CASTLE ROCK, Colo., Jan. 31 /PRNewswire-FirstCall/ -- AspenBio Pharma, Inc. announced that it has begun distributing Recombinant Equine LH (Luteinizing Hormone) for reagent use by equine veterinarians in the United States. Designed to induce ovulation in mares, this Recombinant Equine LH is the first of what the company expects to be a diversified line of recombinant single chain gonadotropin (hormone) drugs for livestock and other animals. AspenBio has filed for FDA approval on this patented new drug, which is being made available to equine veterinarians on a limited basis for research and testing as a reagent with specific indication and administration restrictions. Equine veterinarians will have access to limited supplies of the reagent for use in the upcoming 2006 equine breeding season.
“While we can only provide this equine drug on a restricted reagent sale basis, this is an important milestone for AspenBio Pharma as its distribution represents the first time such a product has been available for use anywhere in the world,” said Richard Donnelly President and CEO of AspenBio Pharma. “U.S. equine veterinarians will be the first to experience the tremendous potential of this totally new class of reproduction enhancing recombinant drugs/reagents.” The product is currently in the FDA approval process; AspenBio does not expect to receive final approval, if approved, of this new drug until some time in 2008. Meanwhile modest revenues are expected from sales of the reagent material for the 2006-7 breeding seasons.
About Aspen BioPharma
AspenBio Pharma, Inc. is an emerging bio-pharmaceutical company dedicated to the discovery, development, manufacture and marketing of novel patented products that both enhance the reproductive efficiency of animals and have large worldwide market potential. The company was founded to produce purified proteins for diagnostic applications and is now a leading supplier of human hormones to many of the nation’s largest medical diagnostic companies and research institutions. The company has successfully leveraged this science and technology expertise in reproduction hormones to rapidly develop an enviable late-stage pipeline of four novel reproduction analogs for wide-ranging therapeutic use in bovine and equine species. The company has also created an early pregnancy status diagnostic for dairy cows which is currently in late-stage development (www.aspenbioinc.com).
This news release includes “forward looking statements” of AspenBio Pharma, Inc. (“APNB”) as defined by the Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that APNB believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors APNB believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of APNB. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including development of new products, obtaining additional funding, adverse changes in market conditions, fluctuations in sales volumes, and problems in collecting receivables. Furthermore, APNB does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this news release should be considered in conjunction with the warnings and cautionary statements contained in APNB’s recent filings with the SEC.
Contacts: For more information contact: AspenBio Pharma, Inc. Richard Donnelly, CEO 303/794-2000 Investor Relations Liolios Group, Inc. Scott Liolios or Ron Both 949-574-3860
AspenBio Pharma, Inc.
CONTACT: Richard Donnelly, CEO of AspenBio Pharma, Inc., +1-303-794-2000;or Investor Relations, Scott Liolios or Ron Both, both of Liolios Group,Inc., +1-949-574-3860, for AspenBio Pharma, Inc.
Web site: http://www.aspenbioinc.com/
