Polydex Enters Into New U.S. License Agreement, Receiving $250,000 at Signing and Additional $250,000 on Approval of ANADA
30 Juillet 2013 - 3:35PM
Polydex Pharmaceuticals Limited
(
Pink/OTCBB:POLXF) (the "Company") is pleased to
announce that through its wholly owned subsidiary it has received
$250,000 for issuing a new exclusive 10-year supply agreement with
Sparhawk Laboratories, Inc. to purchase bulk quantities of
materials necessary for production of 20% Bulk Iron Dextran
Solution for the United States veterinary industry.
The agreement also includes an additional milestone payment of
$250,000 to the Company for assistance in developing 20% bulk iron
dextran solution. Sparhawk will make application for an abbreviated
new animal drug (ANADA) as required by the U.S. Food and Drug
Administration for interstate commerce, and upon approval of the
ANADA will award the milestone payment.
Sparhawk has been purchasing materials necessary for the
production of 10% iron dextran under an exclusive supply agreement
with the Company since 2004, which arrangement has also been
renewed for a further ten years under this new license
agreement.
Sparhawk Laboratories, Inc., located in Lenexa, Kansas,
manufactures a full line of generic animal health products, which
include injectables, internal/external solutions, ointments,
powders, tablets and boluses.
Bert Hughes, President and CEO of Sparhawk, said, "We have
consistently received high quality product through our supply
agreement for the raw materials needed to produce 10% iron dextran
and we are really looking forward to adding 20% iron dextran to our
product line."
"Our relationship with Sparhawk is deeply rooted and we are
honored to be expanding our supply agreement with them at this
time," said George Usher, President and CEO of Polydex.
Polydex Pharmaceuticals Limited, based in Toronto, Ontario,
Canada, is engaged in the development, manufacture and marketing of
biotechnology-based products for the human pharmaceutical market,
and also manufactures bulk pharmaceutical intermediates for the
worldwide veterinary pharmaceutical industry.
Note: This press release may contain forward-looking
statements, within the meaning of the United States Securities Act
of 1933, as amended, and the United States Securities Exchange Act
of 1934, as amended, regarding Polydex Pharmaceuticals Limited,
including, without limitation, statements regarding expectations
about future revenues or business opportunities or potential
research projects. These statements are typically identified by use
of words like "may", "could", "might", "expect", "anticipate",
"believe", or similar words. Actual events or results may differ
materially from the Company's expectations, which are subject to a
number of known and unknown risks and uncertainties including but
not limited to changing market conditions, future actions by the
United States Food and Drug Administration or equivalent foreign
regulatory authorities as results of pending or future clinical
trials. Other risk factors discussed in the Company's quarterly
reports may also affect the actual results achieved by the
Company.
CONTACT: Investor Relations:
North Arm Capital Services
Linda Hughes
1-877-945-1621
(Linda@northarm.com)
Polydex Pharmaceuticals (PK) (USOTC:POLXF)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Polydex Pharmaceuticals (PK) (USOTC:POLXF)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024