MONTREAL, Dec. 13 - Haemacure Corporation (TSX: HAE.TO), a Montreal-based specialty bio-therapeutics company, announces the start of construction of its manufacturing facility, the production of laboratory samples of fibrin sealant, the hiring of two senior scientists and shares purchases by insiders.
Manufacturing Facility
Construction is underway at the facility to prepare for the installation of the clean room. Haemacure is on plan to have an operational facility by mid-2008. Construction of a state-of-the-art facility incorporating the latest proven manufacturing components is a major milestone that will require significantly lower capital investment than originally planned. The facility will also allow lower operating costs and higher final product safety standards.
Fibrin Sealant Samples
Haemacure has produced in its laboratory samples of its proprietary fibrin sealant for delivery to potential partners for evaluation as a part of a collaboration program. This will enable these partners to evaluate the product in their labs and see how it can enhance the performance of their own products, in wound management, regenerative medicine, drug delivery and combination with biomaterials applications.
Scientists
Haemacure is pleased to welcome Dr. Trung Bui-Khac, Ph.D. in chemistry, and Mrs. Véronique Boulanger, B. Sc. in biochemistry and M. Sc., as new employees of the Company. Dr. Bui-Khac is a former Vice-President of Haemacure and the inventor of three of the four inventions making up Haemacure's patented fibrinogen and thrombin extraction technology. Dr. Bui-Khac holds the position of Director of Technical Development. Mrs. Boulanger possesses relevant experience in protein biochemistry and holds the position of Senior Scientist. Both Dr. Bui-Khac and Mrs. Boulanger work at Haemacure's Montreal laboratory, where they produced samples of Haemacure's fibrin sealant.
Shares Purchases
Haemacure also reports that certain of its directors and officers have purchased directly and indirectly in excess of 1 million shares of the Corporation on the secondary market at prices ranging from $0.12 to $0.155 per share. The purchases were made between October 26 and November 30, 2007 in accordance with regulatory requirements and filed with the System for Electronic Disclosure for Insiders (SEDI), where further details on individual purchases may be accessed.
"I am very excited with the rapid progress we have made since announcing our First-Patient-In-The-Clinic strategy for fibrin sealant on October 24, 2007. I am also pleased with this strengthening of our scientific and technical team and the product samples they have produced", said Joseph Galli, Chairman and CEO of Haemacure. "Haemacure is well on its way to delivering on the turnaround plan initiated on February 1, 2007 and will be positioned as the only independent, next generation, human fibrin sealant global supplier, concluded Mr. Galli.
About Haemacure
Haemacure Corporation is a specialty biotherapeutics company developing high-value human plasma protein products for commercialization. Haemacure's research and development effort is driven by its proprietary plasma protein extraction technology to develop next-generation products, including surgical hemostats. Haemacure's lead product candidate, Hemaseel(R)HMN, is a fibrin sealant to enter pivotal Phase II/Phase III clinical trials. Haemacure's second product candidate is thrombin, a component of its fibrin sealant. Follow-on development will focus on surgical hemostats, adhesion prevention, wound healing, regenerative medecine, drug delivery in select therapeutic areas and combination with biomaterials. Haemacure has discovered additional specialty proteins in one if its two plasma fractions and seeks to advance these specialty proteins through partnerships with pharmaceutical and biotechnology companies. Haemacure operates offices in Sarasota, Florida through a wholly-owned subsidiary. The Corporation is traded under stock symbol HAE on the TSX.
Forward-looking Statements
Certain of the statements contained in this news release are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the biotech industry, changes in the regulatory environment in the jurisdictions in which Haemacure does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. Haemacure disclaims any intention or obligation to update these statements.
Contacts
Haemacure Corporation: Joseph Galli
Chairman and CEO Investor
(514) 990-7074
jgalli@haemacure.ca
Gilles Lemieux
Relations
(514) 282-3350
ext. 22
glemieux@haemacure.ca
www.haemacure.com
