New York, NY and Montreal, Quebec, November 6, 2007 - Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview® (EIO®) on Haemacure Corporation (TSX: HAE). The full 48-page report can be found at www.crystalra.com.
Haemacure Corporation is a Canadian specialty bio-therapeutics company developing human, high-value therapeutic proteins and plasma protein-derived biosurgical products based on its patented, high-yield fibrinogen and thrombin extraction and purification technology. Haemacure’s product pipeline includes Hemaseel®HMN, a fibrin sealant to enter pivotal Phase II/Phase III clinical trials, and Hemaseel®Thrombin, an hemostat in pre-clinical stage. Fibrin sealants are biological products used during surgery to stop or control bleeding, seal tissues, and speed wound healing. Fibrin sealants are also believed to be effective drug delivery devices and adhesion prevention agents. Hemostats help blood clot.
Haemacure recently announced that it was setting-up a manufacturing facility in Sarasota, Florida, expected to be completed by mid-2008, without requiring additional equity. The facility will produce fibrin sealant for the pivotal Phase II/Phase III trials and for commercialization once the product is approved by the U.S. FDA. The completion of the facility, as planned, will also allow Haemacure to have the first patient undergo surgery in these pivotal trials during the first quarter of 2009. Haemacure’s fibrin sealant demonstrated safety and efficacy in 151 subjects and patients in past clinical trials.
Moreover, Haemacure has discovered in one of its two plasma fractions four proteins for which the Company believes significant, expanding markets exist, as well as seven enzymes that may have potential as Orphan Drugs. These proteins and enzymes are at an early, investigational stage. Haemacure seeks to develop these proteins and enzymes in collaboration with pharmaceutical and biotechnology companies. Pending successful development, they may increase Haemacure’s revenues per liter of plasma. The Company estimates that its revenues per liter could be several times above industry averages, due to the high yield of its extraction technology. The Company also sells two FDA-cleared fibrin sealant delivery devices—HemaSyst™ and HemaMyst™.
Well over $50 million has been invested to develop Haemacure’s extraction technology. The Company is headquartered in Montréal, Canada, and operates a subsidiary in Sarasota, Florida.
About Crystal Research Associates, LLC
Crystal Research Associates, LLC is an independent research firm that provides institutional-quality, fee-based research to small and mid-cap companies. Crystal Research Associates’ unique and novel product, the Executive Informational Overview® (EIO®), is free of investment ratings, target prices, and forward-looking financial models. The EIO® presents a crystal clear, detailed report on a company (public or private) in a manner that is easily understood by the Wall Street financial community. The EIO® details a company’s product/technology/service offerings, market size(s), key intellectual property, leadership, growth strategy, competition, risks, audited financial statements, key events, and other such fundamental information. Crystal Research Associates has offices in New York City, Delray Beach, Montréal, and Toronto. Crystal Research Associates has been compensated by the Company in cash of thirty-five thousand U.S. dollars and two hundred thousand options/warrants to purchase Haemacure stock for its services in creating the base report, for updates, and for printing.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, potential applications of the Company’s technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company’s periodic reports, including forms filed with SEDAR.
These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates assumes no obligation to update any of the forward-looking statements in this release.
Contact:
Crystal Research Associates, LLC
Jeffrey J. Kraws / Karen B. Goldfarb
Crystal Research Associates, LLC
P: (609) 306-2274 / F: (609) 395-9339
jeff@crystalra.com / karen@crystalra.com
Haemacure Corporation:
Joseph Galli
Chairman and CEO Investor
(514) 990-7074
jgalli@haemacure.ca
Gilles Lemieux
Investor Relations
(514) 282-3350
ext. 22
glemieux@haemacure.ca
www.haemacure.com
