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SciGen Ltd (SIE.AX) To Establish Manufacturing Facility In China For Hepatitis B Vaccine And Insulin


12/13/2005 2:48:30 PM

ASX listed and Singaporean-based biopharmaceutical company SciGen Limited (ASX:SIE) has announced its involvement in a joint venture to establish a manufacturing facility for biopharmaceuticals in the People’s Republic of China.

The facility will be GMP (good manufacturing practice) compliant and will produce a range of biopharmaceuticals including SciGen’s recombinant human insulin SciLinTM and hepatitis B vaccine Sci-B-VacTM. The benefit to SciGen will be a third facility capable of producing its lead products and allowing the company to meet its current and future supply agreements in the region. SciGen will also own 51% of the facility.

The joint venture involves the Hefei Life Science & Technology Investments and Development (HLSTP), which recently signed a sales and distribution contract with SciGen for Sci-B-VacTM at a guaranteed value of more than US$140 million over seven years commencing in 2008. The third party is Polish biopharmaceutical company Bioton which is a significant investor in SciGen.

All three parties have agreed to create a joint-venture to be based in Hefei, in the Province of Anhui, China for the production of biopharmaceuticals. The primary materials are to be supplied by SciGen for the distribution, marketing and sales of these products in China. The Chinese government in Hefei has endorsed the joint venture and is expected to assist in securing the majority of establishment costs of the $US30 million development through government related financial institutions. Establishment of the facility is expected to take between 18 to 24 months.

The local production will greatly enhance market penetration in this important and growing market. The proportion of the Parties’ equity interest in the Joint Venture Company will be as follows: SciGen – 51%, HLSTP – 25%, and Bioton – 24%. Each Party shall use its reasonable best efforts to enter into definitive documents for the establishment of the JV Company prior to April 30, 2006. The Heads of Agreement is governed by the laws of the People’s Republic of China.

About SciGen SciGen Ltd is a biopharmaceutical company involved in commercializing later stage research. It co-develops and markets biopharmaceutical products for human healthcare. SciGen focuses in the areas of gastroenterology, endocrinology and immunology. Its product portfolio includes vaccines and therapeutics.

SciGen acquires rights to manufacture, distribute and market biopharmaceutical products under exclusive licensing arrangements. SciGen’s portfolio currently includes proprietary biotechnologyderived products, and biogeneric products, which allow for faster entry into the market, as biogeneric products have undergone much of the clinical development and trials required to bring drugs to market. This minimizes the risks associated with early stage product development. SciGen currently undertakes R&D activities in collaboration with strategic partners and institutions.

SciGen’s competitive advantage is in identifying research with commercial potential at an early stage to which it adds its expertise in gaining regulatory approval and bringing products to market.

SciGen is a Singaporean biotechnology company, established in 1988 and listed on the Australian Stock Exchange (ASX code SIE). SciGen is headquartered in Singapore, with offices in Australia, USA, Korea, Vietnam, Hong Kong, and Philippines and partners in India, China, Indonesia, Israel, Poland, Austria and the Netherlands.

Further information: Investor Relations and Media Company Rebecca Wilson Buchan Consulting +61 2 9237 2800 +61 417 382 391 (mobile) rwilson@bcg.com.au Saul Mashaal Executive Vice Chairman, Founder & CEO SciGen Ltd. + 61 2 9234 1700 +65 9630 5691 (Mobile)



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