MONTREAL, QUEBEC--(MARKET WIRE)--Jul 3, 2007 -- Adaltis Inc. (Toronto:ADS.TO - News), an international in vitro diagnostic (IVD) company, today announced that it has signed a distribution agreement with bioMerieux (Euronext:BIM) in China for certain of its infectious diseases products. Adaltis will manufacture and supply specific infectious diseases products to bioMerieux who will distribute the products through their distribution network in Asia. This agreement will leverage the high-quality of Adaltis’ products and the distribution network of bioMerieux in order to effectively increase Adaltis’ penetration of key markets. Terms of the agreement were not disclosed.
“Adaltis is pleased to be associated with bioMerieux which is an internationally recognized leader in the IVD industry. This agreement with bioMerieux demonstrates a clear validation in Adaltis’ capabilities to deliver high-quality products from our state-of-the-art manufacturing facility in Shanghai, China. Adaltis will continue its development of innovative diagnostic products and will continue to search for key partners to distribute these products as we expand our geographic reach,” said Dr. Raymond Tong, Chief Operation Officer of Adaltis, who is based in China.
About Adaltis
Adaltis is an international in vitro diagnostic company that develops, manufactures and markets diagnostic systems. It aims to leverage its experience in Europe to become a leading provider of in vitro diagnostic products in emerging markets, with a particular focus on China.
With the assistance of its two strategic shareholders, CITIC Pacific Limited (a large Hong Kong-based conglomerate) and Picchio Pharma Inc. (a joint venture healthcare investment firm owned by FMRC Family Trust (a trust of which Dr. Francesco Bellini is a beneficiary), and Power Technology Investment Corporation, a subsidiary of Power Corporation of Canada), Adaltis has completed building its manufacturing facility in Shanghai. Now operational, the production facility manufactures high-quality products in a low-cost GMP environment, in order to service existing markets in Europe, while providing a platform to penetrate the high-growth Chinese in vitro diagnostic market.
Adaltis is headquartered in Montreal, with offices in China, Hong Kong, Italy, Germany and Mexico.
Caution Concerning Forward-Looking Statements
Certain statements made in this press release, including in particular the impact of this agreement, and other anticipated market opportunities for our infectious diseases products, are forward-looking statements and are subject to important risks, uncertainties and assumptions. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the Company’s actual actions or results could differ materially from those expressed or implied in such forward-looking statements. The forward-looking statements contained in this press release represent the expectations of Adaltis Inc. and its subsidiaries as at the date hereof and accordingly are subject to change after such date. However, Adaltis Inc. and its subsidiaries expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For additional information with respect to the risks and uncertainties and other factors that could cause the results or events predicted in these forward-looking statements to differ materially from actual results or events, please refer to the Annual Information Form of the Company filed with the Canadian securities commissions.
Contact:
Contacts: Adaltis Inc. Jacques Deforges Vice President, Finance and Chief Financial Officer 514-335-9922, ext. 245 jacques.deforges@adaltis.com Adaltis Inc. Eddy Miller Director, Investor Relations 514-335-9922, ext. 257 eddy.miller@adaltis.com
Source: Adaltis Inc.
