statements regarding possible future discussion of a transaction with involving Malaysia, the terms of any such transaction, and that Hemopure may receive marketing approval in the U.K.. Actual results and their timing may differ materially from those projected in these forward-looking statements due to risks and uncertainties. These risks include, without limitation, uncertainties regarding the company's financial position, unexpected costs and expenses, delays and adverse determinations by regulatory authorities, the company's ability to respond to requests for additional data, unanticipated problems with the product's commercial use, whether or not product related, and delays in or unpredictable outcomes of clinical trials, and the factors identified under the heading "Risk Factors" in the company's quarterly report on Form 10-Q filed on June 14, 2007, which can be accessed in the EDGAR database at the U.S. Securities and Exchange Commission's (SEC) website, http://www.sec.gov. The company undertakes no obligation to release publicly the results of any revisions to these forward- looking statements to reflect events or circumstances arising after the date hereof. A full discussion of the company's operations and financial condition can be found in the company's filings with the SEC.

The content of this release does not necessarily reflect the position or the policy of the U.S. Government or the Department of Defense, and no official endorsement should be inferred.

Contact:

Todd Wood

Biopure Corporation

(617) 234-6576

IR@biopure.com

Herb Lanzet (Investors)

H.L. Lanzet Inc.

(212) 888-4570

lanzet@aol.com


'/>"/>
SOURCE Biopure Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. New gravity-flow column gives faster and simpler purification of histidine-tagged proteins
2. Milwaukee investor gives $10M to business school
3. Microsoft gives software to Milwaukee education non-profit
4. SBC foundation gives Excelerator grants to local nonprofits
5. Report gives nod to controversial Lawson project
6. Thomson gives a blueprint of UWs stem cell research
7. Carl Christensen says Marshfield Clinics history gives it an IT edge
8. Rennebohm foundation gives $15m to UW for medical research
9. Marketing magazine gives Firstlogic CRM award
10. Who Gives a Blog?
11. Pfizer-Pharmacia Fallout Gives Celltech A CEO
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... Plate® YM (Yeast and Mold) microbial test has received AOAC Research Institute approval ... of microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory ...
(Date:6/23/2016)... ... , ... Supplyframe, the Industry Network for electronics hardware design ... Located in Pasadena, Calif., the Design Lab’s mission is to bring together inventors ... and brought to market. , The Design Lab is Supplyframe’s physical representation of ...
(Date:6/23/2016)... 23, 2016  Blueprint Bio, a company dedicated to ... medical community, has closed its Series A funding round, ... "We have received a commitment from Forentis ... need to meet our current goals," stated Matthew ... runway to complete validation on the current projects in ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... regulatory and technical consulting, provides a free webinar on Performing Quality ... 13, 2016 at 12pm CT at no charge. , Incomplete investigations are still ...
Breaking Biology Technology:
(Date:6/9/2016)... 9, 2016 Paris Police ... video security solution to ensure the safety of people and ... during the major tournament Teleste, an international technology ... services, announced today that its video security solution will be ... back up public safety across the country. The system roll-out ...
(Date:6/2/2016)... LONDON , June 2, 2016 ... has awarded the 44 million US Dollar project, ... Security Embossed Vehicle Plates including Personalization, Enrolment, and IT Infrastructure ... world leader in the production and implementation of Identity Management ... in January, however Decatur was selected ...
(Date:6/1/2016)... 1, 2016 Favorable Government Initiatives ... and Criminal Identification to Boost Global Biometrics System Market ... TechSci Research report, " Global Biometrics Market By ... and Opportunities, 2011 - 2021", the global biometrics market ... on account of growing security concerns across various end ...
Breaking Biology News(10 mins):