EDMONTON, April 8 /PRNewswire/ - Compass Biotechnologies (COBI:OB)(formerly Cyplasin Biomedical (CPBM: OTCBB and XYI1:FRA) had previously announced on March 29 that it undergone a name and symbol change. The name change was a first step in a corporate re focusing that would allow the Hepatitis C project to continue as originally envisioned sheltered within C-Pharma Inc., and to allow its parent company Compass Biotechnology to take advantage of several exciting opportunities within the generic biosimiliar and bio better markets.
Garth Likes CEO of Compass commented "we have given this strategy a lot of thought and came to the conclusion that in order to keep the development of our Hepatitis C products and vaccines as a prime focus but yet to increase share holder value we should apply our product development knowledge and experience to other opportunities as well and thus chose the biosimiliar and bio better market areas. We are very excited about various prospects that we are working on and hope to announce some of these shortly."
Joseph Sinkule a Director of the Company stated "bio-betters," are essentially second generation biologics drugs that can be reformulated to perform better than the original drug. It's a simple strategy: find a new biologic that is safer and more effective than a top earner already on the market -perhaps delivered more easily for greater compliance- and you have a potential billion-dollar therapy on your hands."
For the venture backers, one of the chief attractions of these bio-better programs is that they offer a classic de-risking for their investors. If you know the technology and you've seen how it works in the clinic then by reformulating it to be a little better in some fashion gives you a better shot at goal. Bio-betters however can still require long and expensive clinical trial programs, which are not entirely risk free. The Company will also need to make sure that the new therapies offer a significant advantage over anything on the market as we do not want to develop generic me too drugs, but products with intellectual property rights and patents.
Mr. Likes went on to say that that the company is still catching up with the creation of a new web site for Compass Biotechnologies and hopes to have this up shortly. In the meantime interested persons can still go to www.c-pharma.net
ABOUT COMPASS BIOTECHNOLOGIES INC.
Compass Biotechnologies (formerly Cyplasin Biomedical) is a publically-traded specialty pharmaceutical company (COBI:OB) with headquarters in Edmonton, Alberta. The mission of Compass is to develop new and exciting biosimiliar and bio better drug products that can bring revenue generation to the company in a near term fashion. Further the Compass under it license from the National Institutes of Health (NIH) has opportunities to develop products from the platform technology available and or sub licensee these opportunities to other interested partners.
Compass Biotech also owns a subsidiary company called C-Pharma Inc.
ABOUT C-PHARMA INC.
C-Pharma 's technology encompasses the use of recombinant DNA technology to manufacture virus like particles (VLPs). These VLPs can be engineered to incorporate various viral and non-viral antigens for use as vaccines against many different types of targets such as Hepatitis C. The recombinant antigens presented in the context of a VLP carrier system are much more immunogenic than the antigen alone, and this carrier is so powerful that the subsequent vaccine may not require the use of immune adjuvants. Cyplasin is using the technology to develop a Hepatitis C vaccine to prevent hepatitis C viral infection of liver hepatocytes. The Company is also pursuing a revenue generation strategy by commercializing generic therapeutic drugs for use in the Hepatitis C market.
Forward Looking Statements
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SOURCE Cyplasin Biomedical Ltd.