Regulatory News:
Kibow Biotech, Inc. today announced that it has signed an exclusive world-wide licensing and marketing agreement for Kibow Biotics®with Vétoquinol, S.A. (Paris:VETO), a French company specialized in animal health. In exchange, Kibow has received an upfront license fee and will also receive royalties on worldwide sales of its "Kibow Biotics® product formulation for veterinary applications. The financial terms of this expanded licensing agreement have been held in strict confidence. U.S. and Canadian marketing and distribution rights were sold to Vétoquinol in June 2006.
"We are very pleased to have extended our partnership with Vétoquinol, stated Dr. Natarajan Ranganathan, VP R&D of Kibow Biotech Inc. "Vétoquinol is a recognized leader in the field of animal health as demonstrated by its portfolio of outstanding innovative products, and by its steady growth.
"Vétoquinol is happy to expand that collaboration with Kibow Biotech Inc at a worldwide level. This is an outstanding opportunity for us to reinforce our presence in the field of cardio-nephrology, one of our key strategic domains of development. This agreement also allows to set up a still tighter partnership between both companies, already demonstrated by the success of AZODYLâ„¢, tradename of Kibow Biotics® for animal use, in USA and Canada assured Christian Schirvel, Group Director for Business Development of Vétoqunol S.A..
The veterinary formulation of Kibow Biotics® is a breakthrough 100% natural microbial (probiotics) patented product formulation for the reduction of azotemia in dogs and cats with renal failure. Already successfully marketed and sold by Vétoquinol in the North America and Canada, under the brand name "AZODYLâ„¢, Kibow Biotics® has been shown to reduce the nitrogenous uremic toxin buildup and thus may help prevent further kidney damage. The result is slower disease progression and a better quality of life as observed by veterinarians and respective pet owners who have opted for the use of "AZODYL® with their kidney failure cats or dogs. Kibow Biotech believes that a similar application is highly feasible for human chronic kidney failure patients.
The United States Food and Drug Administration (US FDA) recognizes probiotics as "Generally Recognized As Safe (GRAS). However, this classification is for its intended use either for digestive or intestinal applications. Since "Kibow Biotics is also intended for human use in uremic or kidney failure conditions, Kibow is currently conducting a multi-site, limited clinical trial for the human formulation. Results are expected in 4Q 2008 so the Company may validate the safety of Kibow Biotics® and provide a self claim premarket "GRAS certification to US FDA.
About kidney failure in companion animals
A leading cause of death among geriatric cats and dogs, the term "kidney failure or "renal failure refers to persistent azotemia, a build-up of uremic toxins in the blood, usually caused by a loss of nephron function in the kidneys.
About Kibow Bioticsâ„¢
Kibow Biotics® is an orally administered patented formulation of specially developed strains of naturally occurring bacteria or microbes which metabolize targeted uremic toxins in the gut and incorporate them as nutrients for growth. Clinical evidence shows that it may reduce bloodstream concentrations of urea, uric acid, creatinine, indoles and phenols, nitrosamines and related uremic metabolites. Kibow also believes that Kibow Biotics® promote maintenance of normal healthy gut flora.
About Kibow Biotech
Kibow is a ten year-old Philadelphia suburban based biotech company focused on the development of innovative probiotics and prebiotics that help slow disease progression and improve patients' quality of life.
Kibow has currently developed three types of probiotic products: Kibow Biotics® for chronic kidney failure patients, "AZODYL®, a veterinary formulation of Kibow Biotics®, and Kibow Floraâ„¢ for Metabolic Syndrome patients. Kibow Biotics® is in an ongoing, five-country human clinical trial. The veterinary formulation of Kibow Biotics® is marketed in the US and in Canada under the brand name of AZODYLâ„¢ by Vetoquinol US. Kibow Floraâ„¢ and other Kibow supplements targeting metabolic syndrome are available on-line from Kibow.
About Vétoquinol S.A.
Vétoquinol, established in 1933, is an independent veterinary pharmaceutical laboratory for both food producing animals and pets. This family-owned Group, dedicated to animal health, is the world's 12th largest laboratory in its field. Nearly 80% of its revenue is now generated in export markets.
Its business includes research, production and marketing of drugs and health products. Vétoquinol, positioned in the treatment field, has extensive expertise in 3 major therapeutic fields: anti-infection agents, pain and inflammatory, and cardiology-nephrology.
The Group now distributes its products in about one hundred countries (Europe, North America and Asia), working through 18 subsidiaries and a network of 110 distributor-partners. The company had more than 1,300 employees worldwide.
Upcoming events: 2007 Annual results (Tuesday, 18 March 2008)
More information: www.vetoquinol.com
OUR BUSINESS: ANIMALS. OUR ADVANTAGE: PEOPLE.
