LOVELAND, Colo., Jan. 22 /PRNewswire-FirstCall/ -- Heska Corporation today announced that it has completed the sale of its rights in a worldwide patent portfolio covering a number of major allergens and the genes that encode them to Allergopharma Joachim Ganzer KG ("Allergopharma") for an undisclosed sum. As part of the agreement, Heska Corporation ("Heska") has exclusively licensed veterinary rights to the portfolio.
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"This agreement provides us with additional capital as well as exclusive veterinary rights to the technology underlying this patent portfolio," said Robert Grieve, Heska's Chairman and CEO. "We intend to continue to focus our resources on the companion animal health market."
"We are committed to being a leader in the allergy market," commented Joachim Ganzer, Managing Partner of Allergopharma. "We believe this patent portfolio will provide legal protection for our strong pipeline of products that will improve diagnosis and treatment of allergic diseases in humans."
About Heska
Heska Corporation sells advanced veterinary diagnostic and other specialty veterinary products. Heska's state-of-the-art offerings to its customers include diagnostic and monitoring instruments and supplies as well as single use, point-of-care tests, pharmaceuticals and vaccines. The company's core focus is on the canine and feline markets where it strives to provide high value products for unmet needs in veterinary medicine. For further information on Heska and its products, visit the company's website at www.heska.com.
About Allergopharma
Allergopharma is a leading player in the market for allergy products. The Company is based in Reinbek, Germany and develops, produces and markets products for diagnosis and specific immunotherapy of allergic disease. Allergopharma is the first company to publish results from clinical studies in man with recombinant allergens and allergen derivatives produced using biotechnological methods. Further information can be found on the Company's website at www.allergopharma.com.
Forward-Looking Statements
This announcement contains forward-looking statements regarding Heska's future financial and operating results. These statements are based on current expectations and are subject to a number of risks and uncertainties. In addition, factors that could affect the business and financial results of Heska generally include the following: uncertainties regarding the ultimate legal protection provided by patents, which are subject to legal challenge or may be circumvented, uncertainties regarding the outcome of research and development activities; risks regarding the commercialization and market acceptance of products Heska may introduce in the future; uncertainties regarding the availability and terms of additional capital, if required; and the risks set forth in Heska's filings and future filings with the Securities and Exchange Commission, including those set forth in Heska's Annual Report on Form 10-K for the year ended December 31, 2005 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2006.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000622/HESKALOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comHeska CorporationCONTACT: Jason Napolitano, Executive Vice President & CFO of HeskaCorporation, +1-970-493-7272, ext. 4105
