EDMONTON, ALBERTA--(Marketwire - Oct. 18, 2010) - Afexa Life Sciences Inc. ("Afexa" or the "Company") (TSX:FXA) today announced the signing of an exclusive in-license agreement with Lisoma International Ltd. and Lisoma Canada Ltd. (collectively "Lisoma"). Under the agreement, Afexa has been granted the exclusive Canadian rights to use, develop, market, sell and distribute Lisoma's proprietary natural health product for the treatment of cold sores. The product was recently granted a Natural Product Number (NPN) from Health Canada's Natural Health Products Directorate, allowing the product to be sold in Canada as an over-the-counter remedy to relieve the pain of cold sores and to speed healing time.
Afexa previously announced at its annual meeting in August, 2010 that it intended to in-license a natural health product that meets Afexa's standards and is consistent with its vision and mission. Today's announcement fulfills that objective. Further details will be announced prior to a product launch which is expected to occur within the next 12 months.
Afexa's Chairman and CEO Jack Moffatt says, "Every year approximately 20 per cent of Canadians get cold sores, yet statistics show that only about seven per cent buy a cold sore remedy. We believe cold sore sufferers who try this product will be won over by its effectiveness. As was the experience with COLD-FX, we believe word-of-mouth and an effective product will allow us, over time, to penetrate and expand the market. This product has been clinically proven to shorten the healing time and relieve the pain associated with cold sores." said Mr. Moffatt.
ABOUT AFEXA LIFE SCIENCES INC.
Afexa Life Sciences Inc., founded in 1992, strives to deliver the most trusted health brand on the planet through pioneering evidence-based natural medicines that empower people to achieve their health potential. The Company's patented ChemBioPrint discovery and standardization technology enables the development of effective and safe medicines from complex natural sources, while ensuring reliable health benefits and batch-to-batch consistency. COLD-FX, a ChemBioPrint product, is the Company's flagship product and Canada's leading over-the-counter (OTC) cold and flu remedy. It is officially indicated in Canada to help reduce the frequency, severity and duration of cold and flu symptoms by boosting the immune system. COLD-FX products have natural product licenses (NPNs) and are supported by scientific evidence, including randomized, double-blind, placebo-controlled clinical trials.
Advisory Regarding Forward-Looking Statements
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "would", "project", "could", "should", "contemplate", "potential", "depend", "forecast", "believe", "plans", "targets", "intends" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements reflect the Company's beliefs and are based on information currently available to us. These statements require Afexa to make assumptions that it believes are reasonable and are subject to inherent risks and uncertainties. Actual results and developments may differ materially from the results and developments discussed in the forward-looking statements as certain of these risks and uncertainties are beyond Afexa's control. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon.
Examples of such forward-looking statements in this news release include, but are not limited to, the expectation of a product launch, the timing of that launch and the success of that launch with consumers and whether or not Afexa will be able to penetrate and expand the existing cold sore market.
The Company believes the expectations and assumptions reflected in the forward-looking information and statements contained herein are reasonable. However, no assurance can be given that these expectations and assumptions are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, whether any benefits may be derived from them. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Investors are encouraged to consult SEDAR filings for more details on forward-looking statements and associated risks.