Press release Communiqué de presse
Press release Communiqué de presse
August 5, 2003 5 August, 2003
Pheromone Sciences Signs Chinese Distribution Agreement
Toronto, Ontario (August 5, 2003) - Pheromone
Corp. (TSX Venture: PHS), a Toronto based
company and the developer of the
monitoring device with proprietary technology in
of non-invasive fertility and ovulation detection is
to announce that it has entered into a long-term
distribution and licensing agreement with Ningxia
Under the agreement, Ningxia St Edenweiss, a public company whose shares are traded on China's Shenzhen Stock Exchange (symbol 000982) has obtained marketing and distribution rights for Pheromone's FertilitÃ?Â©-OV monitor in China, Hong Kong, Macao and Taiwan. Ningxia St Edenweiss is a manufacturing and marketing company with well-established relationships throughout the Chinese medical community. Pheromone shall receive upfront, milestone and royalty payments typical of a transaction of this nature.
Ningxia St. Edenweiss will immediately institute the filing process for Chinese regulatory approval with product approval expected to be complete within 12 months time.
"This relationship with Pheromone Sciences is a clear demonstration of Ningxia St. Edenweiss's ability and capacity to market new and innovative technologies," stated Ningxia St. Edenweiss Chairman Mr. Hou Yuqian. "We look forward to introducing the FertilitÃ?Â©- OV monitor as well as other new medical devices into this growing marketplace."
"The completion of this agreement represents a significant milestone for Pheromone Sciences while contributing to the health care needs of couples seeking help in conception", stated Christopher Neuman, President and CEO of Pheromone. "We are confident that the FertilitÃ?Â©- OV monitor will have an equally positive response in other markets throughout the world.
The FertilitÃ?Â©-OV monitor is a fertility cycle monitoring device for the consumer and professional medical market and provides a reliable "predictive" approach to natural, cycle-based family planning. The FertilitÃ?Â©- OV monitor is a non-invasive method of predicting the fertility window and ovulation date through the measurements of perspiration ion changes on the surface of the skin through a unique combination of bio-sensing and computer technologies These changes in female perspiration allow for the prediction of ovulation up to 4 days before the ovulation day.
A US based party, previously reported in the notes to the company's financial statements as having provided a non- refundable standby fee has determined that the product is not a suitable strategic fit with their current business model at this time. Efforts remain ongoing with other out-licensing prospects both in the US and other jurisdictions.
Pheromone Sciences Corp. is a biotechnology and medical diagnostics device research and development company that focuses on commercializing technologies in the field of human reproduction and sexuality.
Pheromone Sciences Corp is a member of MEDEC, which is the national industry association representing over 120 medical device and diagnostic companies. Member companies are dedicated to serving the health care community through the provision of high quality medical products and services that benefit Canadians.
Statements contained in this press release, including those pertaining to scientific and clinical research, commercialization plans, strategic alliances, and intellectual property protection, other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the contents of this news release.