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Haemacure Adopts Strategy for "First-Patient-In" Fibrin Sealant Pivotal Clinical Trials
Date:10/24/2007

HAE:TSX

MONTREAL, Oct. 24 /PRNewswire-FirstCall/ - Haemacure Corporation (TSX : HAE), a Montreal-based specialty bio-therapeutics company, is pleased to announce a new two-phase strategy to have a first patient undergo surgery in the pivotal clinical trials for its lead product candidate, the Hemaseel(R)HMN fibrin sealant, during the first quarter of 2009.

First-Patient-In

This "First-Patient-In" objective is a major milestone in bringing Haemacure's lead product candidate to market. Haemacure's new two-phase strategy will greatly facilitate meeting this objective. The new strategy consists of setting-up a small-scale manufacturing facility by mid-2008, where product will be manufactured for clinical trials and commercial launch, and afterwards setting-up the large-scale facility originally planned. Both facilities will be set-up in premises currently leased by Haemacure in Florida.

Setting-up the small-scale facility requires significantly lower capital expenditures than the original plan. Haemacure will finance the first phase of its new strategy in part with existing liquidities and seek financing for manufacturing equipment.

The pivotal trials will be carried out under the existing IND currently open with the US FDA. The timeline for the commercial launch of the fibrin sealant remains the same as previously announced, towards the end of 2010.

"The benefit of this two-phase strategy is that Haemacure will not require additional equity to have a first patient in the clinic and set-up the small-scale facility", said Joseph Galli, Chairman and CEO of Haemacure.

Shipping Fibrin Sealant for Evaluation

Haemacure recently equipped and staffed a laboratory in Montreal where it has commenced producing small volumes of its fibrin sealant to respond to requests from potential partners for evaluation in various applications. Haemacure plans on commencing delivery of its sample fibrin sealan
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SOURCE HAEMACURE CORPORATION
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