NEW YORK, May 2 /PRNewswire-FirstCall/ -- Biocoral, Inc. (OTCBB-BCRA) announced that during 2005, it has entered into a collaboration with Terumo Europe N.V. an European subsidiary of Terumo Corporation (Shibuya-ku, Tokyo Japan), a global medical technology company, in order to conduct a test protocol to insure the feasibility of producing Thrombin from Therapeutic plasma in contact with our product, "Biocoral®".
The test protocol has been conducted by both companies, The report of the study made by Terumo Europe N.V. and countersigned by the company confirmed such feasibility of our technology.
At the same time, in line with common business practice, Biocoral, Inc. entered into a letter of intent "letter of Intent" with Terumo Europe N.V. Both companies investigated a more deeper collaboration on exclusive basis for the marketing of the medical devices covered by our patents and by the results of the laboratory test (including any future improvement patents covering this technology) of which Biocoral, Inc. is or will be the owner. Biocoral, Inc. declined to extend the exclusivity period for more than three months in order to be free to pursue any better proposal for development of its technology relative to which we have received indications of interest.
Nasser Nassiri, the Chairman and Chief Executive Officer of Biocoral, Inc. commented that, "We believes that the range of clinical applications for our patented technology is wide open as the Company's technology is protected by strong issued patents in many countries around the world and have thus far been granted by the official government patent offices of various countries, including 15 European Community countries, Japan and in the United States by the US Department of Commerce Patent and Trademark Office."
Nasser Nassiri, further commented that, "in fact, our patent application covering this technology in Japan, after being granted in October 1999, received written opposition from Thermogensis Corp of California in June 2000, which opposition was rejected in May 2003, and our patent in Japan was reaffirmed."
About Biocoral, Inc.
Biocoral, Inc., a Delaware corporation, is an international biomaterials "tissue-engineering" company specializing in the research and development of proprietary health care patented high technologies and biomaterials.
Biocoral(r), the Company's primary product, is a natural coral "carbonate Calcium" derived bone graft substitute and is used by surgeons and practitioners because of its biocompatibility, resorbability, osteo conduction and safety. Certain chemical, physical and structural characteristics of coral are very similar to that of human bone tissue. Biocoral(r) is derived from three particular species of coral naturally present in abundance. Biocoral(r) is primarily (more than 98%) comprised of calcium carbonate. Porous and resorbable, Biocoral(r) is prepared in microgranules as well as in engineered shapes according to specific indication. Due to its similarity to bone tissue, Biocoral(r) is compatible, resorbed by the body as new bone growth invades the Biocoral(r) and is replaced by neoformed invasion. It is highly porous with numerous interconnected channels which allow a total migration to the center of the implant free of contamination risk. Because Biocoral(r) is resorbed, it can be combined with antimicrobials, anticancer agents or other pharmaceuticals for slow release into bone tissue, resulting in an advantage over autologous bone grafts. The principal current alternative to Biocoral(r) is the utilization of autologous (from the patient's own body) bone grafts. The use of autologous bone grafts requires the patient to undergo one or more additional surgeries to harvest the bone graft material. This is not always feasible due to the condition of the patient or other contraindications, and must be shaped in a separate procedure to fit the graft area.
Through its subsidiaries, the Company researches, develops, manufactures and commercializes bone graft substitutes and other high tech patented biomaterials in a number of countries outside the United States. Biocoral, Inc. through its subsidiaries has developed the additional twelve titles of patents for various applications and uses of its products, such as a method of preparation a fibrin glue "biological autologous surgical glue" by using a proprietary patented single use device that assures the purity of the product, further protecting the patient from any complications, a method of treating a disease associated with demineralization or mineralization bone defects ("osteoporosis remediation"), and combination with growth factor, among others. With these patents titles applications in various countries in the European Community, Canada, the United States, Japan, Australia, and Switzerland, the Company owns more than 219 patent applications around the world, and approximately 166 of these have thus far been granted by various countries' official government patent offices, including most European Community countries, Canada, Australia, Japan and in the United States by the US Department of Commerce Patent and Trademark Office.
About Terumo Europe N.V.
Terumo Europe is an affiliate of Terumo Corporation.
Terumo Corporation, (Shibuya-ku, Tokyo Japan; CEO Takashi Wachi), (www.terumo.com) is a leading manufacturer of single-use medical devices, such as syringes, hypodermic needles, blood bags, IV solutions, guidewires, catheters, stents and perfusion products.
Terumo Corporation, the parent Company of Terumo Europe N.V. is publicly traded on the Tokyo Stock Exchange Market.
The information contained in this press release, including any "forward looking" statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-K and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related thereto that are unpredictable and outside of the influence and/or control of the Company.
Biocoral, Inc., Nasser Nassiri, +33-1-4757-9843